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UBS smashes expectations with best profits for six years

Previously A Robust Financial Hub, Big Banks Downsizing Offices In Stamford, Connecticut
Net profits came in at $2.3bn in the three months to the end of September, well ahead of analysts’ expectations of $1.5bn (Photo by Spencer Platt/Getty Images)

Swiss investment banking giant UBS registered its best quarterly profit for six years driven by a sharp uptick in trading activity by the world’s ultra wealthy.

Net profits came in at $2.3bn in the three months to the end of September, well ahead of analysts’ expectations of $1.5bn.

More to follow.