UBS aims to expand its wealth management business in the U.S. through potential M&A activities within the next three to four years, Chair Colm Kelleher told the the Swiss NZZ newspaper Sunday, according to Reuters.
Since its acquisition of Credit Suisse last March, UBS has been criticized for its expanded balance sheet, which now exceeds $1.6 trillion — nearly twice the size of the Swiss economy. This substantial growth has prompted Swiss authorities to review the regulation of systemically important banks in the country.
