UBS Q3 US sales plunge, profit down 19%

UBS issued 784 structured products worth US$1.3 billion in the US market in the third quarter of 2022. Sales were down 41.4% from the same period in 2021 when volumes stood at US$2.2 billion across 1,643 structured products, SRP data shows. The amount represented a 23.8% decrease quarter-on-quarter. The Swiss bank slid to the fifth place in terms of sales volume during Q3 22, after J.P. Morgan, Citigroup, Morgan Stanley and Goldman Sachs. The scale down comes after the UBS agreed to pay US$25