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BS is considering selling part of its asset management division focused on real estate investments, according to two people familiar with the matter. The bank aims to revamp its smallest business unit and has been exploring options for several months. The area under review includes Swiss real estate assets worth potentially less than $1 billion.

    As part of a June restructuring, UBS moved some real estate assets into a new unit combining asset management and wealth products. Those left outside are being considered for sale. Potential buyers approached UBS bankers earlier this year to discuss a deal.

    A spokesperson said the bank is investing in its real asset capabilities, including Swiss Real Estate, which remains a key part of its asset management division. The disposal would be the latest step in streamlining UBS' business following its 2023 takeover of Credit Suisse. This acquisition added $600 million to the asset management unit's size.

    UBS is considering "exits of non-strategic businesses" to improve profitability, according to Chief Financial Officer Todd Tuckner. The bank has been disposing of unwanted assets since acquiring Credit Suisse and sold its securitised products Group to Apollo Global Management last year. About 8% of the $1.7 trillion under asset management is invested in real estate and private markets, with Swiss real estate performing better due to lower interest rates.