UBS Group AG - UBS STOCK NEWS

UBS Group AG (NYSE:UBS) announces the second instalment of its 2019 dividend, scheduled for payment on 27 November 2020, pending shareholder approval at an Extraordinary General Meeting (EGM) on 19 November 2020. This follows a split decision made during the 29 April 2020 Annual General Meeting to distribute the dividend in two equal parts of USD 0.365 per share due to COVID-19 impact. The second distribution will derive equally from capital contribution reserves and retained earnings.

UBS reported a significant increase in its third quarter 2020 results, with profit before tax (PBT) rising 92% year-over-year to USD 2,578 million, and net profit attributable to shareholders increasing 99% to USD 2,093 million. The firm's diversified business model and strong client activity contributed to this performance, notably in Global Wealth Management, which achieved a PBT of USD 1,057 million, up 18% YoY. The CET1 capital ratio stood at 13.5%. UBS also aimed to return excess capital to shareholders, with plans for share repurchases in 2021. However, uncertainties from COVID-19 and geopolitical tensions could impact future growth.

UBS Private Wealth Management has welcomed Robert Stoker as a Managing Director and Private Wealth Advisor in San Francisco. Stoker brings over 23 years of experience from Bernstein Private Wealth Management, where he was a Principal. His expertise covers complex lending, pre-transaction planning, and advanced estate and trust planning. UBS aims to leverage Stoker's skills to enhance their wealth management services, creating a boutique family office within their global framework. Todd Locicero, West Coast Market Head, expressed enthusiasm for Stoker's addition to their team.

UBS Wealth Management USA and Luminary have launched the UBS x Luminary Fellowship Program to support businesses owned by women of color affected by COVID-19. A total of 55 fellowships will be awarded, offering business owners access to workshops, coaching, and mentoring. The program also provides insights from UBS and resources from the UBS Business Owner Resilience Center. Applications are open until October 30, 2020, with the fellowship commencing on November 6, 2020 and concluding on December 31, 2021.

UBS Investment Bank has announced coupon payments for 18 ETRACS Exchange Traded Notes (ETNs) traded on NYSE Arca. The coupon payments include amounts ranging from $0.0213 to $1.0490, with payment dates set for October 21, 2020. Key ETNs include MLPG and MLPR, with annualized yields of 14.18% and 23.00%, respectively. Coupon amounts are paid quarterly or monthly, depending on the ETN. It's important to note that current yields are not indicative of future payments and investors are not guaranteed any specific distribution.

UBS and Banco do Brasil have officially named their strategic partnership in South America as UBS BB Investment Bank. The new entity aims to become a leading investment bank in the region, offering M&A advisory, debt and equity capital markets services, and institutional securities brokerage across multiple South American countries. UBS BB will be headquartered in São Paulo and led by Daniel Bassan as CEO, alongside key executives from both firms. UBS holds a 50.01% stake while Banco do Brasil owns 49.99%. This partnership is expected to enhance investment banking capabilities in the region significantly.

UBS announces that two of its financial advisors in Texas, Sherry Verburgt and Carol Mani Johnston, have been recognized in Working Mother and SHOOK Research's 2020 Top Wealth Advisor Moms list. This award acknowledges the advisors based on asset management volume, firm-generated revenue, and quality of practices. Craig Vandegrift, UBS Managing Director, expressed pride in their dual commitments to clients and families. UBS is the largest wealth manager globally, offering a full spectrum of financial services and solutions to high-net-worth individuals and institutions.

UBS Private Wealth Management announces Michael S. Matthews, a Managing Director and Senior Portfolio Manager, has been recognized in the 2020 Forbes/SHOOK List of Top Wealth Advisors for the fifth consecutive year. Matthews, who has over 25 years of experience and leads The Matthews Group, specializes in holistic wealth management for a diverse clientele. Earlier this year, he also topped the Forbes/SHOOK Best-in-State Wealth Advisors list in Washington. This acknowledgment highlights his effective wealth management strategies and underscores UBS's commitment to excellence in financial services.