UBS Group - UBS STOCK NEWS

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.

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.