UBP’s AUM up 11.5% yoy

Geneva headquartered Union Bancaire Privée (UBP) has increased its assets under management by 11.5% year-on-year at end 2015.

The firm’s AUM amounted to CHF110bn (€98.7bn). UBP said new inflows have been coming from institutional clients and those from the acquisition of Coutts EMEA.

Total net inflows reached CHF15.7bn (€14.1bn), which covered the impact of market volatility and the strong Swiss franc, the combined impact of which is estimated at around CHF4bn (€3.6bn).

“Our operating result reflects the resilience of our Private Banking and Asset Management businesses despite the difficult market conditions, thanks mainly to our costs being well controlled as well as a sharp increase in our assets under management”, explained Guy de Picciotto, UBP’s CEO.

The operating result, excluding restructuring costs and provisions, has declined to CHF152m (€136.4m) from CHF163m (€146.3m) at end 2014. UBP said it has been impacted by negative interest rates and currency effects.

Net profit amounted to CHF25.2m (€22.6m), that includes the costs related to the integration of Coutts EMEA and the settlement with US department of justice’s Swiss bank program.

Business revenue reached CHF750m (€673.2m)  in comparison with CHF768m (€689.4m)  at the end of 2014.

Lastly, UBP reported a Tier 1 ratio of 24%.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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