ZURICH, Feb 4 (Reuters) – UBS expects further outflows in its U.S. wealth management business in the first half of 2026 as advisers leaving the bank take clients with them, chief financial officer Todd Tuckner said on Wednesday.
Tuckner told analysts on a call that UBS was not satisfied with the “net movement” of U.S. wealth advisors, and that a delay between their departure and the impact on assets under management meant UBS expected “further NNM (net new money) headwinds” in 2026.
However, across the whole of 2026, the bank expects net new money to be positive, Tuckner added.
(Reporting by Tommy Reggiori Wilkes, Editing by Ariane Luthi)
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