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UBS Group AG (UBS), a global leader in wealth management and investment banking, provides critical financial services across 50+ markets. This page aggregates official announcements, strategic initiatives, and market-moving developments directly from UBS and verified sources.
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UBS reported its 3Q22 results, highlighting a robust client engagement despite challenging market conditions. The firm achieved USD 17bn in net new fee-generating assets in Global Wealth Management (GWM) and USD 18bn in net new money in Asset Management (AM). However, the net profit attributable to shareholders decreased by 24% YoY to USD 1.7bn, with a diluted earnings per share of USD 0.52. The CET1 capital ratio stood at 14.4%. UBS maintained a strong capital position with a buyback of USD 1.0bn in 3Q22, contributing to a solid balance sheet and enhancing shareholder returns.
UBS Private Wealth Management has welcomed a five-person team from the Narragansett Bay Group, managing $1 billion in client assets, to enhance its presence in Providence, RI. Led by experienced advisors Joseph P. Tamburini, Nancy A. Pasquariello, and Nathan J. Hickney, the team aims to strengthen UBS's wealth management offerings for high and ultra-high net worth clients. This strategic move reinforces UBS's commitment to personalized financial advisory services while expanding its operational footprint in the Northeast region.
UBS Wealth Management USA has expanded its team in Irvine, California, with the addition of Sequoia Partners, led by Financial Advisors Howard L. Woo and Luke C. Schell, along with Client Service Associate Cyntia Lopez. This team specializes in advising high net worth individuals on retirement planning, estate strategies, and portfolio management. Both Woo and Schell bring extensive experience from Merrill, enhancing UBS's dedication to providing customized wealth management solutions.
UBS Private Wealth Management celebrates the recognition of Private Wealth Advisors Drew Freides and Michael Kanigher in the 2022 Forbes/SHOOK Research America’s Top Wealth Advisors list, ranking #13 and #89 respectively. They are part of Mainsail Wealth Partners, managing approximately $9 billion in client assets, focusing on comprehensive wealth management solutions. Both advisors have previously been acknowledged in the Forbes/SHOOK Best-in-State Wealth Advisors list, highlighting their expertise and commitment to clients.
UBS Wealth Management USA has welcomed Financial Advisors Jordan Gersch, Doug Brady, Grant Matthews, and Amy Oliver to its Northern California Wealth Management Market. Together, they manage over $1.4 billion in client assets for high net worth individuals and families. Each advisor brings extensive experience from previous roles at Morgan Stanley, focusing on holistic wealth management, financial planning, and tailored strategies. The addition of these professionals aims to enhance UBS's capabilities in this key market.
UBS Wealth Management USA has welcomed a four-person team managing over $215 million in client assets, led by Financial Advisor David Powers, to its New York City branch. The team, which includes Senior Wealth Strategy Associates Josh Steuerman and Martin Schwartz, along with Registered Client Service Associate Kirsten Gabbett, will enhance UBS's wealth management capabilities in the region. David Powers, with over 27 years of experience, focuses on high-net-worth individuals and holds prestigious industry accolades.
UBS Private Wealth Management has welcomed Benjamin Flaim as a Private Wealth Advisor in Boston, responsible for managing over $1 billion in assets for high and ultra-high net worth clients. Flaim joins the Northeast Private Wealth market under the leadership of Julie Fox and reports to Maxwell Bardeen. With two decades of financial experience, including 15 years at Goldman Sachs, Flaim is expected to enhance UBS's capabilities in serving affluent clients. The firm emphasizes providing personalized and customized financial advice to its client base.
UBS Wealth Management USA has welcomed a new team managing
UBS Wealth Management USA has appointed Michael Nazarian as a Financial Advisor and Managing Director at its Sherman Oaks, California branch. His experience serving high net-worth individuals aligns with the firm’s goal of growth in the San Fernando Valley area. With over 20 years in financial services, including 14 years at Wells Fargo, Nazarian specializes in tailored investment and estate planning services. The Greater Los Angeles Market Head, Jim Kottoor, emphasized the importance of recruiting talented advisors to enhance client services.
