UBS to Transfer Fund Administration Units to Northern Trust

08:06 AM EDT, 10/06/2026 (MT Newswires) -- UBS Group (UBSG.SW) will exit the fund administration business by transferring related units in Switzerland and Luxembourg to US financial services company Northern Trust. The Swiss bank expects the divestment of the traditional and alternatives fund administration businesses, which it inherited from Credit Suisse as part of its acquisition of its former rival, to close in the second quarter of 2027. The migration of the services to Northern Trust is expected to take two years, according to a Tuesday release. UBS also extended the long-standing fund administration relationship of its Swiss and Luxembourg management companies with Northern Trust to include investment funds it services itself.