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UBS AG, one of the world’s leading private banks and asset managers is embarking on a new strategy to help mitigate its costs, part of an effort worth upwards of $1 billion over the next few years, according to a Reuters report.
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UBS like many other banks in Europe have had profit woes in recent quarters, capped off by an ongoing tug-of-war between shareholders’ expectations and lackluster earnings. Traditional names such as Deutsche Bank, Standard Chartered, and Barclays have each resorted to different measures to ... (read more)