Wealth Management

Inside UBS’s mission to become a $5tn wealth manager: ‘We’re only beginning to flex our muscles’

The bank has ceded little ground in its home market since it took over Credit Suisse, but it is still struggling to hit its stride in the all-important US market

UBS chief executive Sergio Ermotti has big ambitions for the bank’s wealth business
UBS chief executive Sergio Ermotti has big ambitions for the bank’s wealth business Photo Illustration: Getty Images/FN Staff

Before UBS was forced into a shotgun marriage with Swiss arch-rival Credit Suisse in 2023, the bank was on a different path.

Under then-chief executive Ralph Hamers, UBS had been restructured to focus on its key strength — wealth management.

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