UBS spending $1 billion on IT overhaul
UBS (UBSG.S), the world's biggest private bank, is spending around 1 billion Swiss francs (0.82 billion pounds) to standardize the IT platform across its flagship wealth management business, an investment it hopes will ultimately help lower costs.
"This is about integrating our historically fragmented infrastructure that we have globally into one platform," the Swiss bank's chief operating officer for wealth management, Dirk Klee, told Reuters.
"So we want to have the same processes, the same way of approaching UBS and we also want to raise synergies and scale in the back... read more
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