UBS and Deutsche Börse’s Clearstream unit will enter into a long-term agreement to use the Swiss lender’s wealth and asset management services

UBS Group said Tuesday that it well sell a majority stake in UBS Fondcenter to Clearstream, the post-trade services provider of Deutsche Börse.

The Swiss bank UBS said that it expects to make an after-tax gain of $600m — and recognise a CET1 capital increase of about $400m — from the deal, which it expects to close in the second half of this year.

UBS sells majority stake in Fondcenter to Deutsche Börse

Carlo Martuscelli

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