ZURICH (Jan 27): UBS hopes a Donald Trump-inspired rally in the United States will help boost earnings at its struggling wealth management business, after posting a 47% fall in full-year net profit. In a sign of the challenges in UBS Wealth Management, which does not include North America, transaction-based income fell to the lowest on record in the fourth quarter. The ability to attract new money is seen as an important indicator of future earnings in wealth management. Wealth Management Americas saw US$1.3 billion in outflows but still posted a record adjusted pre-tax profit. It was down from 949 million francs a year earlier, when results benefited from a net tax benefit of 715 million francs.

Source: The Edge Markets January 27, 2017 09:28 UTC