Transactional revenues at UBS Global Wealth Management have seen a significant increase despite the challenging conditions faced by private banking in recent years.
Adeline Chien, a banker based in Hong Kong, highlights the success of discretionary portfolio management (DPM) mandates in boosting the firm's recurring income in 2024.
Chien points out that UBS's flagship DPM balanced portfolios have achieved impressive returns of 12% in the nine months leading up to September. This strong performance has led many clients to recognize the benefits of DPM solutions, particularly in terms of diversification and overall performance optimization.