UBS said its Global Wealth Management unit brought in $16 billion in net new money, marking its highest second-quarter haul in more than a decade.
The Swiss bank also posted Thursday a record $29 billion profit for the second quarter alongside fresh details about its acquisition of longtime rival Credit Suisse. UBS continues to operate Credit Suisse as a separate entity and its results were broken out separately. UBS plans to simplify its legal structures and merge the two businesses in 2024.