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2021-04-27
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UBS Takes Surprise $774 Million Hit From Archegos Meltdown<blockquote>瑞银集团因Archegos崩溃而意外损失7.74亿美元</blockquote>
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Even with the Archegos hit, UBS reported better-than-expected first quarter profit of $1.82 billion as wealth management income climbed.</p><p><blockquote>这一损失导致全球市场业务收入下降5.54亿美元，掩盖了股票衍生品和现金股票的激增。尽管Archegos受到打击，但随着财富管理收入攀升，瑞银公布的第一季度利润为18.2亿美元，好于预期。</blockquote></p><p> Switzerland’s largest bank had remained quiet on the collapse of Bill Hwang’s family office for weeks, even as its biggest rival, Credit Suisse Group AG, unveiled a $5.5 billion hit and Japan’s Nomura Holdings Inc. also warned of steep losses. While Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo all managed to limit or avoid hits, Morgan Stanley was criticized by some investors and analysts for revealing a $911 million loss during its earnings.</p><p><blockquote>瑞士最大的银行几周来一直对Bill Hwang家族办公室的倒闭保持沉默，尽管其最大的竞争对手瑞士信贷集团(Credit Suisse Group AG)公布了55亿美元的损失，日本野村控股(Nomura Holdings Inc.)也警告称将出现巨额损失。尽管高盛集团(Goldman Sachs Group Inc.)、摩根大通(JPMorgan Chase&Co.)和富国银行(Wells Fargo)都设法限制或避免了打击，但摩根士丹利(Morgan Stanley)因在财报中披露9.11亿美元亏损而受到一些投资者和分析师的批评。</blockquote></p><p> UBS fell as much as 4% in early Zurich trading, leading European bank stocks lower.</p><p><blockquote>瑞银苏黎世早盘一度跌4%，领跌欧洲银行股。</blockquote></p><p> The “Archegos losses have taken the shine of these results,” JPMorgan analysts Kian Abouhossein and Amit Ranjan wrote in a note.</p><p><blockquote>摩根大通分析师Kian Abouhossein和Amit Ranjan在一份报告中写道，“Archegos的亏损掩盖了这些业绩”。</blockquote></p><p> The turmoil at Credit Suisse had afforded UBS Chief Executive Officer Ralph Hamers a period of relative calm, even as the bank fights a $4.5 billion penalty in France and the new CEO himself saw his short tenure complicated by a Dutch probe into his role in a money-laundering case at his former employer ING Groep NV. Hamers said UBS expects an additional $87 million trading loss in the second quarter from exiting its remaining Archegos exposure in April.</p><p><blockquote>瑞士信贷的动荡让瑞银首席执行官拉尔夫·哈默斯(Ralph Hamers)度过了一段相对平静的时期，尽管该银行正在法国面临45亿美元的罚款，而且新任首席执行官本人也发现，荷兰对他在一项调查中的角色进行了调查，这使他短暂的任期变得更加复杂。他的前雇主ING Groep NV的洗钱案件。Hamers表示，瑞银预计，由于4月份退出剩余的Archegos敞口，第二季度将额外损失8700万美元的交易损失。</blockquote></p><p> “We are all clearly disappointed and are taking this very seriously,” the CEO said. “A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”</p><p><blockquote>这位首席执行官表示：“我们显然都感到失望，并非常认真地对待此事。”“我们正在对相关风险管理流程进行详细审查，并采取适当措施以避免未来出现此类情况。”</blockquote></p><p> Hamers, speaking in a Bloomberg Television interview, said that the bank would be seeking more transparency from family offices and other big clients at the wealth management division, though there are no plans to cut back the prime brokerage business as Credit Suisse plans to do. Some lenders were blindsided by the positions that Hwang had accumulated before the meltdown.</p><p><blockquote>哈默斯在接受彭博电视台采访时表示，该银行将寻求财富管理部门的家族办公室和其他大客户提高透明度，但没有计划像瑞士信贷计划那样削减大宗经纪业务。一些贷款人对黄禹锡在金融危机前积累的头寸感到措手不及。</blockquote></p><p> The Archegos impact also overshadowed a strong quarter at the bank’s key wealth management business, where UBS benefited from higher average fee-generating assets and transaction fees, compensating for a decline in net interest income. The unit, led by Iqbal Khan and Tom Naratil, posted better-than-expected pretax profit of $1.41 billion, , the bank said in a statement on Tuesday. It gave a mixed outlook for the second quarter, warning of lower seasonal activity while saying higher asset prices should have a positive effect on recurring fee income.</p><p><blockquote>Archegos的影响也掩盖了该银行主要财富管理业务的强劲季度，瑞银受益于较高的平均收费资产和交易费用，弥补了净利息收入的下降。