The wirehouse’s independent channel has become the fastest growing segment of its wealth management unit and helped retain advisors.
The Swiss bank UBS reportedly wants in on the wealth market in India and is considering buying a stake in a local firm to give it a foothold.
UBS appears to have regained its form, reporting $1.1 billion in net income for the second quarter, doubling analyst estimates.
The Zurich-based bank joins a growing list of wealth management’s elite, including JPMorgan and Goldman, to focus on the wealthiest investors.