UBS to expand presence in U.S. market – Swiss paper

(Reuters) – Swiss bank UBS plans to expand its presence in the U.S. market as part of its strategy to hit $150 billion in net new money, or inflow of new funds, per year, an executive told Swiss newspaper NZZ Am Sonntag in an interview published on Sunday.

The fourth-largest asset manager in the United States plans to invest heavily over the next three years, Iqbal Kahn, head of its asset management division, told the paper.