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UBS Group AG (symbol: UBS) is a multinational investment bank and financial services company based in Switzerland, with co-headquarters in Zürich and Basel. As the largest Swiss banking institution and the world's largest private bank, UBS maintains a robust presence in major financial centers globally.
The company excels in global wealth management, focusing on high and ultra-high-net-worth individuals. Its Swiss operations include traditional retail and commercial banking. UBS also leverages its investment bank and asset management arms to support its wealth management services, providing comprehensive solutions to third-party clients.
UBS's recent achievements include substantial investments in innovative technology ventures. Notably, UBS Next, the group's venture and innovation unit, recently invested in Synthesized Ltd, a data generation and provisioning platform. This partnership aims to enhance data management and security using advanced machine learning and automation technologies.
UBS's diversified offerings and strategic partnerships ensure cutting-edge services, catering to a broad clientele ranging from private individuals to large corporate entities. As of the fourth quarter of 2023, UBS manages an impressive USD 5.7 trillion in invested assets, further solidifying its status as a global financial powerhouse.
UBS shares are publicly traded on the SIX Swiss Exchange and the New York Stock Exchange (NYSE), reflecting the company's significant role in the international financial market.
UBS Wealth Management USA announced that Financial Advisor David Schachter has been named to the Forbes/SHOOK Research Best-in-State Wealth Advisors list for 2022. Schachter leads the Endurance Artist Management team, providing investment guidance to top figures in the entertainment industry. His recognition reflects his commitment to clients. Additionally, he earned the Athletes and Entertainers Consultant designation, indicating his expertise in handling the unique financial needs of clients in these sectors. The list features over 6,500 advisors managing more than $10 trillion in client assets.
UBS reported strong financial results for 1Q22, with a profit before tax of USD 2,729 million, up 19% year-over-year. The net profit attributable to shareholders reached USD 2,136 million, a 17% increase. The firm saw significant client inflows, including USD 19 billion in Global Wealth Management. Despite challenges from geopolitical tensions and inflation, UBS maintained a robust CET1 capital ratio of 14.3%. Share repurchases of USD 1.7 billion were executed, contributing to a total of USD 5 billion planned for 2022.
UBS Private Wealth Management has announced that 23 advisors from its Northeast market have been recognized in the Forbes/SHOOK Research Best-In-State Wealth Advisors list for 2022. This recognition reflects their dedication to high-quality financial services. The list comprises over 6,500 advisors managing $10 trillion in assets, evaluated on various criteria including interviews and compliance records. This achievement underscores UBS's strong positioning in wealth management and commitment to client service.
UBS's Multicultural Investors Strategic Client Segment has launched the 'Invest to Advance' research report, examining the wealth journeys of over 5,000 U.S. investors with at least $1 million in assets. It highlights that 61% achieved wealth through investment portfolios, with significant contributions from workplace compensation, inheritances, and real estate. The report emphasizes the unique financial paths of Black, Asian, and Hispanic investors, noting challenges in stock market participation, and advocating for tailored financial strategies to meet diverse needs.
On March 31, 2022, UBS, Envestnet, and iCapital launched the Alternatives Exchange, enhancing access to over 35 alternative investment funds for Envestnet's clients. This initiative responds to rising demand from high-net-worth investors, projected to grow private equity investments to $1.2 trillion by 2025. The platform aims to streamline the investment process through automated services and centralized document management. Additionally, the AltsEdge™ Certificate Program offers educational resources for advisors to better navigate alternative investments.
UBS Wealth Management USA has announced the relocation of its branch offices in Greenwich and Stamford, Connecticut. This strategic move recognizes the region's economic growth and aims to better serve High Net Worth clients. The new Greenwich office spans 15,000 square feet and features modern amenities, while the Stamford office occupies 20,000 square feet with specialized services for Ultra-High Net Worth clients. Both locations emphasize collaboration and are designed for LEED Certification, underlining UBS's commitment to a sustainable and client-focused future.
UBS has introduced its new Virtual Worker Framework, enhancing its hybrid work model to allow eligible US employees to work 100% remotely.
This initiative aims to attract diverse talent, improve employee retention, and optimize client service. A survey revealed that 86% of UBS employees prefer greater flexibility in their work arrangements. The phased implementation starts with Global Wealth Management roles and is designed to adapt to employees' varying life stages.
UBS Private Wealth Management has announced that eleven of its Private Wealth Advisors from the Northeast region have been recognized on Barron’s Top 1,200 Financial Advisors list for 2022. This acknowledgment highlights their dedication to providing exceptional client service. The advisors are located across various cities including Boston, Charlotte, Newport, Philadelphia, Stamford, and Washington, DC. The ranking criteria include factors such as revenue, assets under management, regulatory record, and overall quality of practice.
UBS Asset Management is set to sell its joint venture, Mitsubishi Corp.-UBS Realty Inc. (MC-UBSR), to KKR & Co. Inc., concluding a 20-year partnership with Mitsubishi Corporation. The transaction, expected to close by April 2022, will yield a gain of approximately USD 0.9 billion and a CET1 capital increase for UBS. Despite this sale, UBS's asset management and investment banking operations in Japan will remain unaffected. MC-UBSR, one of Japan's largest real estate asset management firms, manages around USD 15 billion in assets.
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