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Hoffman-Becking thinks UBS' other big division, wealth management, will post an operating profit of about 2.8 billion Swiss francs (42.4 billion) this year, some 54.0% below the unit's results in 2007.
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The division, Wealth Management Americas, had net money outflows of 23 billion Swiss francs for the quarter, but it reported net new money of 16 billion Swiss francs.
Grill owner Pat Burke, another long-term Topangan, translates the division of wealth and property into local slang.
They also think that an unequal division of wealth, which Conservative politicians tend to regard as no bad thing, correlates with increased gloom.
The so-called expatriate accounts are maintained in the same division, global wealth management and business banking, that oversaw the offshore accounts business now under criminal investigation.
We granted tax cuts to the richest 1percentt (corporate bigwigs, well-to-do guitar players), increasing the division of wealth that threatens to destroy our social contract with one another and render mute the promise of "one nation indivisible".
"I believe that the division of wealth we have in the United States has been skewed too much, and I think it would be better if it were less skewed," he said.
Plans to improve corporate governance and risk management, and split the securities division from wealth management, have so far had little impact on investor confidence.
Rich or poor, they all struggle with an often unabashed culture of entitlement and division of wealth, which is often painfully pronounced here.
The division in wealth between the rich, industrial north and the poor, rural south; the enduring grip of the country's Mafia; and the cult of machismo for starters.
The most jarring disconnect between reality and wherever New Zealand is, was around the division of wealth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com