UBS Group AG - UBS STOCK NEWS

UBS Private Wealth Management has welcomed three new Managing Directors, Jeff Lewis, Steve May, and John McColskey, to its Atlanta office. Joining them are Jessie Searles and Mary Bennett as Relationship Managers, along with Portfolio Associate John Lindsey. These experienced financial advisors bring a wealth of industry knowledge from their previous roles at J.P. Morgan. UBS aims to leverage their expertise to enhance its client offerings in the ultra-high net worth segment, underlining its commitment to recruitment and retention in the financial advisory space.

UBS Wealth Management USA has appointed Sara Perez Barrett as the new Branch Manager for its Memphis, Tennessee office, succeeding Joseph Heinz, who retires after 13 years. Sara has extensive experience within UBS, joining the firm’s Graduate Training Program in 2013 and moving through various roles, including Municipal Credit Strategist. She aims to enhance UBS’s market presence and empower female investors. Jerry Johnson, South Central Market Head, expressed confidence in Sara’s leadership skills to grow the business in the region.

UBS Private Wealth Management has welcomed Christopher Pitzak as a Managing Director and Financial Advisor in its La Jolla, California office. Pitzak previously worked at Bernstein Private Wealth Management for 13 years, focusing on high-value clients such as business owners and professional athletes. His entrepreneurial background includes founding successful companies like Downplay, Inc. and Dyad Security Corp. Todd Locicero, UBS's West Coast Private Wealth Management Market Head, expressed excitement about Pitzak's unique perspectives and their plans to grow his business within the firm.

UBS AG has announced the Call Settlement Amounts for eight Exchange-Traded Notes (ETNs) including DJCI, FUD, UAG, UBG, UCI, USV, BDCY, and LMLB. The settlement amounts range from $9.7299 to $46.0629, with a settlement date of December 10, 2020. These ETNs are part of UBS’s Medium Term Notes; DJCI, FUD, UAG, UBG, UCI, and USV are Series A, while BDCY and LMLB are Series B. UBS will execute mandatory redemptions as previously announced on November 3, 2020. Investors are advised to consult the relevant prospectus for complete details.

UBS Investment Bank has announced coupon payments for five ETRACS Exchange Traded Notes (ETNs), traded on NYSE Arca. The payments include HDLB, SMHB, PFFL, CEFD, and MVRL, with respective coupon amounts of $0.1501, $0.0812, $0.1460, $0.2420, and $0.1385. The current annualized yields for these ETNs range from 9.56% to 13.20%. These ETNs pay variable monthly coupons linked to cash distributions from underlying index constituents. UBS cautions that investing in ETNs carries risks including potential loss of principal and the impact of UBS's creditworthiness.

UBS announced that Axel P. Lehmann will step down as President of Personal & Corporate Banking and President of UBS Switzerland effective January 31, 2021. Lehmann, who has been with UBS for a long time, will transition out by July 31, 2021. He significantly contributed to UBS's leadership in Switzerland and operational efficiency. Sabine Keller-Busse, current Group COO, will succeed him. Iqbal Khan will move to President EMEA. The changes are aimed at further strengthening UBS’s strategic position in its key Swiss market.

UBS Investment Bank announced the upcoming coupon payments for the ETRACS Alerian MLP Index ETN Series B (AMUB) on various dates. The coupon amount is set at $0.2120 with an annualized current yield of 10.13%. Key dates include valuation on November 16, ex-date on November 27, record date on November 30, and payment on December 8. Investors are advised to review the risks associated with ETNs, as there is no guarantee for coupon payments.