Here is a summary of the results and calendar dates  for the third quarter 2012 for the world’s major wealth management firms. Not all of the institutions here are strictly comparable, so the results need to be interpreted with that point in mind. Some of the figures may, for various reasons, be subsequently revised.

UBS

UBS said its global and Americas’ wealth management arms both logged increased profits in the third quarter of this year. The overall Zurich-listed banking group reported a Q3 net loss attributable to shareholders of SFr2.2 billion ($2.35 billion), reversing a Q2 profit of SFr425 million, caused by impairment losses amid major cutbacks to its investment banking business. Across all regions, combined inflows to wealth management totalled more than SFr12 billion in the quarter, UBS said in a statement. Meanwhile, Switzerland’s biggest bank confirmed expectations – as reported in the media – that it will significantly cut its investment banking exposures, reducing total headcount by around 10,000 staff to around 64,000 by 2015.

Wealth management pre-tax profit was SFr600 million in the third quarter of 2012 compared with SFr502 million in the previous quarter. Total operating income increased by SFr55 million to SFr1.789 billion from SFr1.734 billion, mainly reflecting a rise in recurring fees on higher invested assets. Wealth Management Americas’ pre-tax profit in the third quarter of 2012 was $230 million, compared with $211 million in the prior quarter. Operating income was $1.631 billion, an increase of $44 million from $1.587 billion, mostly due to higher transaction-based revenue, partly offset by lower net interest income and lower net trading income.

Credit Suisse

Switzerland’s second biggest bank said that its private banking arm reported net revenues of SFr2.591 billion (around $2.78 billion) in the third quarter of 2012, down 4 per cent on the previous three months and steady from a year ago, reflecting margin pressures where client activity has weakened and due to higher costs. Pre-tax income, at SFr689 million in the quarter, fell 11 per cent from the previous three months but rose sharply – 233 per cent – from a year ago.

Julius Baer

Group assets under management reached a new record high of SFr184 billion (around $196 billion), up 8 per cent, since the end of last year, with total client assets at SFr276 billion, up 7 per cent. The firm said cost reductions will lead to a “standalone implied cost-income ratio of approximately 70 per cent and a stand-alone implied pre-tax profit margin on an adjusted profit basis of approximately 25 basis points for the IWM [international wealth management] business on Julius Baer’s platform in 2015”.

Societe Generale

The bank is due to issue Q3 results on 8 November.

BNP Paribas

The bank is due to issue Q3 results on 8 November

HSBC

The bank is due to issue Q3 results on 5 November

Barclays

The wealth and investment management business of Barclays reported an adjusted pre-tax profit of £79 million (around $127 million) in the third quarter of 2012, up from £65 million a year ago. For the bank as a whole, total adjusted pre-tax profit stood at £1.727 billion, up from £1.337 billion a year ago. Total client assets rose to £177.6 billion at the end of September from £176.1 billion at the end of June this year. The gains principally reflected gains in the high net worth business.

Lloyds Banking Group

Lloyds Banking Group announced a sharp improvement in its underlying profits in the third quarter of this year, while reporting robust progress within its wealth management business. For the banking group as a whole, it logged a total underlying profit of £840 million ($1.354 billion) in the three months to 30 September, double the £419 million profit figure logged in the same period a year ago. After various provisions and deductions, Lloyds reported a pre-tax statutory loss of £144 million in the three-month period to 30 September, but one narrower than the £607 million loss made a year before. The bank has a core Tier 1 capital ratio of 11.5 per cent. The bank, in which the UK government holds a major stake, gave few specific numbers on the wealth management part of the business.

Royal Bank of Scotland

The wealth management arm logged an operating profit, before impairment losses, of £73 million ($117.4 million) in the three months to 30 September, up from £49 million a year ago, while over the nine-month period, the firm's profit rose to £204 million from £187 million. The business, which includes the firm’s flagship Coutts brand, had a net interest margin of 3.88 per cent, up from 2.96 per cent a year before; net interest income was £185 million at end-September, up from £152 million a year ago. The cost/income ratio of this division was 75 per cent, unchanged from the end of June but down from 82 per cent a year before. Assets under management, excluding deposits, stood at £29.5 billion, a 4 per cent decline from the end of June.

DBS

The Singapore-headquartered firm reported net earnings of S$856 million for the third-quarter of 2012, up by 12 per cent from a year ago and up by 6 per cent from the previous quarter. Total income reached S$2 billion as fee income rose to a record and net interest income was sustained at recent highs. For the nine months, net profit rose 13 per cent to S$2.60 billion. The wealth management segment reported net fee and commission income of S$73 million, a jump of 40 per cent.

Deutsche Bank

The asset and wealth management arm of Deutsche Bank logged pre-tax income of €64 million ($82.8 million) in the three months to end-September, a 65 per cent fall from the same period a year ago, while the overall German bank’s income rose 20 per cent year-on-year to €1.127 billion. This business division reported net revenues of €971 million in the third quarter, a rise of €95 million, or 11 per cent, compared to the same period in 2011, the Frankfurt-listed bank said. Among other details, Deutsche said revenues from “other products” in the asset and wealth management (AWM) business rose by €41 million. Of this growth, €29 million was attributable to asset management; the remaining increase in revenues from “other products” of €11 million was attributable to private wealth management mainly due to effects from early redemptions on specific loans in Sal Oppenheim.

