Welcome to our dedicated page for UBS Group news (Ticker: UBS), a resource for investors and traders seeking the latest updates and insights on UBS Group stock.
UBS Group AG reports news on a global financial institution built around wealth management, Swiss universal banking, asset management and focused investment banking capabilities. Recurring updates include financial results, client activity, capital ratios, dividend and share-repurchase actions, and regulatory capital developments affecting the group’s balance sheet and capital planning.
Company news also covers UBS Wealth Management hiring, market leadership appointments, advisor-team recognition and regional office activity in the United States. Other recurring themes include governance matters, integration work following the Credit Suisse acquisition, and disclosures tied to UBS Group shares listed on the SIX Swiss Exchange and the New York Stock Exchange.
UBS Private Wealth Management announced that Warren Coughlin, a Private Wealth Advisor in the Los Angeles office, has been named to the Forbes Top Next-Gen Best-in-State Wealth Advisor list for 2024. This marks Coughlin's third inclusion on the list. Coughlin leads Presidio Partners, a Private Wealth team specializing in serving tech founders and entrepreneurs, alongside Charles Korasick and Robert Gach.
The team has an impressive track record, having worked with over 21 "unicorn" co-founders, advised more than 33 clients through liquidity events, and served over 40 late-stage co-founders with at least $50 million in private stock positions. The Forbes/SHOOK Top Next-Gen Advisors Best-In-State list features 1,621 top professionals managing nearly $2.8 trillion in assets collectively.
UBS Wealth Management USA announced that five financial advisors in its Pacific Desert Market have been named to the Forbes Top Next-Gen Wealth Advisors Best-in-State list for 2024. The recognized advisors are:
- Stockton Schultz (Phoenix, AZ) - also ranked 34th nationally
- Aaron Rottenstein (Tucson, AZ)
- Blake Foster (Newport Beach, CA)
- Earl B. (Bryan) Thompson III (San Diego, CA)
- Kyle Yoneshige (Honolulu, HI)
These advisors have extensive experience in wealth management, financial planning, and investment consulting. They serve diverse clientele, including high-net-worth individuals, families, business owners, and institutions. Many have received multiple recognitions from Forbes and other industry accolades throughout their careers.
UBS Wealth Management USA has announced the addition of Financial Advisor Jared Berault to their Manchester, New Hampshire office. Berault, who manages over $400 million in client assets, brings more than 20 years of experience in the financial services industry. He specializes in comprehensive wealth management, including retirement planning, portfolio construction, and tax minimization.
Joining Berault is Client Associate Fred Kline, who entered the financial services industry in 2020. Patrick Henning, Manchester Market Director at UBS, expressed enthusiasm about the new team, highlighting their experience and potential to add value to clients. Berault's approach focuses on understanding clients' needs and educating them about their investment strategies, aiming to become a lifelong resource for wealth management.
UBS has announced the addition of a five-person team, Wingman Capitol Group, to its Bethesda, MD office. The team, led by Financial Advisors Andy Murphy, Gene Suk, and Terence Hardy, manages $650 million in client assets. They join UBS's Philadelphia D.C. Wealth Management Market, led by Market Executive Julie Fox, and will report to Market Director Jake Shine.
The team brings extensive experience in serving high and ultra-high net worth clients. Andy Murphy has 20 years of industry experience and a background in the U.S. Navy. Gene Suk, with nearly 30 years at Morgan Stanley, holds an MBA and the CIMA® designation. Terence Hardy, a Certified Financial Planner (CFP®), has a decade of experience at Morgan Stanley. The team also includes Casey Coffman and Ryan Vogel in supporting roles.
UBS Wealth Management USA announced that Daniel P. Green, a Financial Advisor in their Knoxville, Tennessee office, has been named to the Forbes Top Next-Gen Wealth Advisors Best-in-State list for 2024. Green ranked #1 in Tennessee on this year's list. He has been with UBS since 2013 and leads The Green Group, which serves families of entrepreneurs, executives, and business leaders with investment, retirement, tax, and estate planning advice.
