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UBS Group AG (UBS)

27.49

+0.13

(+0.48%)

At close: April 25 at 4:00 PM EDT

27.60

+0.11

(+0.40%)

After hours: April 25 at 7:54 PM EDT

UBS to Regulators: We Don't Need Extra Capital

UBS Chairman Colm Kelleher criticized Switzerland’s plans to increase the bank’s loss buffers, saying “additional capital is the wrong remedy” to prevent another bank collapse. UBS took over its hobbled rival Credit Suisse last year in a government engineered rescue. Credit Suisse for years before failing insisted it had enough capital, and sometimes publicly battled regulators who said it needed more.

The Wall Street Journal yesterday

UBS
+0.48%
Switzerland says UBS may need more cash. The bank is fuming

A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses. Now, the giant Swiss lender is hitting back, saying its finances are robust.

CNN Business yesterday

UBS
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Top M&A financial advisers in Asia-Pacific for Q1 2024 revealed

GlobalData’s financial advisers league table analyses top advisers by volume, deals, and mergers and acquisitions (M&A).

Hotel Management Network yesterday

DZZ

UBS
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JPM
Dive Deposits: Moynihan, Pick are refashioning the buttoned-up earnings call, with words

Seven comments from executives and officials show varying degrees of unexpected boldness during banks’ most straight-laced period.

Banking Dive yesterday

UBS
+0.48%
UBS flags 'serious' concern about new Swiss capital requirements

UBS executives on Wednesday told shareholders that the bank has major concerns about the Swiss government's recently announced plan to hit the country's largest lender with tougher capital requirements. The government laid out plans two weeks ago for how to police banks deemed "too big to fail" to shield the country from a repeat of the collapse of Credit Suisse, which UBS acquired in a rescue arranged by the authorities and backed by the state. "We are seriously concerned about some of the discussions related to additional capital requirements," UBS Chairman Colm Kelleher said at the bank's annual general meeting in Basel.

Reuters yesterday

UBS
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UBS’s Drew Freides and Michael Kanigher Named to Forbes Best-in-State and Top Wealth Advisors lists

LOS ANGELES, April 23, 2024--UBS Private Wealth Management announced today that Drew Freides and Michael Kanigher, Private Wealth Advisors and Managing Directors in the firm’s Los Angeles Private Wealth Management Market, have been named to the Forbes America’s Top Wealth Advisors and Forbes Best-in-State Wealth Advisors lists for 2024. Drew ranked in the top 10 advisors nationally and #1 in the Los Angeles Private Wealth category. Michael ranked #8 in Los Angeles Private Wealth and rose to #78

Business Wire 2 days ago

UBS
+0.48%
UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

LONDON (Reuters) -Norway's sovereign wealth fund has backed UBS' plan to make its Additional Tier 1 (AT1) bonds, a form of debt, more appealing to investors by protecting them from a wipeout, and also signed off on UBS CEO Sergio Ermotti's pay package. The vote from the Norwegian fund, UBS' second-largest shareholder, at the bank's annual general meeting this week is a boost for UBS, which is seeking to prop up its capital buffers to satisfy Swiss regulators' demands as it integrates its former rival Credit Suisse. The bonds can be converted into equity or written off.

Reuters 2 days ago

UBS
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UBS Dials Back China Fund Plans on High Costs, Grim Outlook

(Bloomberg) -- UBS Group AG is postponing plans to build its own mutual fund business in mainland China due to high costs and a dim profit outlook, people familiar with the matter said.Most Read from BloombergRay Dalio’s Famous Trade Is Sputtering, Investors BailingTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayElon Musk’s Robotaxi Dreams Plunge Tesla Into ChaosZimbabwe’s ZiG Wipes Out 330% Stocks RallyApple’s China iPhone Sales Dive 19% in Worst Quarter Since 2020The Swiss bank w

