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BofA knocks UBS off top spot in private banking league


“The confidence and swagger of the UBS culture has been dented badly,” said Sebastian Dovey, managing partner with Scorpio.

Though reports of job cuts in the sector were rife last year, a number of banks opted to add staff.

The study also uncovered scant evidence of dissatisfied investors looking to vote with their feet and transfer funds to other asset managers in a “flight to quality”

Swiss banks also fared better than expected – with UBS reporting $4.95bn in ordinary profits – the highest of any bank surveyed.

dent くぼむ,へこむ

rife 〈悪疫・悪いことが〉流行して,広まって

uncover 〈陰謀・秘密などを〉暴露する

scant 〈知識・経験・聴衆など〉乏しい,わずかな,不十分な

fare [様態の副詞を伴って] 〈人が〉(よく,まずく)やっていく,暮らす

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