UBS AG , Switzerland's biggest bank , said gains at its investment bank fueled an increase in second- quarter profit and announced plans to buy back the fund set up by the central bank in 2008 to help it shed toxic assets.
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UBS AG should consider splitting its investment bank from the wealth management and Swiss banking businesses, shareholder Knight Vinke Asset Management LLC said.
UBS AG , the Swiss lender shrinking its investment banking business, overtook Bank of America Corp. to top a ranking of the world's biggest wealth managers compiled by Scorpio Partnership.