UBS Holding on to Spanish Business
By Mei Ling Tan
1 min read
A few years after selling its wealth management business in Spain, UBS will soon serve wealthy clients on the peninsula again.
UBS will keep Credit Suisse’s private banking business in Spain, citing a statement by a spokesperson.
In an effort to «restore calm» among bankers and clients after recent turbulences related to its takeover of Credit Suisse, the report said that Spain’s private wealth market is the first UBS has committed to openly.
In 2021 UBS sold its Spanish office to Singular Bank for an undisclosed amount.