UBS’S SUCCESSFUL 2ND QUARTER – @Sergio Ermotti, UBS’ Chief Executive, said in a statement “The results once again demonstrate the value of our diversified business model, allowing us to grow profitably and sustainably over the cycle and in a variety of market conditions.” UBS have reported Sfr732mn in revenues from their Corporate Client Solution Unit, up 9.5% year on year. Their ECM business saw a 48% rise in fees paid, to Sfr289. However, their Advisory revenues were flat and there was a significant drop in Debt Capital Markets work. Sales Trading revenues were flat at Sfr1.3bn. Revenues at the Swiss Investment bank were ahead of last years results, sitting at Sfr2bn and pre-tax profits rose by about 60% (Sfr451). Their Global Wealth Management Business saw pre-tax profits of Sfr582m, up 12% which generated Sfr13.7bn of ‘new money’ of this Sfr11.8bn came from some ultra High-Net-Worth Clients. #SpartanInternational