UBS Profit Falls After Loss on Facebook IPO – NYTimes.com

UBS Profit Falls After Loss on Facebook IPO – NYTimes.com.

Nader Nazemi-UBS-Swish Bank-Nader Nazemi

UBS Swiss Bank

There seems to be a new era in the Investment Banking Modus Operandi. To cut back bonuses and useless activities. 

LONDON — UBS on Tuesday reported a 58 percent decline in its net profit during the second quarter as a fall in investment banking income weighed on the Swiss bank.

The drop in profits comes as the chief executive of UBS, Sergio P. Ermotti, is paring back the firm’s investment banking unit and expanding its wealth-management division.
Ongoing market volatility connected to the European debt crisis has hit trading activity across the financial services sector.
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