UBS Group Stock Price, News & Analysis

UBS Wealth Management USA has announced that David Schachter, a Financial Advisor in the firm's Los Angeles Market, has been named to the Forbes Best-in-State Wealth Advisors list for 2024. Schachter, recognized for his dedication to clients in the entertainment industry, provides investment advice to top artists, songwriters, producers, directors, digital talent, and executives in Hollywood. Schachter holds the Athletes and Entertainers Consultant designation at UBS, meeting specific criteria for experience and commitment. The Forbes rating, determined by Shook Research, is based on data from a 12-month period ending June of the prior year.

UBS has completed the merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG. As a result, Credit Suisse (Schweiz) AG has been deregistered and UBS Switzerland AG has taken over all its rights and obligations. This merger is a significant step in integrating the two entities, facilitating the migration of Credit Suisse clients and operations to the UBS platform. Clients will continue to use existing Credit Suisse tools for an interim period. The migration of client transactions is set for 2025 and will be gradual. André Helfenstein, CEO of Credit Suisse (Schweiz) AG, will leave the bank post-merger. UBS aims to provide comprehensive services and support to its clients during this transition.

UBS Private Wealth Management's The Matthews Group has earned prestigious spots in Barron's 2024 Top 250 Private Wealth Management Teams and Forbes 2024 Best-in-State Wealth Management Teams. Additionally, the team was recognized in the Forbes 2023 America’s Top Wealth Management Teams - Private Wealth list. The Matthews Group, led by Michael Matthews and a 19-member team, manages over $2.3 billion in client investable assets, providing tailored financial advice to ultra-high net worth clients. Their expertise, combined with UBS’s extensive resources, aims to enhance clients' financial well-being. Rankings are based on factors such as team size, regulatory records, credentials, and available resources.

UBS Wealth Management USA has appointed Ryann Kilgore as Market Executive for the Greater New England Wealth Management Market. Ryann, who brings nearly 20 years of wealth management experience, will be based in Hartford, Connecticut. Her role involves overseeing financial advisors and market leadership in New York State, Coastal New England, Northern New England, and Western Pennsylvania. She will also be responsible for business expansion, recruiting new advisors, and coaching team members to maximize performance.

Ryann joined UBS in 2021 and previously served as Market Director for Coastal New England Offices. Her career began in 2005 at JPMorgan, where she held various leadership roles over 17 years. Ryann holds a Master's Degree in Human Resources and Organizational Development and an MBA from Eastern Michigan University. She is passionate about advisor and client service, and her experience is expected to drive growth in the New England Market.

UBS AG announced the Payment at Maturity for the UBS AG FI Enhanced Large Cap Growth ETNs due June 19, 2024, with an expected adjusted maturity date of June 20, 2024. The ETNs, trading under ticker FBGX, will have a Payment at Maturity of $939.5829. The last trading day is June 18, 2024, with a maximum cap of 245,000 ETNs outstanding. UBS Securities may continue trading and making markets for the ETNs, but suspension of new issuances could affect their market value and liquidity. Investors purchasing ETNs above the indicative value may incur losses if held until maturity.

UBS Wealth Management USA has appointed Cy Aleman as the Market Director for Oregon, part of the Pacific Northwest Market. Based in Portland, Aleman will lead financial advisors and support staff across several Oregon offices. His duties include expanding UBS's business in Oregon, recruiting new advisors, and enhancing team performance. Ryan Rozniakowski, Market Executive for the Pacific Northwest Market, praised Aleman for his dedication and impactful leadership. Aleman joins UBS from Amundi US, where he served as Divisional Sales Manager for the Western Division. He holds a bachelor's degree in political science from the University of Oregon.

UBS has announced the addition of The Adams Group, led by financial advisor Mariam Adams, to its team. The Adams Group manages over $170 million in client assets and includes Client Service Associate Albert Ortiz. Known for serving clients from diverse backgrounds, with a focus on LGBTQ+ individuals and their families, the team will operate from New York City within UBS’s Philadelphia D.C. Wealth Management Market. Mariam Adams, who brings nearly a decade of wealth management experience from Merrill Lynch, specializes in financial planning, investment management, inheritances, estate planning, and charitable giving. Her extensive background includes board positions with several LGBTQ+ organizations. Market Executive Julie Fox expressed confidence that UBS’s platform will enhance the team’s ability to serve clients. This move follows UBS’s recent investments in market expansion, including new office spaces and hires.

UBS Group AG (NYSE:UBS) has successfully completed the merger of UBS AG and Credit Suisse AG within the expected timeline, with global regulatory support. Credit Suisse AG has been deregistered and no longer exists as a separate entity. UBS AG inherits all of Credit Suisse AG's rights and obligations, including outstanding debt instruments. Clients of Credit Suisse AG will migrate to UBS platforms over time, although they will temporarily use existing Credit Suisse tools.

UBS CEO Sergio P. Ermotti highlights the milestone as important for unlocking cost, capital, funding, and tax benefits from the second half of 2024. A transition to a single US holding company is planned for June 2024, with further mergers expected by the third quarter of 2024, pending regulatory approvals.

UBS has announced significant changes to its Group Executive Board (GEB) as part of its ongoing integration with Credit Suisse. Key appointments include Iqbal Khan as President of UBS Asia-Pacific and Co-President of Global Wealth Management (GWM), and Rob Karofsky as President of UBS Americas and Co-President of GWM. George Athanasopoulos and Marco Valla will become Co-Presidents of the Investment Bank. Damian Vogel will replace Christian Bluhm as Group Chief Risk Officer. These changes are effective 1 July 2024, pending regulatory approval. The merger of UBS AG and Credit Suisse AG is scheduled for 31 May 2024.