Hacker News Reader

I imagine $1.4 billion is a rounding error on a rounding error to UBS.

It's rather ca 100% of their average yearly earnings or 3% of their current market cap/6-10% of their market cap a few years ago.

UBS 2021 net income was US$ 7.6 billion and they have $1.12 trillion in assets under management.

Their AUM is not really relevant. That’s not their money.

$1.4B is a rounding error to big tech companies or a big bank like Chase or BoA.

For UBS, it is a decent percent of their profit.