UBS scraps $1.4b deal to buy US digital wealth management firm Wealthfront

UBS scraps $1.4b deal to buy US digital wealth management firm Wealthfront

FILE PHOTO: The logo of Swiss bank UBS at its Zurich headquarters in Switzerland, July 27, 2015. REUTERS/Arnd Wiegmann

Swiss bank UBS and Wealthfront said on Friday they have mutually agreed to terminate their $1.4-billion deal, as part of which the automated wealth management provider was to be acquired by UBS Americas Inc.