Family offices & HNIs opting to make direct investments, UBS top banker warns

Pedestrians pass beneath a UBS sign outside a UBS AG bank branch in Zurich, Switzerland, on Thursday, Oct. 23, 2014. Photographer: Gianluca Colla/Bloomberg

UBS Group AG’s top banker to billionaires said the wealthiest clients are sidelining financial institutions as they close private transactions without advice from investment banks.

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