(Bloomberg) -- UBS AG, Switzerland’s largest bank, expects to boost client assets in the U.K. this year even as Swiss competitors try to break into London’s $1.2 trillion private wealth market to help counter withdrawals at home.

UBS forecasts an increase in assets of 4 billion pounds ($6.6 billion) this year, including net new money inflows, Jamie Broderick, head of UBS’s U.K. private bank, said in a telephone interview. The world’s largest wealth manager increased assets at its British unit by 15% to 31 billion pounds in the nine months through September, he said.

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