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UBP Grows Assets, Inflows In 2019

Swiss private bank Union Bancaire Privée published its annual results today, seeing assets rise 10.6% in 2019 to CHF140.3bn, an increase attributable "to favourable markets and the strong performances of our managed mandates".

The bank also saw an increase in inflows, with the net amount being CHF4.5bn last year. Revenues also increased marginally but earnings were down to CHF187.8mn from CHF202.4mn in 2018. The 2019 result includes the sale of real estate property in London as well as the payment of USD 14 million to the US Department of Justice as part of the Swiss Bank Program.

“Our industry is facing major challenges such as negative interest rates, margin pressure, new competitors, and digital development. It is, therefore, vital that we continuously anticipate, innovate and adapt our offering to the fast-changing requirements of both private and institutional clients, as demonstrated by our successful private market product offering,” says UBP's CEO Guy de Picciotto.

UBP has several interests in alternative investments. It has been investing in hedge funds on behalf of its clients since 1972, has a UCITS platform and a fund of hedge fund product.

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