Margot Patrick

1 month ago | wsj.com | Margot Patrick

Family offices in the U.S. managing multi-billion dollar wealth allocated 86% of their portfolios into investments in North America last year, up from 74% in 2020, according to a wealth report Wednesday from UBS. UBS said rich American families have regarded international markets as only marginal to their returns in recent years, and that no other region has such a big home bias. The heavier weighting into U.S. markets came while valuations for tech stocks and other growth companies soared.

1 month ago | wsj.com | Aruna Viswanatha |Margot Patrick

Former employees set to strike it rich for telling U.S. authorities Credit Suisse wasn’t living up to its promise to block tax evasionA decade ago, Credit Suisse pleaded guilty to helping Americans evade taxes by stashing cash and assets overseas and pledged to stop doing so. Now former bank employees collectively stand to make up to $150 million for quietly telling U.S. authorities that Credit Suisse wasn’t living up to its promise. Copyright ©2025 Dow Jones & Company, Inc. All Rights Reserved.

1 month ago | fnlondon.com | Aruna Viswanatha |Margot Patrick

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1 month ago | wsj.com | Joe Wallace |Margot Patrick

Some European banks have invested heavily in trading to compete better with Wall Street rivals. Those efforts are paying off. Barclays’s traders had a blowout first quarter, as market volatility began to stir ahead of President Trump’s April 2 “Liberation Day” tariffs. At UBS, meanwhile, clients traded more in early April than during the busiest days of the pandemic. Barclays reported forecast-beating profit Wednesday, boosted by a 27% rise in adjusted income from stock trading.

1 month ago | wsj.com | Joe Wallace |Margot Patrick

Two of Europe’s largest banks set aside more money for soured loans, preparing for the risk that President Trump’s trade war hurts the global economy. London-listed HSBC—a huge funder of international trade—raised its expected credit losses to $900 million, up about $200 million from a year ago. In what it called a “consensus downside” scenario, where higher tariffs slow global growth, HSBC said expected losses could rise by another $500 million and revenue could be cut by a few percentage points.