UBS Group AG is placing its wealthy clients in Europe, Middle East and Africa into a new segment that will be served by the Swiss lender's retail business, finews.com reported Oct. 1, citing a memorandum confirmed by the Swiss bank.
The segment, which will be for clients with up to $500,000 in bankable assets, will receive a new streamlined digital service, the report said.
Meanwhile, UBS' private bankers will focus on expanding the bank's business with ultra-high net worth clients who have more than $50 million in bankable assets, according to the report.
