The 30% three-month rise in UBS’s share price to mid-January, following the announcement at the end of October 2012 of a radical reshaping of the group, with a sharp reduction in capital allocated to its investment bank and in particular the fixed-income business, marks a notable outperformance even as the whole sector has rallied.
Over the same period, the Bloomberg Europe 500 banks and financial services index was also up strongly, but UBS’s performance puts the index’s 15% rally in the shade.
UBS is transforming its investment story to investors.
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