UBS Q1 figures dented by private equity losses

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SWITZERLAND/GLOBAL - Swiss financial group UBS posted a 14% decrease in first quarter net profits for 2002 after figures were bruised by losses in its private equity and investment banking businesses.

The firm reported a Q1 net profit of CHF1,363m, a figure still 23% higher than Q4 2001. Peter Wuffli, president of the group executive board, conceded difficult market conditions during Q1, but no...

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