Stunning (imho): UBS reports 78% rise in 3Q Profits

[cosmicdot]

Going back in time ... some may recall that ...
`````````````````````````````````````````````````````
UBS snags Enron's online assets
But faces challenge of winning back customers

Story by Michael Meehan

JANUARY 21, 2002 (COMPUTERWORLD ) - As scandal continued to surround
Enron Corp. last week, UBS Warburg quietly snatched up the IT
infrastructure of the energy giant's online gas and power trading
operation, for no money down.

The deal, approved by the U.S. Bankruptcy Court in New York on Jan.
18, could turn out to be a coup for UBS, since many experts
considered the trading operations to be the keystone in Enron's one-
time position as the seventh-largest company in the U.S. But UBS,
which will assume none of Enron's past, current or future liabilities
or trading positions, faces challenges in its bid to return
EnronOnline to glory, including persuading energy traders to bring
their business back to the online exchange
~more~

http://www.computerworld.com/managementtopics/ebusiness/story/0,10801,67584,00.html
------------------------$$$$$$$------------------------

UBS Reports 78 Percent Rise in 3Q Profits

November 11, 2003 08:27 AM EST


ZURICH, Switzerland - UBS, Switzerland's biggest bank, said its
profit rose 78 percent in the third quarter due to strong revenues
from its fixed income business and an inflow of new assets for the
bank to manage.

UBS said Tuesday it earned 1.67 billion Swiss francs ($1.2 billion)
in the July-September period compared with 942 million francs a year
ago.

The latest results exceeded analysts' expectations for a profit of
1.45 billion francs ($1.1 billion) and were the highest for UBS in
three years.

Operating income rose 6 percent to 8.49 billion francs ($6.2
billion), benefiting from higher fee and commission income, a result
of the increase in assets under management. Corporate finance fees
also rose, reflecting a pickup in corporate activity as well as a
strengthening of UBS's competitive position, the bank said.

"We captured revenue opportunities despite volatile markets,
particularly in fixed income, while the strong net new money inflow
again shows our substantial competitive progress," said chief
executive Peter Wuffli.

~snip~

http://start.earthlink.net/newsarticle?cat=1&aid=D7UOE7D01_story