UBS Group Stock Price, News & Analysis

UBS and Hello Alice have increased the number of grants to 40 female founders of color as part of Project Entrepreneur, responding to 12,000 applicants. Each grantee receives $25,000, totaling $1 million in funding to support high-growth companies. The initiative seeks to bridge the equity gap that these entrepreneurs face in accessing capital. Recipients will also benefit from coaching and resources, enhancing their chances for success. This effort underscores the pressing need for equitable funding access for women of color in business.

UBS Wealth Management USA has welcomed Diane Johnston, a Financial Advisor with over 20 years of experience, to its Jericho, New York branch. Her expertise focuses on business owners, entrepreneurs, ERISA plans, endowments, and foundations. Amanda Librizzi, the branch manager, expressed enthusiasm regarding Diane's addition, highlighting her dedication to clients and potential to enhance client services in Long Island. Johnston is also engaged in community support, serving as the President of the Long Island Chapter for the Exit Planning Exchange and working against human trafficking with UNITAS.

UBS Wealth Management USA has welcomed Financial Advisor and Portfolio Manager, Brett C. Moore, to its team in Beverly Hills, California. With over 22 years of industry experience, Brett previously served as a Portfolio Management Director at Morgan Stanley. His expertise spans portfolio management, private equity, and private credit, with a focus on wealth planning and risk mitigation. Holding degrees from Tulane University and a Personal Financial Planning Certificate from the University of California, Brett is committed to client success and community engagement.

UBS Wealth Management USA has welcomed Financial Advisor Debbie Chen to its Pasadena, California office. With over 20 years of experience, Chen specializes in serving ultra-high net worth clients in the US and Asia, particularly in China, Taiwan, and Hong Kong. Prior to joining UBS, she spent 11 years at HSBC, providing comprehensive banking and investment services. Chen's expertise will enhance UBS's capabilities in wealth management, aligning with their goal of deepening their international presence in the LA market.

UBS (NYSE: UBS) has been found guilty by the French Court of Appeal for unlawful solicitation and aggravated laundering of proceeds from tax fraud between 2004 and 2012. A fine of EUR 3.75 million was imposed, significantly lower than the initial EUR 3.7 billion. Additionally, a confiscation of EUR 1 billion and civil damages of EUR 800 million to the French state were ordered. UBS (France) SA faced a fine of EUR 1.875 million. UBS plans to review the ruling and may appeal.

UBS Wealth Management USA has appointed Undra Johnson as the new Branch Manager for its offices in Canonsburg and Erie, Pennsylvania. Johnson brings nearly 30 years of experience in wealth management, having previously served as a Financial Advisor and Premier Manager at Wells Fargo Advisors. His dual experience as a Branch Manager and Financial Advisor positions him to understand the needs of clients and employees effectively. Johnson, a former NFL player, graduated from West Virginia University and has a strong commitment to wealth management.

Sarah Youngwood will succeed Kirt Gardner as Group Chief Financial Officer of UBS Group (NYSE:UBS) starting in May. Youngwood, currently CFO at JPMorgan Chase’s Consumer & Community Banking, brings extensive experience from her roles in finance at JPMorgan and holds degrees from ESCP Europe Business School and Stanford Graduate School of Business. Gardner, CFO since January 2016, will assist in the transition before retiring to pursue new opportunities. CEO Ralph Hamers expressed gratitude to Gardner and confidence in Youngwood's leadership.

Colm Kelleher has been nominated to succeed Axel A. Weber as Chairman of the UBS Group AG Board of Directors during the Annual General Meeting scheduled for 6 April 2022. Lukas Gähwiler will also be nominated as Vice Chairman. Kelleher, a former President of Morgan Stanley, brings over 30 years of banking experience. Gähwiler, the current Chairman of UBS Switzerland AG, has significant industry expertise. Both nominations aim to enhance UBS's leadership following Weber’s tenure, which focused on stabilizing and refocusing the firm.

UBS and Luminary have launched the second annual UBS x Luminary Fellowship Program, supporting women of color-owned businesses affected by the pandemic. This year, 75 fellowships will be awarded, an increase from 55 last year. The program aims to provide essential resources and mentorship to help these businesses thrive. Key statistics highlight that 58% of fellows from the previous cohort developed new client relationships, affirming the program's impact. Applications for the 2022 cohort are open until December 15, 2021.