UBS, the world's largest wealth manager, saw net profit drop 11% in the second quarter as higher trading activity failed to offset a pandemic-induced slump in retail and corporate banking.
ZURICH: UBS, the world's largest wealth manager, saw net profit drop 11% in the second quarter as higher trading activity failed to offset a pandemic-induced slump in retail and corporate banking.
"As we continue to face a challenging environment, we are adapting and accelerating the pace of change, supporting our clients, employees, and the economies in which we operate, while remaining focused on our strategic priorities," Chief Executive Sergio Ermotti said in a statement.
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