Green holds a bachelor's degree in finance from the University of Tennessee and a Certified Exit Planning Advisor (CEPA®) designation. This is his fifth consecutive year on the Next-Gen Advisors Best-in-State list. The 2024 Forbes/SHOOK list features over 1,600 professionals managing nearly $2.8 trillion in assets, all born in 1985 or later with at least four years of experience.
UBS announced that four advisors in its Philadelphia D.C. Wealth Management Market have been named to the 2024 Forbes Top Next-Gen Wealth Advisors Best-in-State List. The recognized advisors are:
- Charlie Anderson (Bethesda, MD) - Specializes in financial planning, investment management, and estate planning
- John Uehling (Newtown, PA) - Provides wealth management services for families, high net worth individuals, and business owners
- Nick Francia (Washington, D.C.) - Advises business owners on tax-efficient exit strategies, focusing on Employee Stock Ownership Plan transactions
- Kayvon Sarmadi (Washington, D.C.) - Advises business owners on wealth and investment management, complex business transactions, and managing alternative investments
Both Francia and Sarmadi were also named to the 2024 Forbes America's Top Next-Gen Wealth Advisors list. The Forbes/SHOOK Top Next-Gen Advisors Best-in-State list includes 1,621 professionals managing $2.8 trillion in assets.
UBS AG (NYSE:UBS) (SWX:UBSN) has published its second-quarter 2024 financial report and Pillar 3 report. This follows the earlier release of UBS Group AG's consolidated second quarter results on August 14, 2024. The detailed reports are now available for download on the UBS website. This announcement is made in accordance with Article 53 of the SIX Exchange Regulation Listing Rules, highlighting the company's commitment to regulatory compliance and transparency in financial reporting.
UBS Investment Bank has announced quarterly coupon payments for the ETRACS Alerian MLP Index ETN Series B (NYSE Arca: AMUB). The ETN, traded on the NYSE Arca, will distribute a coupon amount of $0.2794 per note. Key dates for this distribution include:
- Coupon Valuation Date: August 15, 2024
- Ex-Date and Record Date: August 28, 2024
- Payment Date: September 6, 2024
The current yield, annualized based on this coupon payment, is 6.30%. However, UBS emphasizes that this yield is not indicative of future coupon payments, and there is no guarantee of any coupon or distribution amount under the ETN.
UBS reported a net profit of USD 1.1bn for 2Q24, with a profit before tax (PBT) of USD 1.5bn and an underlying PBT of USD 2.1bn. The first half of 2024 saw a net profit of USD 2.9bn and net new assets of USD 27bn in Global Wealth Management. The company achieved USD 0.9bn in gross cost savings, reducing non-core and legacy risk-weighted assets by 42% year-over-year. UBS maintained a strong balance sheet with a CET1 capital ratio of 14.9% and commenced share repurchases worth USD 467m as of 9 August 2024. UBS was named "World's Best Bank" and "Switzerland’s Best Bank" at the Euromoney Awards for Excellence 2024. Despite economic uncertainties, UBS expects continued momentum in client and transactional activity into the third quarter, along with integration-related expenses and moderate net interest income headwinds.
UBS Investment Bank has announced coupon payments for 8 ETRACS Exchange Traded Notes (ETNs). Five ETNs traded on NYSE Arca will receive payments on August 20, 2024, while three ETNs traded on NASDAQ are expected to receive payments on August 27, 2024. The ETNs are linked to various indices, including high dividend, small cap, preferred stock, closed-end fund, mortgage REITs, gold, silver, and crude oil.
Notable coupon amounts include $0.1177 for HDLB (9.78% annualized yield), $0.0377 for SMHB (16.69% annualized yield), and $0.2116 for CEFD (14.12% annualized yield). The NASDAQ-traded ETNs have expected coupon amounts of $2.0509 for GLDI (12.31% expected yield), $1.5541 for SLVO (22.59% expected yield), and $0.4186 for USOI (10.65% expected yield).