February 5, 2026
Jason Diamond quoted
By Griffin Kelly
UBS closed out 2025 on a high note, just not in its wealth business in the Americas.
The Swiss investment bank beat fourth-quarter earnings expectations Wednesday, posting net profits of $1.2 billion. But those results weren’t enough to hide continued struggles inside the firm’s wealth management division, particularly in the Americas. While UBS’ global wealth unit attracted strong inflows from Asia, Europe and the Middle East, its Americas business lagged behind, shedding more than $14 billion in client assets during the quarter as advisors continued to walk out the door after compensation changes were made last year. Shares of the Zurich-based bank fell about 6% by the close of trading Wednesday.
“You’ll see more advisors leaving, certainly in the first quarter, and they’re going to have a really hard time recruiting competitively for this year,” said Jason Diamond, president of Diamond Consultants.
