Global Wealth Management & Business Banking

Business group reporting

Global Wealth Management & Business Banking achieved a pre-tax profit of CHF 2,152 million in first quarter 2008, a decrease of 13% from the prior quarter. In comparison with fourth quarter 2007, each business area reported lower pre-tax profits: the international and Swiss wealth management businesses reported a 13% decline to CHF 1,429 million, Wealth Management US saw a 12% decline to CHF 183 million and Business Banking Switzerland saw a 10% decline to CHF 540 million. Net new money inflows from the wealth management businesses were CHF 5.6 billion in first quarter 2008, down 82% from the prior quarter.

Search only in Quarterly Reporting Q1 2008

Spreadsheets

Business group reporting

Business group reporting
	As of or for the quarter ended			% change from
CHF million, except where indicated	31.3.08	31.12.07	31.3.07	4Q07	1Q07
Income	5,852	6,331	5,961	(8)	(2)
Credit loss (expense) / recovery	(3)	(15)	21	(80)
Total operating income	5,849	6,316	5,982	(7)	(2)
Cash components	2,552	2,586	2,595	(1)	(2)
Share-based components ¹	75	87	107	(14)	(30)
Total personnel expenses	2,627	2,673	2,702	(2)	(3)
General and administrative expenses	727	835	712	(13)	2
Services (to) / from other business units	265	256	301	4	(12)
Depreciation of property and equipment	59	69	52	(14)	13
Amortization of intangible assets	19	21	25	(10)	(24)
Total operating expenses	3,697	3,854	3,792	(4)	(3)
Business group performance before tax	2,152	2,462	2,190	(13)	(2)

Key performance indicators
Cost / income ratio (%) ²	63.2	60.9	63.6

Attributed equity and risk-weighted assets
Average attributed equity (CHF billion) ³	17.0
Return on attributed equity (RoaE) (%) ⁴	50.6
BIS risk-weighted assets (CHF billion) ⁵	89.5	169.7	160.5
Return on BIS risk-weighted assets (%) ⁶	9.6	5.6	5.5
Goodwill and intangible assets (CHF billion) ⁷	5.9	5.8	6.3

Additional information
Invested assets (CHF billion)	1,994	2,298	2,229	(13)	(11)
Net new money (CHF billion) ⁸	3.7	31.7	47.5
Client assets (CHF billion)	3,044	3,554	3,436	(14)	(11)
Personnel (full-time equivalents)	51,439	51,090	48,931	1	5
1 Additionally includes social security contributions and expenses related to alternative investment awards. 2 Operating expenses / income. 3 See page 65 for further explanation. 4 Year-to-date business group performance before tax (annualized as applicable) / attributed equity (year-to-date average). 5 BIS risk-weighted assets (RWA) are according to Basel II; for quarters prior to 1Q08, RWA are according to the Basel I framework. 6 Year-to-date business group performance before tax (annualized as applicable) / BIS RWA (year-to-date average). 7 Quarters prior to first quarter 2008 represent goodwill and intangible assets in excess of 4% of BIS Tier 1 capital. 8 Excludes interest and dividend income.

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