该银行周二在一份声明中表示，由伊克巴尔·汗(Iqbal Khan)和汤姆·纳拉蒂尔(Tom Naratil)领导的该部门公布的税前利润为14.1亿美元，好于预期。它对第二季度的前景好坏参半，警告季节性活动下降，同时表示资产价格上涨应该会对经常性费用收入产生积极影响。</blockquote></p><p> Momentum continued with $36 billion in net inflows comprised of fee-generating assets. UBS has decided to no longer report the broader metric of net new money, which includes idle deposits and custody assets. The bank issued $11 billion in net new loans in the first quarter, following a year of $26 billion in issuance leading the bank to meet its target early.</p><p><blockquote>这一势头仍在继续，由收费资产组成的净流入为360亿美元。瑞银决定不再报告更广泛的净新增资金指标，其中包括闲置存款和托管资产。该行第一季度净新增贷款110亿美元，此前一年的发行量为260亿美元，提前实现了目标。</blockquote></p><p> Trading Impact</p><p><blockquote>交易影响</blockquote></p><p> At the investment bank, the Archegos hit drove down equities revenue by 20%, though it would have gained 48% excluding the hit. Fixed income trading declined about 37%.</p><p><blockquote>在这家投资银行，Archegos的打击导致股票收入下降了20%，尽管如果不考虑此次打击，股票收入将增长48%。固定收益交易下降了约37%。</blockquote></p><p> Hamers, six months into the job, is taking a deep look at where he can cut costs and digitalize operations, including in the high-touch business of serving the world’s wealthiest people. He wants to use artificial intelligence to target how to sell more products to the world’s wealthy and rethink what markets the bank operates in, with a heavy focus on Asia.</p><p><blockquote>上任六个月的哈默斯正在深入研究他可以在哪些方面削减成本和实现运营数字化，包括为世界上最富有的人提供服务的高接触业务。他希望利用人工智能来瞄准如何向世界富人销售更多产品，并重新思考该银行在哪些市场开展业务，重点关注亚洲。</blockquote></p><p> The implementation of new initiatives are expected to provide $1 billion in gross saving per year by 2023. The bank will also take a restructuring charge of $300 million in the second quarter related to their implementation.</p><p><blockquote>到2023年，新举措的实施预计每年将节省10亿美元。该银行还将在第二季度收取与实施相关的3亿美元重组费用。</blockquote></p><p> As part of his digital plans, Hamers replaced the chief operating officer position with that of chief digital and information officer. UBS named Mike Dargan to that role, joining the group executive board on May 1, according to a separate statement. He has been head of group technology at the Zurich-based bank since joining in 2016.</p><p><blockquote>作为其数字计划的一部分，哈默斯用首席数字和信息官取代了首席运营官的职位。根据另一份声明，瑞银任命迈克·达根(Mike Dargan)担任该职务，并于5月1日加入集团执行董事会。自2016年加入这家总部位于苏黎世的银行以来，他一直担任集团技术主管。</blockquote></p><p> Highlights from UBS’s first-quarter earnings:</p><p><blockquote>瑞银第一季度财报亮点：</blockquote></p><p> Net income of $1.82b vs. estimate of $1.63bWealth management pretax profit of $1.4b vs $1.19b estimateAsset management pretax profit of $227m</p><p><blockquote>净利润为$1.82 B，预期为$1.63 B财富管理税前利润为$1.4 B，预期为$1.19 B资产管理税前利润为$2.27亿</blockquote></p><p></p>","source":"lsy1584348713084","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>UBS Takes Surprise $774 Million Hit From Archegos Meltdown<blockquote>瑞银集团因Archegos崩溃而意外损失7.74亿美元</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nUBS Takes Surprise $774 Million Hit From Archegos Meltdown<blockquote>瑞银集团因Archegos崩溃而意外损失7.74亿美元</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Yahoo</strong><span class=\"h-time small\">2021-04-27 15:54</span>\n</p>\n</h4>\n</header>\n<article>\n<p>UBS Group AG posted a $774 million hit from the implosion of Archegos Capital Management and said it plans to review its risk procedures after it joined Morgan Stanley in surprising investors over the size of the impact from the collapse of the U.S. family office.</p><p><blockquote>瑞银集团(UBS Group AG)公布Archegos Capital Management的崩溃造成了7.74亿美元的损失，并表示计划在加入摩根士丹利(Morgan Stanley)的行列后审查其风险程序，这让投资者对这家美国家族办公室倒闭的影响规模感到惊讶。</blockquote></p><p> The loss helped drive a $554 million drop in revenue at the global markets business, overshadowing what would otherwise have been a surge from equity derivatives and cash equities. Even with the Archegos hit, UBS reported better-than-expected first quarter profit of $1.82 billion as wealth management income climbed.