UBS Rises to JPMorgan's Top Bank Pick in Wealth Management

UBS Group AG’s recently merged wealth-management business is the best-positioned globally, according to JPMorgan Chase & Co. Switzerland’s largest bank is JPMorgan’s top pick in the wealth-management sector over local rivals Credit Suisse Group AG and Julius Baer Ltd. thanks to its scale in Asia’s booming wealth market, analysts led by Kian Abouhossein wrote in a note to clients. "We change our pecking order with UBS now our preferred play, as we see better risk reward with a strong wealth management franchise in the medium term, with higher mandate penetration, higher share of ultra-high-net-worth clients and an equity-geared investment bank," the analysts said.