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 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.
UBS Wealth Management USA announces that Kalyn Maher Walker has made the Working Mother/SHOOK Research Top Wealth Advisor Moms list for 2021, marking her third consecutive year on this prestigious list. Kalyn, part of the Maher-Walker and Zeigler team in location value="LU/us.ca.sandgo"San Diego, has over a decade of experience in the financial services sector. Her dedication to understanding clients' needs in education, philanthropy, and family planning has been recognized by industry leaders, further enhancing UBS's reputation as a leading wealth management firm.
UBS reported strong financial results for 3Q21, with a net profit of USD 2.3bn, up 9% year-on-year. The return on CET1 capital was 20.8%, exceeding guidance, while the cost/income ratio improved to 68.7%. Global Wealth Management saw substantial inflows, totaling USD 80bn year-to-date. The firm also intends to repurchase up to USD 0.6bn in shares in 4Q21. Despite uncertainties in the market, UBS is focused on driving growth and efficiency.
UBS Private Wealth Management has welcomed Financial Advisors Matthew T. Leone, Kevin M. Heck, and Emily Barbe to its New York City team, alongside Client Service Associates Anthony D’Anton, Rosalina Perez-Palombini, and Annika Kelshiker.
The Leone-Heck Group, co-founded by Leone and Heck, boasts nearly 40 years of collective experience and manages $890 million in client assets. The firm aims to recruit leading financial advisors, enhancing its Private Wealth platform for high-net-worth clients.
UBS Wealth Management USA announced that Financial Advisor Jeremy Keller has been recognized in the Forbes/SHOOK Research Top Next-Gen Wealth Advisors list for 2021. Keller, based in Las Vegas, specializes in advising high-net-worth clients on various financial strategies. He has been with UBS since 2009, and this accolade highlights his leadership in the industry. The 2021 list includes 500 advisors managing over $1 trillion in assets. For more details, visit Forbes.