Bank of America

Net income at Bank of America's global wealth and investment management business rose 50 per cent year-on-year to $542 million for the third quarter, due to lower expenses and credit costs as well as higher revenue. Despite the 50 per cent year-on-year gain, net income was down slightly from the prior quarter (Q2: $547 million).

Revenue at the division increased 1 per cent year-over-year to $4.3 billion, "largely as a result of higher net interest income," Bank of America said. Non-interest expense fell 4 per cent from the third quarter of 2011 due to FDIC expense and lower support and personnel costs.

JP Morgan

The bank reported record net income for third-quarter 2012 of $5.7 billion, up from $4.3 billion for the same period a year ago. Earnings per share were $1.40 per share, up from $1.02. In the asset management division, net income was $443 million, an increase of $58 million, or 15 per cent, from the prior year. These results reflected higher net revenue, lower non-interest expense and lower provision for credit losses, JP Morgan said. Revenue from private banking was $1.4 billion, up 5 per cent from the prior year. Assets under supervision were $2.0 trillion, an increase of $225 billion, or 12 per cent, from the prior year. Assets under management were $1.4 trillion, an increase of $127 billion, or 10 per cent, due to the effect of higher market levels and net inflows to long-term products. Custody, brokerage, administration and deposit balances were $650 billion, up $98 billion, or 18 per cent.

Goldman Sachs

The Wall Street firm reported net revenues of $8.35 billion and net earnings of $1.51 billion for the third quarter, compared with $1.09 billion and $962 million for the previous quarter, respectively. It logged diluted earnings per common share of $2.85 compared with a diluted loss per common share of $0.84 for the third quarter of 2011 and diluted earnings per common share of $1.78 for the second quarter of 2012.

The firm had total assets under management of $856 billion at September 30, up from $836 billion at the end of June and up from $821 billion a year ago. In the latest quarter, there were total net outflows of $1 billion; within that mix, there were $3 billion in outflows from alternative assets, $1 billion of outflows from equities, but $5 billion of inflows to fixed income.

BNY Mellon

Assets under management rose 13 per cent year-over-year and 5 per cent sequentially at BNY Mellon, hitting a record $1.4 trillion at September 30, 2012. The rise in assets was in a context of both rising market values and net inflows, with both long- and short-term inflows at $9 billion for the third quarter. Investment management and performance fees were $779 million in Q3, up 7 per cent year-over-year and down 2 per cent sequentially, again boosted by rising markets and new business on a yearly basis.

Wells Fargo

The bank reported a fall in net income at its wealth, brokerage and retirement division, at $338 million, down $5 million from the second quarter of this year. Revenue was $3.0 billion, up 2 per cent from the previous quarter, however; this was helped by $45 million of gains on deferred compensation plan investments (offset in expense, compared with $31 million in losses in second quarter 2012).

Citigroup

The bank reported net income of $468 million in the third quarter of 2012, an 88 per cent slide from the same three months of a year ago due in part to one-off factors, the bank said, while total revenues fell to $13.95 billion, down 33 per cent. Among other causes of the big drop in net income, Citigroup said the third quarter results included a pre-tax loss of $4.7 billion ($2.9 billion after-tax) from the previously announced sale of a 14 per cent interest and other-than-temporary impairment of the carrying value of Citi’s remaining 35 per cent interest in the Morgan Stanley Smith Barney joint venture. Excluding such factors, third quarter revenues were $19.4 billion, up 3 per cent from the prior period a year before, Citigroup said in a statement.

As far as the private banking business is concerned, Citigroup said revenues increased by 8 per cent to $590 million from the prior year period driven primarily by North America lending and deposits.

Northern Trust

The Chicago-headquartered bank reported third quarter net income per common share of $0.73, up from $0.70 in the third quarter of 2011 and consistent with $0.73 in the second quarter of 2012. Net income was $178.8 million in the current quarter, up 5 per cent from $170.4 million in the prior year third quarter, and down slightly from $179.6 million in the prior quarter. Trust, investment and other servicing fees, which represented 62 per cent of revenue, were $601.9 million in the current quarter, up $46.6 million, or 8 per cent, from $555.3 million in the prior year quarter. The bank had $4.761 trillion of assets under custody, a rise of 14 per cent from a year ago.

Morgan Stanley

Morgan Stanley Wealth Management reported $239 million in pre-tax income from continuing operations for the third quarter of the year, down from $356 million for the same period in 2011, representing a year-on-year decline of $117 million. Net revenues for the quarter were $3.3 billion, down slightly from the $3.2 billion logged a year ago. Meanwhile, the pre-tax margin for the quarter was 7 per cent, although excluding $193 million of non-recurring costs associated with the MSWM integration and purchase of an additional 14 per cent stake in the joint venture, the pre-tax margin stood at 13 per cent. The firm said that asset management fee revenues of $1.8 billion increased 3 per cent from the third quarter of 2011, "primarily reflecting an increase in fee-based assets and positive flows."

Total global wealth management client assets were $1.8 trillion at the end of the quarter, while assets in fee-based accounts came to $556 billion - equal to 31 per cent of total client assets. Global fee-based asset flows for the quarter were $7.5 billion, up from $4.1 billion in Q2.