</p><p><blockquote>这一损失导致全球市场业务收入下降5.54亿美元，掩盖了股票衍生品和现金股票的激增。尽管Archegos受到打击，但随着财富管理收入攀升，瑞银公布的第一季度利润为18.2亿美元，好于预期。</blockquote></p><p> Switzerland’s largest bank had remained quiet on the collapse of Bill Hwang’s family office for weeks, even as its biggest rival, Credit Suisse Group AG, unveiled a $5.5 billion hit and Japan’s Nomura Holdings Inc. also warned of steep losses. While Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo all managed to limit or avoid hits, Morgan Stanley was criticized by some investors and analysts for revealing a $911 million loss during its earnings.</p><p><blockquote>瑞士最大的银行几周来一直对Bill Hwang家族办公室的倒闭保持沉默，尽管其最大的竞争对手瑞士信贷集团(Credit Suisse Group AG)公布了55亿美元的损失，日本野村控股(Nomura Holdings Inc.)也警告称将出现巨额损失。尽管高盛集团(Goldman Sachs Group Inc.)、摩根大通(JPMorgan Chase&Co.)和富国银行(Wells Fargo)都设法限制或避免了打击，但摩根士丹利(Morgan Stanley)因在财报中披露9.11亿美元亏损而受到一些投资者和分析师的批评。</blockquote></p><p> UBS fell as much as 4% in early Zurich trading, leading European bank stocks lower.</p><p><blockquote>瑞银苏黎世早盘一度跌4%，领跌欧洲银行股。</blockquote></p><p> The “Archegos losses have taken the shine of these results,” JPMorgan analysts Kian Abouhossein and Amit Ranjan wrote in a note.</p><p><blockquote>摩根大通分析师Kian Abouhossein和Amit Ranjan在一份报告中写道，“Archegos的亏损掩盖了这些业绩”。</blockquote></p><p> The turmoil at Credit Suisse had afforded UBS Chief Executive Officer Ralph Hamers a period of relative calm, even as the bank fights a $4.5 billion penalty in France and the new CEO himself saw his short tenure complicated by a Dutch probe into his role in a money-laundering case at his former employer ING Groep NV. Hamers said UBS expects an additional $87 million trading loss in the second quarter from exiting its remaining Archegos exposure in April.</p><p><blockquote>瑞士信贷的动荡让瑞银首席执行官拉尔夫·哈默斯(Ralph Hamers)度过了一段相对平静的时期，尽管该银行正在法国面临45亿美元的罚款，而且新任首席执行官本人也发现，荷兰对他在一项调查中的角色进行了调查，这使他短暂的任期变得更加复杂。他的前雇主ING Groep NV的洗钱案件。Hamers表示，瑞银预计，由于4月份退出剩余的Archegos敞口，第二季度将额外损失8700万美元的交易损失。</blockquote></p><p> “We are all clearly disappointed and are taking this very seriously,” the CEO said. “A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”</p><p><blockquote>这位首席执行官表示：“我们显然都感到失望，并非常认真地对待此事。”“我们正在对相关风险管理流程进行详细审查，并采取适当措施以避免未来出现此类情况。”</blockquote></p><p> Hamers, speaking in a Bloomberg Television interview, said that the bank would be seeking more transparency from family offices and other big clients at the wealth management division, though there are no plans to cut back the prime brokerage business as Credit Suisse plans to do. Some lenders were blindsided by the positions that Hwang had accumulated before the meltdown.</p><p><blockquote>哈默斯在接受彭博电视台采访时表示，该银行将寻求财富管理部门的家族办公室和其他大客户提高透明度，但没有计划像瑞士信贷计划那样削减大宗经纪业务。一些贷款人对黄禹锡在金融危机前积累的头寸感到措手不及。</blockquote></p><p> The Archegos impact also overshadowed a strong quarter at the bank’s key wealth management business, where UBS benefited from higher average fee-generating assets and transaction fees, compensating for a decline in net interest income. The unit, led by Iqbal Khan and Tom Naratil, posted better-than-expected pretax profit of $1.41 billion, , the bank said in a statement on Tuesday. It gave a mixed outlook for the second quarter, warning of lower seasonal activity while saying higher asset prices should have a positive effect on recurring fee income.</p><p><blockquote>Archegos的影响也掩盖了该银行主要财富管理业务的强劲季度，瑞银受益于较高的平均收费资产和交易费用，弥补了净利息收入的下降。该银行周二在一份声明中表示，由伊克巴尔·汗(Iqbal Khan)和汤姆·纳拉蒂尔(Tom Naratil)领导的该部门公布的税前利润为14.1亿美元，好于预期。它对第二季度的前景好坏参半，警告季节性活动下降，同时表示资产价格上涨应该会对经常性费用收入产生积极影响。