wants to push deeper into the U.S. European banks have a checkered history of trying to crack the American market, but the Swiss wealth manager is better set up for the challenge than most.
The company outlined its new strategy on Tuesday alongside better-than-expected full-year results. Strong cash generation enabled a dividend of 50 cents a share—costing roughly $1.7 billion in total—and projected buybacks of $5 billion this year. The only real blemish is a continuing French tax case, against which UBS increased its provision to €1.1 billion despite appealing the latest decision.
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