Reported about 9 hours ago
UBS is contemplating a sale of part of its asset management division, primarily focused on real estate investments, as it aims to reconfigure this sector of its business. The assets under review mainly comprise Swiss properties valued at less than $1 billion. This move follows UBS's recent acquisition of Credit Suisse, which expanded its asset management portfolio significantly. The bank seeks to enhance the profitability of its asset management unit, which currently holds 8% of its $1.7 trillion in real estate and private market investments.
Source: YAHOO