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Update: Market Chatter: UBS Eyes Rewards to Bankers for Landing New Clients
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Update: Market Chatter: UBS Eyes Rewards to Bankers for Landing New Clients
May 10, 2024 6:37 AM

09:01 AM EDT, 05/10/2024 (MT Newswires) -- (Updates with a response from UBS in the final paragraph.)

UBS Group ( UBS ) is considering a plan to reward bankers who land rich clients for the investment bank's wealth management business, Bloomberg News reported Friday, citing people with knowledge of the matter.

The sources said that bankers who attract fresh clients in Asia and Europe would receive referral fees. Details remain under discussion and no decision has yet been made, the sources told Bloomberg.

UBS declined to comment, describing the report as "market rumors."

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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