That has brought it closer to Morgan Stanley, which has about US$5 trillion in its wealth management division, even if UBS is bigger in most places outside the US.
On the first anniversary of UBS Group AG’s historic takeover of its former rival Credit Suisse, it’s becoming clear just how advantageous the deal has been for the bank. It has pushed its market capitalization past US$100 billion to the highest level in almost 16 years and cemented its leading role in global wealth management.
The most obvious effect for the Swiss lender is a growth in scale that would have required many years of painstaking work building client relationships if it were to be achieved organically. Overnight, the client funds managed by its wealth unit jumped by about one-fifth to US$3.4 trillion at the time.
