Rain clouds dampen Swiss celebrations

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From Archive 11 December 2003

By PWM Editor

UBS’s jubilant announcement of a 21 per cent increase in wealth management profits belies the fact that all is not quite right in Helvetia.
The latest results from Swiss banking giant UBS have been welcomed as signifying the
official end of the bear market. UBS’s wealth management profits were up 21 per cent on last year, with net new money over the last 12 months totalling SFr23.3bn (E15bn), compared with SFR14.9bn for the previous year.

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Rain clouds dampen Swiss celebrations

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