UBS Group (UBS) Stock News

UBS announces changes in its executive team in light of the acquisition of Credit Suisse. Christian Bluhm will remain as Group Chief Risk Officer, delaying his transfer of responsibilities to Damian Vogel, who has been appointed as Group Risk Control Head of Integration. This newly formed role will focus on leading risk control integration activities and optimizing the joint Group Risk Control function of UBS and Credit Suisse. CEO Sergio P. Ermotti emphasized the importance of having both leaders actively engaged to ensure UBS is well-prepared for future challenges. The announcement also includes a cautionary note regarding forward-looking statements and associated risks that may impact UBS's future performance.

UBS Private Wealth Management announced the recognition of Drew Freides and Michael Kanigher as top wealth advisors in 2023. Drew ranked #1 and Michael #7 on the Forbes Best-in-State Wealth Advisors list for Los Angeles. They also made the national Forbes America’s Top Wealth Advisors list, with Drew at #9 and Michael at #80. This marks the eighth consecutive year for Drew and Michael on the national list and the sixth year on the state list. Together, they manage over $7 billion in client assets through Mainsail Wealth Partners, serving ultra-high net worth clients with a comprehensive approach to wealth management, including estate planning and philanthropic strategies.

Lauren Gorsche, UBS Los Angeles Market Executive, praised their dedication to clients, emphasizing their impact within the private wealth space.

UBS Private Wealth Management announced that Drew Freides and Michael Kanigher have been featured in the Barron’s Top 1200 Advisors list for 2023, ranking #13 and #28 in California respectively. This marks their 10th consecutive year of recognition. The duo leads Mainsail Wealth Partners, a prominent advisor team within UBS, advising senior executives and families on comprehensive wealth management solutions, including tax optimization and estate planning. The Barron’s list evaluates around 6,000 advisors based on qualitative and quantitative factors such as assets under management and revenue. For more details, visit Barron’s.

UBS Wealth Management USA has announced that 17 financial advisor teams from its Pacific Desert market, which includes Southern California and Hawaii, have made it to the Forbes/SHOOK Research Best-In-State Wealth Advisor Teams list for 2023. The list recognizes outstanding teams who offer comprehensive wealth management services. Notably, the teams collectively manage about $4 trillion in client assets. Newport Beach, CA houses four of the recognized teams, with the NewCoast Wealth Advisors team ranked first in New Mexico. The recognition highlights the firm's commitment to personalized client service and financial goal achievement.

Broadridge Financial Solutions (NYSE:BR) announced a significant milestone with UBS (NYSE:UBS) and a global Asian bank executing the first cross-border intraday repo transaction on its blockchain-enabled Distributed Ledger Repo (DLR) platform. This development enhances intraday liquidity management and reduces operational risk, marking a pivotal stage for the platform's expansion. Broadridge aims to transform the global repo market, capturing approximately $1 trillion in monthly volume. The DLR platform increases settlement speed and collateral mobility, offering increased efficiency for market participants.

UBS Investment Bank has launched a new ETN, the ETRACS Whitney US Critical Technologies ETN, with the ticker WUCT, linked to the Solactive Whitney U.S. Critical Technologies CNTR Index. This index tracks large- and mid-cap companies involved in critical technology sectors with a minimum geostrategic risk rating. The index is market-capitalization weighted and was first publicly disseminated on January 3, 2023. The ETN is traded on NYSE Arca and carries risks including potential loss of principal. Investors are encouraged to review the associated prospectus for details on risks and investments.

UBS announced that twelve advisors from its Philadelphia D.C. wealth management market have been recognized on the 2023 Barron’s Top 1200 Financial Advisors list. Julie Fox, Market Executive at UBS Private Wealth Management, emphasized the dedication of these advisors to delivering high-quality financial advice. Additionally, the Catanella Institutional Consulting Team, based in Philadelphia, was named a NAPA Top Defined Contribution Advisor Team for 2022. The rankings are determined by various metrics, including firm revenue and assets under management. For further details, visit Barron's Top Financial Advisors.

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.