UBS steps into ‘Gen Z’ push with $1.4 bln Wealthfront buy
Breadcrumb Trail Links PMN Business Author of the article: Reuters Michael Shields and Brenna Hughes Neghaiwi Article content ZURICH — UBS has agreed to buy California-based digital wealth management start-up Wealthfront in a $1.4 billion all-cash deal, as the Swiss bank targets younger tech-savvy investors in the United States. UBS said it would make Wealthfront's capabilities "the foundation" as it seeks to grow business amongst the 130 million millennial and Gen Z investors in the United States who will "own an increasing share of the world's wealth." The acquisition marks the first major deal in Chief Executive Ralph Hamers' bid https://www.reuters.com/business/finance/ubs-ramps-up-netflix-banking-tap-into-stream-millionaires-2021-06- 07 to reach customers outside...