Despite outflows from its U.S. wealth management unit, UBS AG reported stronger second quarter results Tuesday as outflows from its private bank continued to slow.
The Zurich-based company’s U.S. wealth management arm recorded a $63.7 million loss. The company attributed the loss to restructuring charges. The parent bank reported a profit of $1.91 billion, up from a loss of $1.33 billion a year earlier.
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