UBS Fee Bonanza Lifts Quarterly Profit to 6-Year High

UBS Fee Bonanza Lifts Quarterly Profit to 6-Year High
The logo of Swiss bank UBS is seen in Zurich, Switzerland, on Oct. 25, 2018. Arnd Wiegmann/Reuters
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ZURICH—UBS posted its highest quarterly profit since 2015 on Tuesday, as robust trading activity by the world’s ultra-wealthy led to a 23 percent surge in fee income.

The surprisingly strong results follow double-digit percent gains for net profit in each of the past four quarters and come as Switzerland’s largest bank announced new plans for its digital push including a new advisory service for affluent U.S. clients.