Union Bancaire Privée records gross earnings of CHF 167 million and expands its expertise in alternative investments and other asset management fields
- Union Bancaire Privée (UBP) has announced gross earnings of CHF 166.9 million (USD 154.5 million) for the first half of 2009, in line with the Bank’s expectations. - UBP has attracted CHF 4 billion (USD 3.7 billion) worth of net inflows of capital from private clients (+8.64%). Assets under management amounted to CHF 81.63 billion (USD 75.58 billion) as at 30 June 2009, compared with CHF 100.7 billion (USD 94.78 billion) at the end of 2008. This figure reflects both the contraction of the alternative asset management industry, which started in the last quarter of 2008 and lasted