UBS Group Stock Price, News & Analysis

UBS has appointed Sergio P. Ermotti as Chief Executive Officer effective 5 April 2023, succeeding Ralph Hamers, who will remain as an advisor during the transition. This leadership change follows UBS's planned acquisition of Credit Suisse, necessitating a shift in priorities. Ermotti, a former CEO with a successful track record in enhancing financial strength and resilience, is expected to lead the integration of Credit Suisse. Hamers, under whose leadership UBS achieved record results, expressed gratitude and commitment to support Ermotti during this critical period.

UBS Wealth Management USA has announced the addition of Financial Advisors Stephen and John Hagy to its Westlake Village office. The Hagy Group, focusing on high-net-worth clients, manages nearly $180 million in client assets. Market Director Louis Skertich expressed enthusiasm about their experience enhancing UBS's offerings in this key market. Stephen Hagy joins with over 30 years in finance, previously at Morgan Stanley, while John Hagy, with over five years of experience, specializes in wealth management for professional athletes and real estate agents.

UBS Group AG (NYSE:UBS) has announced an invitation for holders of its EUR 1.5bn and EUR 1.25bn fixed-rate notes to tender for cash in light of recent corporate actions. The Notes, issued on March 17, 2023, include 4.625% notes due March 2028 and 4.750% notes due March 2032. UBS assures compliance with obligations related to the Notes and is offering to repurchase them at 99.932% and 99.518% of their principal amounts, respectively. The Offers commence on March 22, 2023, with a final expiration deadline on April 4, 2023. More details can be found in the official notice on the SIX Swiss Exchange.

UBS plans to acquire Credit Suisse, aiming to create a leading global wealth manager with over USD 5 trillion in invested assets. This strategic move enhances UBS's position in Switzerland and expands its market presence in the Americas and Asia-Pacific. The all-share deal provides Credit Suisse shareholders with CHF 0.76 per share, totaling CHF 3 billion. UBS anticipates annual cost reductions exceeding USD 8 billion by 2027 and claims the transaction is EPS accretive by 2027. Regulatory bodies, including the Swiss National Bank, support this acquisition, which does not require shareholder approval.

UBS Wealth Management USA has recognized Financial Advisor Courtney McDonald Liddy for her remarkable achievements, including being named to Forbes' Top Women Wealth Advisors and Barron’s Top 1200 Financial Advisors lists for 2023. This marks Liddy's fifth and sixth appearances on these prestigious lists since 2019. She ranked #8 in California and #44 overall among top female advisors, serving high-net-worth clients with their diverse financial needs. The Forbes/SHOOK list featured 1,697 women managing nearly $2.3 trillion in assets, showcasing Liddy's significant impact in the financial advisory sector.

UBS has partnered with Athletes Soul to offer financial education and resources for retiring athletes. This initiative aims to help athletes make informed financial decisions as they transition from sports. A series of interviews with former athletes will kick off the program at the BNP Paribas Open Tennis Tournament in Indian Wells, CA. Barry Porter from UBS has achieved the Athletes and Entertainers Consultant designation, which signifies his expertise in advising clients in the sports and entertainment sectors. This collaboration seeks to address the financial challenges faced by retiring athletes.

UBS Private Wealth Management has appointed Brandon Marty as a Senior Portfolio Manager in its Stamford, CT office. With 16 years of experience in investment strategies, he will focus on developing tax-efficient plans for high net worth clients. Chris Dimuria, Head of the New York market, expressed enthusiasm about Brandon's experience and client dedication, predicting it will enhance their offerings. Prior to UBS, Brandon worked at City National Rochdale and held roles at PWC and Credit Suisse. He holds a Bachelor’s from the University of Massachusetts and an MBA from Fordham University.

UBS Wealth Management USA welcomes Thomas Sheehan, a financial advisor with over 22 years of experience and more than $305 million in client assets, to their Greater New England Market in Providence, Rhode Island. Alongside Registered Client Service Associate Katie Ranney, Sheehan aims to enhance client service and expand UBS's offerings in the region. Ryann Kilgore, the Coastal New England Market Director, emphasized Sheehan's dedication to client goals and community involvement. Sheehan's expertise includes family dynamics and comprehensive wealth management strategies, positioning UBS favorably for growth in Rhode Island.

UBS Wealth Management USA announced that five of its financial advisor teams in Arizona have been recognized in the Forbes Best-In-State Wealth Management Teams list for 2023. Among the teams, The Schultz Group is ranked #2, while The Biltmore Financial Group and The Choy Group hold positions #15 and #38, respectively, in Phoenix. In Tucson, Rottenstein Wealth Management ranks #39 and the Mitchell/Abdy Team ranks #44. This list features over 2,800 teams managing approximately $4 trillion in client assets, determined by SHOOK Research using various evaluation criteria.