UBS - Wealth Management International & Switzerland

Search only in Quarterly Reporting Q3 2007

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Business Unit reporting

Business Unit reporting
	As of or for the quarter ended			% change from		Year to date
CHF million, except where indicated	30.9.07	30.6.07	30.9.06	2Q07	3Q06	30.9.07	30.9.06
Income	3,322	3,202	2,618	4	27	9,595	8,007
Adjusted expected credit loss ¹	(7)	(6)	(7)	17	0	(21)	(22)
Total operating income	3,315	3,196	2,611	4	27	9,574	7,985
Cash components	978	927	720	6	36	2,790	2,281
Share-based components ²	33	42	41	(21)	(20)	110	101
Total personnel expenses	1,011	969	761	4	33	2,900	2,382
General and administrative expenses	265	261	224	2	18	758	645
Services (to) / from other business units	398	396	377	1	6	1,175	1,107
Depreciation of property and equipment	24	23	21	4	14	67	60
Amortization of intangible assets	1	4	2	(75)	(50)	14	6
Total operating expenses	1,699	1,653	1,385	3	23	4,914	4,200
Business Unit performance before tax	1,616	1,543	1,226	5	32	4,660	3,785

KPIs
Invested assets (CHF billion)	1,297	1,280	1,086	1	19
Net new money (CHF billion) ³	35.1	32.7	23.4			101.7	78.6
Gross margin on invested assets (bps) ⁴	103	103	100	0	3	104	104
Cost / income ratio (%) ⁵	51.1	51.6	52.9			51.2	52.5
Cost / income ratio excluding the European wealth management business (%) ⁵	47.7	47.6	48.7			47.3	48.3
Client advisors (full-time equivalents)	5,629	5,342	4,586	5	23
Client advisor productivity
Revenues per advisor (CHF thousand) ⁶	606	616	581	(2)	4	1,848	1,837
Net new money per advisor (CHF thousand) ⁷	6,399	6,293	5,197			19,586	18,034
Invested assets per advisor (CHF thousand) ⁸	234,892	238,356	233,537	(1)	1

International clients
Income	2,524	2,422	1,917	4	32	7,220	5,836
Invested assets (CHF billion)	1,010	992	815	2	24
Net new money (CHF billion) ³	33.3	30.1	21.3			92.8	71.9
Gross margin on invested assets (bps) ⁴	101	102	97	(1)	4	102	101

European wealth management (part of international clients)
Income	315	290	250	9	26	887	738
Invested assets (CHF billion)	168	163	138	3	22
Net new money (CHF billion) ³	7.3	2.6	2.7			15.3	16.4
Client advisors (full-time equivalents)	1,031	987	845	4	22
1 In management accounts, adjusted expected credit loss rather than credit loss expense or recovery is reported for the business groups (see note 2 to the financial statements). 2 Additionally includes social security contributions and expenses related to alternative investment awards. 3 Excludes interest and dividend income. 4 Income (annualized as applicable) / average invested assets. 5 Operating expenses / income. 6 Income / average number of client advisors. 7 Net new money / average number of client advisors. 8 Average invested assets / average number of client advisors.
	As of or for the quarter ended			% change from		Year to date
CHF million, except where indicated	30.9.07	30.6.07	30.9.06	2Q07	3Q06	30.9.07	30.9.06

Swiss clients
Income	798	780	701	2	14	2,375	2,171
Invested assets (CHF billion)	287	288	271	0	6
Net new money (CHF billion) ¹	1.8	2.6	2.1			8.9	6.7
Gross margin on invested assets (bps) ²	111	109	106	2	5	111	111

Capital return and BIS data
Return on allocated regulatory capital (%) ³						80.8	80.2
BIS risk-weighted assets	65,375	61,900	50,180	6	30
Goodwill and excess intangible assets ⁴	1,778	1,764	1,604	1	11
Allocated regulatory capital ⁵	8,316	7,954	6,622	5	26

Additional information
Recurring income ⁶	2,498	2,368	2,059	5	21	7,133	5,997
Client assets (CHF billion)	1,650	1,619	1,368	2	21
Personnel (full-time equivalents)	15,404	14,680	13,132	5	17
1 Excludes interest and dividend income. 2 Income (annualized as applicable) / average invested assets. 3 Year to date Business Unit performance before tax (annualized as applicable) / allocated regulatory capital year to date average. 4 Goodwill and intangible assets in excess of 4% of BIS Tier 1 Capital. 5 10% of BIS risk-weighted assets plus goodwill and excess intangible assets. 6 Interest, asset-based revenues for portfolio management and fund distribution, account-based and advisory fees.

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Wealth Management International & Switzerland

Business Unit reporting