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UBS Ranked As UK’s Fastest Growing Wealth Manager

by Carla Johnson, Investors Offshore.com

31 August 2005

UBS has been named as Britain's fastest-growing wealth manager after the firm received an additional £8.4 billion ($15 billion) in funds from wealthy clients during 2004, a recent survey has revealed.

According to Tru-Est, publisher of the annual Private Asset Managers survey, private client assets managed by UBS Wealth Management nearly doubled to £18.2 billion in 2004, thanks mainly to strong organic growth and the acquisition of Laing & Cruickshank, a smaller rival.

“They’ve been piling on assets at a very significant rate,” observed James Anderson, chairman of Tru-Est, according to The Times newspaper.

Credit Suisse, Coutts & Co and GAM, which is a separate arm of UBS, took the next three places in the league table. Coutts, which is owned by Royal Bank of Scotland, remains the highest ranked institution in terms of the total increase in private client assets over three and five years.

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