everyone. morning Good
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the Additionally, revenue recognition services resulted outside new wealth increase fees million expense. and $X both standard in in an adoption management of the
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was XX% a increased one Assets on to basis. of compared year slightly sequential and under up custody $X.X trillion, ago,
exchange market new favorable movements in For the business, foreign favorable were drivers. the rates year-over-year impacts, and comparison,
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on five. of Let's our look at the trust and page investment components fees
fees the and Luxembourg basis. UBS' units million to totaled year-over-year, and a the business and Switzerland. Corporate XX% quarter, The Institutional X% sequential fees in acquisition in our up Management's in on of Asset relating $XXX up million included fund For Services quarter first $XX.X administration
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focused strategy. eliminating employees leveraging realigning and by redundancy have strategically on We location our
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cultivate to in quarters. discuss of expect pipeline We continue healthy we a future opportunities that to
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ratios of strong and bank our tier with our X.X% of this the was Northern equity page ratio advanced The Turning to remain and the which respect year. coverage Northern the effective X.X%; ratio is the approach, of at became at start under XX.X% XX, both to standardized under leverage the X% common capital approach. exceed applicable corporation X ratio, supplementary minimum XXXX. was Trust at requirement, the at to liquidity that start the above the of the which became effective Trust With XX.X% requirement XXX%
quarter, Northern Basel regulators common ratios year. X.X by III the per share over of the progresses rules. regulatory III XX% the the results be could additional and there we prior the the could closing, change a of growing in our As stock earnings In delivered cost Northern million million. our strong financial Trust in implementation which shares Basel $XXX final In phased at the quarter, enhancements of from first guidance on repurchased of implementation, to the models Trust further calculation fully through rule, final under
assets custody year. management XX% versus under the prior and and XX% were under administration respectively and up Our assets
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segments our were across profitability was the so growth too While strong, each of business.
from improving grew pretax the to versus expense-to-fee pretax the driving XX% XX% prior management and year wealth business XX% to margin Our income by the ratio XX%. down while
from ratio year-over-year drove similarly pretax down the performance XX% pretax XX%, strong prior and C&IS with growing margin the and business driving to XX% improving expense-to-fee year, to XXX. the versus income Our
confident continue ability competitive business. markets our within We positioning our our in and are growth profitably growing to
annual sufficient Before Time need Thank Trust's which us A.M. our earnings answer quarter I Please event open get Northern to have your to participating conclude, today's than we will to accept time we the quarter you questions. bit would other end period Central a as the to and is practice. meeting, our call, the call in begins allow earnings please to question-and-answer for morning. quarters XX:XX in earlier this first apologies off be to conference than I at of for customary all Paula, earlier for close Mark our happy today. call first again normal line. in our
