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 (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 Daniel P. Green, a Financial Advisor in their Knoxville, Tennessee office, has been named to the Forbes Top Next-Gen Wealth Advisors Best-in-State list for 2024. Green ranked #1 in Tennessee on this year's list. He has been with UBS since 2013 and leads The Green Group, which serves families of entrepreneurs, executives, and business leaders with investment, retirement, tax, and estate planning advice.
Green holds a bachelor's degree in finance from the University of Tennessee and a Certified Exit Planning Advisor (CEPA®) designation. This is his fifth consecutive year on the Next-Gen Advisors Best-in-State list. The 2024 Forbes/SHOOK list features over 1,600 professionals managing nearly $2.8 trillion in assets, all born in 1985 or later with at least four years of experience.
UBS announced that four advisors in its Philadelphia D.C. Wealth Management Market have been named to the 2024 Forbes Top Next-Gen Wealth Advisors Best-in-State List. The recognized advisors are:
- Charlie Anderson (Bethesda, MD) - Specializes in financial planning, investment management, and estate planning
- John Uehling (Newtown, PA) - Provides wealth management services for families, high net worth individuals, and business owners
- Nick Francia (Washington, D.C.) - Advises business owners on tax-efficient exit strategies, focusing on Employee Stock Ownership Plan transactions
- Kayvon Sarmadi (Washington, D.C.) - Advises business owners on wealth and investment management, complex business transactions, and managing alternative investments
Both Francia and Sarmadi were also named to the 2024 Forbes America's Top Next-Gen Wealth Advisors list. The Forbes/SHOOK Top Next-Gen Advisors Best-in-State list includes 1,621 professionals managing $2.8 trillion in assets.
UBS AG (NYSE:UBS) (SWX:UBSN) has published its second-quarter 2024 financial report and Pillar 3 report. This follows the earlier release of UBS Group AG's consolidated second quarter results on August 14, 2024. The detailed reports are now available for download on the UBS website. This announcement is made in accordance with Article 53 of the SIX Exchange Regulation Listing Rules, highlighting the company's commitment to regulatory compliance and transparency in financial reporting.
UBS Investment Bank has announced quarterly coupon payments for the ETRACS Alerian MLP Index ETN Series B (NYSE Arca: AMUB). The ETN, traded on the NYSE Arca, will distribute a coupon amount of $0.2794 per note. Key dates for this distribution include:
- Coupon Valuation Date: August 15, 2024
- Ex-Date and Record Date: August 28, 2024
- Payment Date: September 6, 2024
The current yield, annualized based on this coupon payment, is 6.30%. However, UBS emphasizes that this yield is not indicative of future coupon payments, and there is no guarantee of any coupon or distribution amount under the ETN.
UBS reported a net profit of USD 1.1bn for 2Q24, with a profit before tax (PBT) of USD 1.5bn and an underlying PBT of USD 2.1bn. The first half of 2024 saw a net profit of USD 2.9bn and net new assets of USD 27bn in Global Wealth Management. The company achieved USD 0.9bn in gross cost savings, reducing non-core and legacy risk-weighted assets by 42% year-over-year. UBS maintained a strong balance sheet with a CET1 capital ratio of 14.9% and commenced share repurchases worth USD 467m as of 9 August 2024. UBS was named "World's Best Bank" and "Switzerland’s Best Bank" at the Euromoney Awards for Excellence 2024. Despite economic uncertainties, UBS expects continued momentum in client and transactional activity into the third quarter, along with integration-related expenses and moderate net interest income headwinds.
UBS Investment Bank has announced coupon payments for 8 ETRACS Exchange Traded Notes (ETNs). Five ETNs traded on NYSE Arca will receive payments on August 20, 2024, while three ETNs traded on NASDAQ are expected to receive payments on August 27, 2024. The ETNs are linked to various indices, including high dividend, small cap, preferred stock, closed-end fund, mortgage REITs, gold, silver, and crude oil.
