|Bid||15.26 x 3200|
|Ask||15.65 x 27000|
|Day's Range||15.34 - 15.49|
|52 Week Range||14.89 - 20.89|
|PE Ratio (TTM)||45.91|
|Forward Dividend & Yield||0.65 (4.33%)|
|1y Target Est||22.07|
The rating on the IO class, Cl. X-A, was affirmed based on the credit quality of the referenced classes. Moody's rating action reflects a base expected loss of 4.5% of the current pooled balance, compared to 4.6% at Moody's last review.
In its capacity as representative of Holders (the Holders’ Representative) of the FF Group Finance Luxembourg II S.A. CHF 150 million 3.25 per cent. Notes 2017 – 2021 (CH0385518052), unconditionally and irrevocably guaranteed by Folli-Follie Commercial Manufacturing and Technical Société Anonyme (the Guarantor), (the securities referred to as the “CHF Notes”) UBS AG informs that today, the Guarantor served a Notice to the Holders’ Representative that an event of default pursuant to Condition 8(c) of the Terms of the Notes has occurred and is continuing. This follows up on the media release issued by Guarantor on 14 August 2018.
Who needs hedge funds when a $2.4 trillion private bank is offering global macro trades to navigate late-cycle markets -- mimicking fast-money strategies with leverage to boot. UBS Group AG’s wealth management arm, the world’s largest, is pitching just that to billionaire clients. The relative-value strategies -- typically the domain of hedge funds -- aim to deliver juicy returns at 1 percent per month.
UBS Asset Management's Suni Harford said she's changed her mind on ESG when it comes to managing money. Harford who spent 24 years as Citi's global head of fixed-income strategy, has led UBS Asset Management since July 2017. UBS Asset Management's head of investments Suni Harford said she's changed her mind on environmental, social and governance (ESG) governance when it comes to managing money.
UBS’s wealth management office in Weehawken, N.J., is getting a makeover that will include a juice bar, a meditation room and plenty of greenery. The wirehouse has tapped WeWork, known mostly as an operator of shared office spaces, to do the job, Bloomberg reports. UBS’s thought was: “What can we do to help make that more of a communal atmosphere?” Tom Naratil, co-president of global wealth management, tells the outlet.
A Swiss court has ruled that bank UBS (UBSG.S) does not have to turn over client data to France following a request from Paris for the identities of thousands of people suspected of dodging taxes. The Federal Administrative Court found that requests for information must state why authorities believed taxpayers did not fulfil their obligations. "Keeping an account in Switzerland is not enough," it said in a summary of its ruling released late on Tuesday.
In it’s biggest design deal yet, WeWork is renovating UBS’s New Jersey offices — complete with a juice bar, meditation room and a lot more greenery #tictocnews https://bloom.bg/2OvdUbN (Source: Bloomberg)...
UBS Group AG doesn’t have to hand over client details to French tax authorities after a Swiss court handed the country’s largest bank a clear victory in a long-running saga over banking secrecy. UBS has been fighting efforts by French tax authorities to force it to turn over customer data for years as Swiss banking secrecy rules have been under siege from U.S. and European tax authorities. The request from France is based on information it received from German authorities, who seized data as part of their own tax probe.
Forbes has announced its second annual ranking of America’s Top Next Generation Wealth Advisors from all 50 states. Three San Diego-based UBS wealth advisors have made the listing. The local UBS rising stars include: Alex Howell of the La Jolla branch, Bryan Thompson of the downtown San Diego branch, and Kalyn Maher Walker of the Carmel Valley branch.
UBS Group AG decided last year that its 30-year-old wealth management office overlooking the Hudson River needed a fresh look. WeWork established Powered by We last year to offer real estate, design and office management expertise to large companies. It also allows the startup to reduce its need to take on expensive office leases and instead help redesign and run spaces that customers already inhabit.
