UBS Group delivered a 38% YoY jump in quarterly profit to $2.9 billion, outperforming expectations as its wealth-management arm capitalized on post-merger synergies and strong asset inflows. Net new money surged to $22 billion, the highest since 2021, largely from ultra-high-net-worth clients reallocating assets after the Federal Reserve’s rate cut. Revenues in the investment-banking unit rose 12%, fueled by renewed deal-making and structured-product demand. The integration of Credit Suisse is finally bearing fruit: expenses dropped 8%, and UBS expects to realize $3 billion in total savings by 2026.

Management also announced a $1 billion share-buyback plan starting next year and signaled further capital distributions as integration costs taper off. CEO Sergio Ermotti emphasized UBS’s renewed focus on Asia and the Middle East regions now contributing nearly a quarter of net inflows. The market rewarded the strong execution, sending shares up 4% on optimism that UBS’s transformation is ahead of schedule. Analysts praised the turnaround, noting that it’s rare to see post-merger profitability accelerate this quickly.