1346 GMT - UBS Group is gaining market share in wealth management and its strength in that market is one of the reasons the bank looks well positioned even if the near-term economic outlook worsens, JPMorgan analysts say in a research note. The first-quarter results of the Swiss banking group's wealth-management arm illustrate its market leadership in the ultra-high-net-worth segment, the sweet spot of wealth management, JPM says. The division's net new fee-generating assets were up 6% in the first quarter and it retained 85% of preferential fixed-term deposits on the platform, JPM says. However, recent tariff risk might lead wealth-management clients to reduce debt in the second quarter, the analysts add. Shares in UBS fall 1.8%. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 30, 2025 09:46 ET (13:46 GMT)
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