The talk is of money, noblesse oblige, technology, Formula One. Here, not far from Wall Street, Swiss banking giant UBS Group AG has convened its annual Young Successors Program (YSP), a three-day workshop for people who were born loaded. With an average age of 27, attendees at the June YSP and other Next Gen functions hosted by the likes of UBS, Citi Private Bank, Morgan Stanley and Credit Suisse will one day rank among the world’s most sought-after clients.
Dozens of staff at UBS’s global wealth-management business are being let go amid a leadership shakeup, Bloomberg reports. The cuts come following the combination, in February, of the U.S. and international ...
UBS Group AG is laying off dozens of staff at its wealth-management division as it revamps the unit’s leadership team, according to people briefed on the matter. Stephen Freedman, who was appointed last year as head of sustainable investing solutions at the U.S. wealth-management division, was among the cuts, said the people, who asked not to be identified discussing personnel matters. Michael McVicker, who was named Thursday to lead the advisory business within the investment platforms and solutions unit, will continue to lead the sustainable investing efforts, according to a memo the bank sent to staff.
UBS Group AG said it’s planning to review how the bank handles cases of harassment after an alleged incident, which involved a young London-based trainee accusing a more senior employee of rape, according to people with knowledge of the situation. The alleged perpetrator resigned from the investment bank in March, five months after he was suspended, the two people said, asking not to be identified because the details of the incident are private. UBS had not started a formal disciplinary procedure into the individual’s behavior by the time he left the Swiss lender, the people said.
ZURICH—UBS Group AG on Tuesday said strong gains at its investment bank boosted overall profit in the last quarter, but warned political and trade tensions could shake investor confidence in financial markets. The better-than-expected results could help the Swiss bank convince investors about its strategy of focusing on managing money for wealthy clients while maintaining a streamlined investment-banking operation. Switzerland’s largest bank said net profit rose 9.4% to 1.28 billion Swiss francs ($1.29 billion) in the second quarter, beating analysts’ forecast of 1.02 billion francs.
UBS Wealth Management Americas is seeing significant savings after paring back recruiting and retention payments to its advisors. The business, which pulled out of the broker recruiting protocol last year and is focusing on organic growth, reported Tuesday that its second-quarter loan balances and expenses for compensation commitments were down 13% and 23%, respectively, year over year. Its recruitment and retention savings helped the Americas wealth management unit log an adjusted pretax profit of $389 million Swiss francs, up 16% year over year.
Strong results from bank UBS, car company PSA and chipmaker AMS propelled European stocks higher on Tuesday, breaking a three-day slide as the earnings season delivered a boost to the market. The pan-European STOXX 600 accelerated gains to touch its highest level in more than a month, ending up 0.9 percent, with heavyweight UBS among the biggest boosts, up 4.3 percent after its second-quarter profit topped expectations. PSA Group jumped nearly 15 percent after the Peugeot owner reported strong profits thanks to a turnaround at its newly acquired Opel-Vauxhall division.
Switzerland's UBS posted a stronger-than-expected profit in the second quarter of 2018 but the largest money manager for the globe's rich saw a slip in its core business of banking for the wealthy. Switzerland's largest bank also struck a cautious tone for the future because fears over a global trade war had made its customers more likely to hoard cash rather than borrow to invest. UBS's net profit of 1.3 billion Swiss francs ($1.3 billion) for the second-quarter beat analyst predictions although the group's wealth management arm, which accounted for more than half of profit, dipped unexpectedly.
is fine: It’s the Swiss bank’s clients you should worry about. Trading and risk taking among UBS’s global base of wealthy customers slowed in the second quarter, according to results reported Tuesday. The bank has built good defenses against this in recent years by shifting the focus of its private banking and wealth management business away from trading commissions to regular fees from investment advice and asset management.
Jul.24 -- Henry Peabody, portfolio manager for Eaton Vance and Julian Emanuel, chief equity & derivatives strategist at BTIG, discuss earnings for U.S. and European banks on "Bloomberg Markets: The Open."