Marc Filippino Simon Foy is the FT’s European banking correspondent. Thanks, Simon. Simon Foy Thanks, Marc.

UBS Group reported a net profit attributable to shareholders of $1.69bn for Q1 2025, a 3.5% decrease from $1.76bn in the same period last year. Total revenues slipped 1.4% year-on-year to $12.56bn.

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On Wednesday, UBS reported its advisor head count for the Americas region (which includes the United States, Canada and Latin America) was 5,884, a 1.4% decrease from the prior quarter and a 3.2% ...