Fixed income, equity profits bomb at UBS
UBS’s equity capital markets and fixed income capital markets businesses shed 74% and 50% of revenues, respectively, in the final quarter of 2011 compared to the same period in 2010. That contributed to a 49% drop in revenues for the Swiss firm’s investment banking division for the fourth quarter compared to the Q4 2010.
A 3.8% revenue drop from the Swiss banks advisory business over the same period added to the misery, especially as the investment banking division of the firm also had to swallow a 118% increase in risk management charges compared to Q4 2010.
The investment banking division did perform better
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