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But at the core, wealth inequality is about people's dreams for their families and their children.
But shareholders can now foresee the Swiss bank's future based around its core wealth management business with a much smaller but viable investment banking operation on the side.
Although neither bank is in danger of collapse, the Swiss National Bank, Switzerland's central bank, moved quickly as it became evident that confidence in UBS's core wealth management business was eroding.
UBS, the Swiss bank, on Tuesday reported strong growth this year in its core wealth management business, welcoming what it said were signs that it was regaining the trust of clients who deserted the bank during the financial crisis.
PARIS — UBS, the biggest Swiss bank, reported strong growth in its core wealth management business early this year, welcoming what it said Tuesday were signs that it was regaining the trust of clients who deserted it during the financial crisis.
His brother, who is two years younger and is now an investment banker at Lehman Brothers, was convinced that the combination of Mr. Bacanovic's ease with wealthy people and his financial smarts would make him the perfect private banker, capable of drawing a bead on the sacred assets, or the core wealth, of some of the richest people in New York.
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Knight Vinke has called on the Swiss bank to separate its risky investment banking business from the core wealth-management arm.
Minmetals confounded market expectations of a bidding war when it responded by withdrawing its proposal.Springtime in ZurichUBS reported that its core wealth-management business had done much better than expected in the first three months of the year, with net inflows of new money reaching SFr11.1 billion ($11.8 billion).
The bank will concentrate on its core strengths: wealth management, Swiss retail customers, and still-appealing bits of investment banking like foreign exchange and equities trading.
In addition to this core family wealth business we have an institutional business that is made up of pension and endowment portfolios.
Kimberley Johnson, an urban studies professor at Barnard-Columbia who is writing a book comparing black communities in Oakland and Newark, N.J., wonders if the most economically successful American cities are belatedly reverting to the European banlieue model, with an urban core of wealth surrounded by a broad ring of poverty.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com