This Swiss bank is vying for primacy in global wealth management.
The Zurich-based bank has signaled that the U.S. will be a major plank of its growth strategy.
The Zurich-based bank posted a net loss of $785 million for the three months to September.
Private credit has become an increasingly sought-after funding tool for buyout firms.
UBS Group has decided to exit $5 billion in assets it manages for rich customers.
Investors remain optimistic about UBS's capacity to successfully integrate its former rival.
UBS executives have said they want to cut back riskier trading operations.
Shares of UBS fell as much as 5.4% after the lender reported the weakest quarterly profit in more than three years.
The pay award caps an uneven performance for Switzerland's largest bank.
It caps a grim year in which the bank was forced to raise $4 billion after a string of losses.
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