</blockquote></p><p> Momentum continued with $36 billion in net inflows comprised of fee-generating assets. UBS has decided to no longer report the broader metric of net new money, which includes idle deposits and custody assets. The bank issued $11 billion in net new loans in the first quarter, following a year of $26 billion in issuance leading the bank to meet its target early.</p><p><blockquote>这一势头仍在继续，由收费资产组成的净流入为360亿美元。瑞银决定不再报告更广泛的净新增资金指标，其中包括闲置存款和托管资产。该行第一季度净新增贷款110亿美元，此前一年的发行量为260亿美元，提前实现了目标。</blockquote></p><p> Trading Impact</p><p><blockquote>交易影响</blockquote></p><p> At the investment bank, the Archegos hit drove down equities revenue by 20%, though it would have gained 48% excluding the hit. Fixed income trading declined about 37%.</p><p><blockquote>在这家投资银行，Archegos的打击导致股票收入下降了20%，尽管如果不考虑此次打击，股票收入将增长48%。固定收益交易下降了约37%。</blockquote></p><p> Hamers, six months into the job, is taking a deep look at where he can cut costs and digitalize operations, including in the high-touch business of serving the world’s wealthiest people. He wants to use artificial intelligence to target how to sell more products to the world’s wealthy and rethink what markets the bank operates in, with a heavy focus on Asia.</p><p><blockquote>上任六个月的哈默斯正在深入研究他可以在哪些方面削减成本和实现运营数字化，包括为世界上最富有的人提供服务的高接触业务。他希望利用人工智能来瞄准如何向世界富人销售更多产品，并重新思考该银行在哪些市场开展业务，重点关注亚洲。</blockquote></p><p> The implementation of new initiatives are expected to provide $1 billion in gross saving per year by 2023. The bank will also take a restructuring charge of $300 million in the second quarter related to their implementation.</p><p><blockquote>到2023年，新举措的实施预计每年将节省10亿美元。该银行还将在第二季度收取与实施相关的3亿美元重组费用。</blockquote></p><p> As part of his digital plans, Hamers replaced the chief operating officer position with that of chief digital and information officer. UBS named Mike Dargan to that role, joining the group executive board on May 1, according to a separate statement. He has been head of group technology at the Zurich-based bank since joining in 2016.</p><p><blockquote>作为其数字计划的一部分，哈默斯用首席数字和信息官取代了首席运营官的职位。根据另一份声明，瑞银任命迈克·达根(Mike Dargan)担任该职务，并于5月1日加入集团执行董事会。自2016年加入这家总部位于苏黎世的银行以来，他一直担任集团技术主管。</blockquote></p><p> Highlights from UBS’s first-quarter earnings:</p><p><blockquote>瑞银第一季度财报亮点：</blockquote></p><p> Net income of $1.82b vs. estimate of $1.63bWealth management pretax profit of $1.4b vs $1.19b estimateAsset management pretax profit of $227m</p><p><blockquote>净利润为$1.82 B，预期为$1.63 B财富管理税前利润为$1.4 B，预期为$1.19 B资产管理税前利润为$2.27亿</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://finance.yahoo.com/news/ubs-takes-surprise-774-million-044533955.html\">Yahoo</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"UBS":"瑞银"},"source_url":"https://finance.yahoo.com/news/ubs-takes-surprise-774-million-044533955.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1186489598","content_text":"UBS Group AG posted a $774 million hit from the implosion of Archegos Capital Management and said it plans to review its risk procedures after it joined Morgan Stanley in surprising investors over the size of the impact from the collapse of the U.S. family office.\nThe loss helped drive a $554 million drop in revenue at the global markets business, overshadowing what would otherwise have been a surge from equity derivatives and cash equities. Even with the Archegos hit, UBS reported better-than-expected first quarter profit of $1.82 billion as wealth management income climbed.\nSwitzerland’s largest bank had remained quiet on the collapse of Bill Hwang’s family office for weeks, even as its biggest rival, Credit Suisse Group AG, unveiled a $5.5 billion hit and Japan’s Nomura Holdings Inc. also warned of steep losses. While Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo all managed to limit or avoid hits, Morgan Stanley was criticized by some investors and analysts for revealing a $911 million loss during its earnings.