UBS, the Swiss bank that became a symbol of ravages of the subprime crisis in Europe, failed to stem an outflow of client money even as it posted its first quarterly profit in more than a year on Tuesday. UBS shares dropped 5 percent in Zurich after the bank said customers withdrew 45.2 billion Swiss francs ($42 billion), from its wealth management units in the fourth quarter, almost double the 26.6 billion francs of redemptions in the previous three months. The bank said the asset outflows were mainly the result of client advisers leaving UBS and taking their customers with them.

Most Popular Articles

FHA loan limits increasing for almost all of U.S. in 2020

Thanks to increases in home prices in 2019, the Federal Housing Administration loan limit will increase for nearly all of the country in 2020.

Dec 05, 2019 By

Latest Articles

HousingWire is growing. Come join us

2019 has been a year of tremendous audience and product growth for HousingWire and we couldn’t be prouder. But we’re not ready to rest on our laurels. Far from it. In fact, 2020 promises to be an even bigger year for HousingWire.

Dec 06, 2019 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please