UBS Suffers a Decline in Wealth Management Profit

Andre Rochow and Sergio Mati discuss UBS's strategic pivot from debt trading to wealth management, emphasizing the bank's strength in this area despite challenges in gross margins. They highlight the importance of cost-cutting without harming client relationships, suggesting improvements in technology and outsourcing as solutions.

What has been a positive aspect for UBS in the recent quarter?

What does the term 'seed corn' refer to in the context of UBS's cost-cutting strategy?