Better profit: The lender also reported earnings that benefited from increased market volatility and higher transaction-based income. — Reuters
ZURICH: UBS Group AG posted better-than-expected third-quarter profit and set aside US$1.5bil for share buybacks next year as chief executive officer Sergio Ermotti prepares to hand over to Ralph Hamers.
The Zurich-based wealth manager – the world’s largest – followed US banks in reporting earnings that benefited from increased market volatility and higher transaction-based income.
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