\nUBS fell as much as 4% in early Zurich trading, leading European bank stocks lower.\nThe “Archegos losses have taken the shine of these results,” JPMorgan analysts Kian Abouhossein and Amit Ranjan wrote in a note.\nThe turmoil at Credit Suisse had afforded UBS Chief Executive Officer Ralph Hamers a period of relative calm, even as the bank fights a $4.5 billion penalty in France and the new CEO himself saw his short tenure complicated by a Dutch probe into his role in a money-laundering case at his former employer ING Groep NV. Hamers said UBS expects an additional $87 million trading loss in the second quarter from exiting its remaining Archegos exposure in April.\n“We are all clearly disappointed and are taking this very seriously,” the CEO said. “A detailed review of our relevant risk management processes is underway and appropriate measures are being put in place to avoid such situations in the future.”\nHamers, speaking in a Bloomberg Television interview, said that the bank would be seeking more transparency from family offices and other big clients at the wealth management division, though there are no plans to cut back the prime brokerage business as Credit Suisse plans to do. Some lenders were blindsided by the positions that Hwang had accumulated before the meltdown.\nThe Archegos impact also overshadowed a strong quarter at the bank’s key wealth management business, where UBS benefited from higher average fee-generating assets and transaction fees, compensating for a decline in net interest income. The unit, led by Iqbal Khan and Tom Naratil, posted better-than-expected pretax profit of $1.41 billion, , the bank said in a statement on Tuesday. It gave a mixed outlook for the second quarter, warning of lower seasonal activity while saying higher asset prices should have a positive effect on recurring fee income.\nMomentum continued with $36 billion in net inflows comprised of fee-generating assets. UBS has decided to no longer report the broader metric of net new money, which includes idle deposits and custody assets. The bank issued $11 billion in net new loans in the first quarter, following a year of $26 billion in issuance leading the bank to meet its target early.\nTrading Impact\nAt the investment bank, the Archegos hit drove down equities revenue by 20%, though it would have gained 48% excluding the hit. Fixed income trading declined about 37%.\nHamers, six months into the job, is taking a deep look at where he can cut costs and digitalize operations, including in the high-touch business of serving the world’s wealthiest people. He wants to use artificial intelligence to target how to sell more products to the world’s wealthy and rethink what markets the bank operates in, with a heavy focus on Asia.\nThe implementation of new initiatives are expected to provide $1 billion in gross saving per year by 2023. The bank will also take a restructuring charge of $300 million in the second quarter related to their implementation.\nAs part of his digital plans, Hamers replaced the chief operating officer position with that of chief digital and information officer. UBS named Mike Dargan to that role, joining the group executive board on May 1, according to a separate statement. He has been head of group technology at the Zurich-based bank since joining in 2016.\nHighlights from UBS’s first-quarter earnings:\nNet income of $1.82b vs. estimate of $1.63bWealth management pretax profit of $1.4b vs $1.19b estimateAsset management pretax profit of $227m","news_type":1,"symbols_score_info":{"UBS":0.9}},"isVote":1,"tweetType":1,"viewCount":2017,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/377178851"}
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