Wealth managers rein in leverage as clients battle markets downturn-sources
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HONG KONG/ZURICH (Reuters) - Global wealth managers are cutting some credit they extend to rich clients as a worldwide markets rout triggers margin calls, even as others see opportunities to help entrepreneurs plug liquidity gaps, people with knowledge of the matter said.Private banks including Credit Suisse Group AG , Julius Baer Gruppe AG , and UBS Group AG use lending as a key part of their business to grow their assets and lock in clients.Wealth managers profit from the interest they..