UBS IB benefits from leveraged capital markets, IP sale

UBS_Adobe_575x375_20October2020
By Jasper Cox
20 Oct 2020

UBS's investment bank beat analyst consensus as capital markets revenue was up sharply year-on-year, while a sale of intellectual property rights resulted in a one-off gain, the bank showed in third quarter results on Tuesday.

The third quarter was group chief executive Sergio Ermotti's final full one in charge. Ralph Hamers will step in as new CEO from the start of next month.

Maria Rivas, analyst at DBRS Morningstar, said that with UBS under Hamers she expected "focus on further strengthening" ...

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