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Tuesday, January 31, 2023

UBS WM Americas Headcount Stays Regular in 2022

Advisor headcount in UBS’ World Wealth Administration Americas division remained regular year-over-year, although whole income fell, regardless of a lift from greater internet curiosity earnings, in accordance to the financial institution’s This autumn 2022 earnings.

CEO Ralph Hamers pressured that UBS’ world efficiency throughout 2022 got here within the midst of “a difficult macroeconomic atmosphere, persistent inflation, speedy central financial institution tightening, the Russia–Ukraine battle, the influence of COVID in China and different geopolitical tensions.”

In whole, advisors (or full-time equivalents) in UBS GWM Americas (which incorporates america, Canada and Latin America), stood at 6,245, with the agency’s world depend at 9,215. In This autumn 2021, these numbers stood at 6,218 and 9,329, respectively.

Whole income for the Americas Wealth Administration division fell 5% year-over-year by $126 million to $2.64 billion, pushed by decrease recurring internet charges and transaction-based earnings, in keeping with the earnings report. Internet curiosity earnings elevated 37% year-over-year within the fourth quarter, in keeping with UBS.

In This autumn, World Wealth Americas generated internet new fee-generating property totaling about $4.2 billion, in comparison with $21.9 billion in This autumn 2021. UBS outlined new fee-generating property as its sum of discretionary and nondiscretionary wealth administration portfolios, in addition to property the place revenues are “predominantly of a recurring nature.” 

GWM Americas additionally noticed motion in different investments, with $10 billion in internet new commitments to personal markets in the course of the course of the yr, in keeping with the This autumn earnings. Nevertheless, invested property dropped from $1.84 to $1.58 billion between This autumn 2022 and the prior yr’s fourth quarter, in keeping with the earnings report. The American wealth administration arm’s pre-tax earnings stood at $375 million in This autumn 2022, a year-over-year drop from $471 million, a $96 million lower.

Regardless of the worldwide financial outlook, Hamers stated he was optimistic concerning the coming yr, touting the agency’s operational resilience, capital energy and era in a press release accompanying the earnings.

“We’re beginning 2023 from a place of energy,” he stated. “We stay dedicated to a progressive dividend and count on to repurchase greater than ($5 billion) of shares in 2023.”

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