Advisory and ECM soar at UBS as trading suffers

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By Jasper Cox
23 Jul 2019

UBS’s investment bank had a mixed performance in the second quarter, with advisory and underwriting performance defying expectations to rise by some way, while trading revenues fell, the bank showed in its results on Tuesday.

UBS was the first big European investment bank to post results, before Deutsche Bank on Wednesday.

Its investment bank made profit before tax of $440m, down 23% from the second quarter of last year and making up about a quarter of the group’s total. The investment bank revenue stream ...

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