The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter said, heightening scrutiny of one of the world's biggest wealth managers.

The review concerns Russian customers at Credit Suisse that UBS is now in charge of after rescuing the lender, two of the people said. Credit Suisse, UBS' smaller Swiss peer, imploded in March 2023 following years of scandals from spying to laundering drug money.

Credit Suisse, UBS’ smaller Swiss peer, imploded in 2023 following years of scandals from spying to laundering drug money. Read more at straitstimes.com.

UBS Global Wealth Management has cut its forecast for Chinese equities due to rising concerns over potential US tariffs and a disappointing domestic stimulus-response.

China may embrace greater stimulus, bolster manufacturing, and allow the yuan to weaken to offset the negative effects of a second Trump presidency on the Chinese economy, analysts said.

Swiss money manager cuts mid-2025 and end-2025 targets for MSCI China Index because of tariff uncertainties and disappointing stimulus.