Bloomberg 2 days ago

UBS
+0.48%
IDCBF
UBS to Open Menlo Park Office, Hires Lynch for Tech Deals

(Bloomberg) -- UBS Group AG plans to open an office in Menlo Park, California, and hired Sean Lynch from Barclays Plc to bolster its business advising technology companies ahead of a predicted revival in dealmaking and initial public offerings.Most Read from BloombergUS Economy Slows and Inflation Jumps, Damping Soft-Landing HopesMalaysia in Talks With Tycoons on Casino to Revive $100 Billion Forest CityBig Tech Surges in Late Hours on Blowout Earnings: Markets WrapBiden’s Gains Against Trump Va

Bloomberg 3 days ago

UBS
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UBS’s Swiss Rivals Hope Credit Suisse Hires Will Win Wealthy Clients

UBS Group’s smaller Swiss rivals have been on a hiring spree for former Credit Suisse employees, hoping to take a bigger slice of the wealth-management market. Credit Suisse’s downfall and its subsequent rescue deal by UBS last year created a potential opportunity for the likes of Julius Baer Gruppe, EFG International and Vontobel Holding to poach advisors and the assets they managed. As a result, competition in the Swiss wealth-management market looks set to intensify this year, with UBS trying to win back clients and Swiss private banks looking to reap the benefits of their extensive hiring.

The Wall Street Journal 3 days ago

EFGIF

VONHF

UBS
+0.48%
UBS Group (UBS) to Cut Jobs for $10 Billion Cost Reduction

UBS Group (UBS) plans to cut jobs in five separate waves, starting June 2024, to save costs. The other waves are set to take place in the months of August, September, October and November.

Zacks 3 days ago

UBS
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BLK
Swiss Banks Face $440 Million Hit on Higher SNB Reserve Rule

(Bloomberg) -- The Swiss National Bank is requiring banks to hold more money at the institution, a move that will cut how much interest it pays to them. Most Read from BloombergTrump Has Only $6.8 Million for Legal Fees With Trial UnderwayTikTok to Remove Executive Tasked With Fending Off US ClaimsChina Is Front and Center of Gold’s Record-Breaking RallyTesla Spends Weekend Cutting Prices of Cars and FSD SoftwareUS Dollar’s Extended Reign Delivers Stark Wake-Up Call for MarketsThe central bank i

Bloomberg 3 days ago

UBS
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Five waves of UBS layoffs to start in June, SonntagsZeitung says

VIENNA (Reuters) -Layoffs under Swiss banking giant UBS's cost-cutting programme announced after its takeover of Credit Suisse will take place in five waves this year starting in June, newspaper SonntagsZeitung reported on Sunday. "In total, 50-to-60% of ex-CS (Credit Suisse staff) will probably be laid off over the five rounds," SonntagsZeitung quoted a source it described as an insider as saying. After the first round in June, in which 25-30% of former Credit Suisse staff are expected to be made redundant, the next rounds will take place in August, September, October and November, the newspaper reported, putting the planned savings at 12 billion Swiss francs ($13.2 billion).

Reuters 4 days ago

UBS
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UBS hires financial advisor team led by Christopher Toregas in Los Angeles

LOS ANGELES, April 19, 2024--UBS Wealth Management USA today announced that Christopher Toregas CFP® has joined the firm as a Managing Director and Senior Portfolio Manager in the Century City office. Christopher and his team join the firm’s Los Angeles Market, managed by Market Executive Lauren Gorsche and Market Director Kreg Pearless.

Business Wire 6 days ago

UBS
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James Herring and John Gaffney join UBS Private Wealth Management in New York City

NEW YORK, April 19, 2024--UBS today announced that Private Wealth Advisors James Herring and John Gaffney will be joining the firm in New York City. At the conclusion of their respective notice periods, James and John will join the UBS Manhattan Market and will be based in the firm’s 299 Park Ave Private Wealth Management office, managed by Chris Amo and Bob Sorrentino.

Business Wire 6 days ago

UBS
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43 UBS Financial Advisors in the Pacific Northwest Market Named to Forbes Best-In-State Wealth Advisors list

SEATTLE, April 19, 2024--UBS Wealth Management USA announced today that 43 Financial Advisors from the firm’s Pacific Northwest Market, which spans across the four states of Alaska, Montana, Oregon and Washington, have been named to the Forbes Best-In-State Wealth Advisors list for 2024.

