Best global wealth manager: UBS Wealth Management
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UBS Wealth Management has shown that overhauling the business works. Last year it produced its biggest profit since 2008, while the first quarter this year was also its best since 2008.
In 2014 the bank had the highest net inflows in Asia Pacific since 2007. And in the first quarter there were large inflows from Europe, where some ground had been lost. In the Americas it achieved record profits of over $1 billion last year and continued its record-breaking earnings into the first quarter.
“Our problems back in the crisis were not the kind that can be ignored,” says Jürg Zeltner, who has led UBS Wealth Management since 2009. “We needed to change strategy quickly and put wealth management at our core. While others were muddling through, we were able to invest for growth, and you see that payback now.”
If you look back at what Zeltner promised when he was promoted, you can see he has been steadfast in his strategy. “My roadmap was clear,” he says.