Notable coupon amounts include $0.1177 for HDLB (9.78% annualized yield), $0.0377 for SMHB (16.69% annualized yield), and $0.2116 for CEFD (14.12% annualized yield). The NASDAQ-traded ETNs have expected coupon amounts of $2.0509 for GLDI (12.31% expected yield), $1.5541 for SLVO (22.59% expected yield), and $0.4186 for USOI (10.65% expected yield).
UBS Private Wealth Management has announced the appointment of Dan Chorney as a Managing Director and Financial Advisor in Manhattan. With over 20 years of experience, Chorney will be based in the firm's 1285 Avenue of the Americas office, reporting to Market Director Kellie Brady. His expertise includes advising on complex financial matters, guiding founders through business sales, and working with private equity professionals and non-profit organizations.
Chorney joins UBS from Bernstein Private Wealth Management, where he served as a Private Wealth Advisor. He holds an MBA from New York University and a bachelor's degree from the University of Vermont. Outside of work, Chorney is actively involved in philanthropy, particularly supporting research for Prader-Willi syndrome through the Foundation for Prader-Willi Research.
UBS announced that four financial advisors in its Pacific Desert Market have been named to the Barron's Top 1200 Financial Advisors list for 2024. The recognized advisors are:
- Matt Megorden (Honolulu) - Ranked #1 in Hawaii for the fifth consecutive year
- Steven Schultz (Phoenix) - Ranked #3 in Arizona
- Brad Howell (Phoenix) - Ranked #26 in Arizona
- Braydon Hamilton (San Diego)
These advisors have also been recognized on other prestigious lists, including Forbes Best-in-State Wealth Advisors. Justin Frame, Pacific Desert Market Executive at UBS Wealth Management USA, praised their professionalism and commitment to client service. The rankings are based on factors such as assets under management, revenue, regulatory record, and quality of practice.
UBS Wealth Management USA announced that The Rosegarten/Rubin Financial Group, an advisor team in their 299 Park Avenue office, has been named to the Forbes Best-In-State Wealth Management Teams and Forbes Top Wealth Advisors lists for 2024. Founded over 30 years ago by David Rosegarten and Miles Rubin, the team is known for providing expert financial advice to prominent executives, business owners, corporations, and non-profit organizations.
The team specializes in total portfolio planning, focusing on long-term asset growth, fixed income strategy, retirement planning, asset allocation, and risk management. Both David and Miles have been recognized individually on the Forbes Best-in-State Wealth Advisors list for several consecutive years. The Forbes/SHOOK Best-In-State Wealth Management Teams list for 2024 includes over 4,100 teams managing approximately $5.1 trillion in client assets.
UBS Private Wealth Management has announced the addition of the Reynolds, Grindel & Hall Wealth Management Group to its Tampa, FL office. Led by Managing Director Greg Kadet, the team includes Financial Advisors Jeffrey Reynolds, David Grindel, and Jeremy Hall, bringing nearly 70 years of combined industry experience. They specialize in comprehensive financial planning and personalized wealth management strategies.
Jeffrey Reynolds, with over 30 years of experience, focuses on multi-generational wealth management and community involvement, serving on various boards. David Grindel, a Certified Financial Planner™ with 20 years of experience, prioritizes long-term financial planning and community service. Jeremy Hall, also a Certified Financial Planner™, specializes in estate planning, retirement strategies, and insurance needs. This team joins UBS from Morgan Stanley.
FAQ
What is the current stock price of UBS Group (UBS)?
What is the market cap of UBS Group (UBS)?
What is UBS Group AG?
What are the core businesses of UBS?
Where is UBS Group AG headquartered?
What recent investments has UBS made?
How much in assets does UBS manage?
On which stock exchanges are UBS shares listed?
What is UBS's approach to wealth management?
How does UBS support third-party clients?
What is UBS Next?
What is the significance of UBS's investment in Synthesized Ltd?
