UBS is not actively benefiting from the crisis at rival Credit Suisse , UBS Chairman Colm Kelleher told a Financial Times banking conference on Wednesday.
Credit Suisse has"We are not actively benefiting at their expense. We view them as a worthy competitor going through a crisis which I believe they will manage," Kelleher said.
He said rich clients at UBS, the world's biggest wealth manager, were holding more cash than at any time since the financial crisis of 2008.deal to buy Wealthfront, an automated wealth provider with a U.S. focus that would have enabled the Swiss bank to expand in the mass affluent wealth category.
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