Business Wire 6 days ago

UBS
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UBS plans fresh cuts amid Credit Suisse integration: report

The Swiss banking giant plans to trim headcount in banking, markets and wealth management, Bloomberg reported. The lender has said it aims to save around $6 billion in staff costs in the coming years.

Banking Dive 7 days ago

UBS
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UBS plans next round of layoffs in Credit Suisse integration, Bloomberg News reports

The layoffs are scheduled to take place in the upcoming weeks, the report said, citing people with knowledge of the matter, adding that the job cuts are expected in the wealth management and markets units. UBS' takeover of Credit Suisse, the biggest bank merger since the 2008 global financial crisis, was hastily arranged by Swiss authorities in March 2023 to avert Credit Suisse's collapse.

Reuters 8 days ago

UBS
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UBS, Nomura Battle to Win Rates Sales to Europe’s Ultra Rich

(Bloomberg) -- UBS Group AG and Nomura Holdings Inc. are making a push to sell sophisticated fixed-income products to the ultra wealthy in Europe, competing against firms such as BNP Paribas SA.Most Read from BloombergDubai Grinds to Standstill as Cloud Seeding Worsens FloodingChina Tells Iran Cooperation Will Last After Attack on IsraelWhat If Fed Rate Hikes Are Actually Sparking US Economic Boom?Tesla Asks Investors to Approve Musk’s $56 Billion Pay AgainPowell Signals Rate-Cut Delay After Run

Bloomberg 8 days ago

NMR

UBS
+0.48%
BNPQY
UBS Is Said to Face $20 Billion Capital Hit Under Swiss Plan

(Bloomberg) -- UBS Group AG faces an increase in regulatory capital requirements that could reach around $20 billion under reforms proposed in the wake of the collapse of Credit Suisse.Most Read from BloombergBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROIChina Tells Iran Cooperation Will Last After Attack on IsraelUS Two-Year Yield Eyes 5% Before Powell’s Remarks: Markets WrapIMF Steps Up Its Warning to US Over Spending and Ballooning DebtIran’s Conflict With Isr

Bloomberg 9 days ago

UBS
+0.48%

Performance Overview

Return	UBS	MSCI WORLD
YTD	-11.04%	+4.35%
1-Year	+33.71%	+16.98%
3-Year	+89.17%	+12.25%

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UBS Group AG (UBS)

UBS to Regulators: We Don't Need Extra Capital

Switzerland says UBS may need more cash. The bank is fuming

Top M&A financial advisers in Asia-Pacific for Q1 2024 revealed

Dive Deposits: Moynihan, Pick are refashioning the buttoned-up earnings call, with words

UBS flags 'serious' concern about new Swiss capital requirements

UBS’s Drew Freides and Michael Kanigher Named to Forbes Best-in-State and Top Wealth Advisors lists

UBS gets backing for capital plan, Ermotti pay from Norway wealth fund

UBS Dials Back China Fund Plans on High Costs, Grim Outlook

UBS to Open Menlo Park Office, Hires Lynch for Tech Deals

UBS’s Swiss Rivals Hope Credit Suisse Hires Will Win Wealthy Clients

UBS Group (UBS) to Cut Jobs for $10 Billion Cost Reduction

Swiss Banks Face $440 Million Hit on Higher SNB Reserve Rule

Five waves of UBS layoffs to start in June, SonntagsZeitung says

UBS hires financial advisor team led by Christopher Toregas in Los Angeles

James Herring and John Gaffney join UBS Private Wealth Management in New York City

43 UBS Financial Advisors in the Pacific Northwest Market Named to Forbes Best-In-State Wealth Advisors list

UBS plans fresh cuts amid Credit Suisse integration: report

UBS plans next round of layoffs in Credit Suisse integration, Bloomberg News reports

UBS, Nomura Battle to Win Rates Sales to Europe’s Ultra Rich

UBS Is Said to Face $20 Billion Capital Hit Under Swiss Plan

Performance Overview