ZURICH—UBS Group AG said Friday that its third-quarter net profit rose sharply on gains in its wealth-management and investment units, supporting the bank’s shift toward managing money for wealthy clients while maintaining a scaled-down investment bank. The Swiss banking giant said net profit grew 14% compared with a year earlier, to 946 million Swiss francs ($952.7 million). Operating income rose to 7.15 billion francs from 7.03 billion francs a year earlier.

Source: Wall Street Journal October 27, 2017 08:37 UTC