UBS to Counter Trading Troubles With Advisory Work

UBS Group AG plans to focus on growing its merger and IPO advisory business over the next few years to offset industry-wide headwinds in trading, people with knowledge of the matter said. Across the investment bank, revenue may grow by several hundred million Swiss francs annually over the next three to four years, while costs will be kept in check, according to one of the people, who asked not to be identified because the discussions are private. The securities unit had 7.7 billion Swiss francs ($7.7 billion) last year, similar to the year earlier but less than the 8.8 billion francs achieved in 2015.