UBS’s dealmakers posted a 44% gain in fees during the third quarter of 2025 as the Swiss bank has continued a hiring spree in the unit.

Its global banking division brought in $844m in revenue for the third quarter, which was up 52% compared with a year earlier and a record for the bank. This is the biggest year-on-year gain of any European investment bank to report numbers so far, with a rebound in deals bolstering UBS’s US rivals.