UBS's way forward

On August 12, UBS announced that it will separate its business divisions into three autonomous units and vest them with increased operational authority and accountability.

Cross-divisional collaboration will be promoted and driven to yield the maximum possible revenue generation for the firm, within a clear framework of servicing, revenue sharing and referral arrangements at market terms.

UBS will continue to invest in and develop its global wealth management business, its core asset, with the aim of strengthening both its presence in international growth markets and its leading position in Switzerland.

With a strong capital base, the underlying strength of its core businesses, and the measures it has implemented, UBS has created the basis to weather one of the most difficult periods in the history of the industry.