13.26 0.00 (0.00%)
After hours: 4:17PM EDT
|Bid||13.27 x 38500|
|Ask||13.27 x 2900|
|Day's Range||13.17 - 13.28|
|52 Week Range||11.60 - 17.25|
|Beta (3Y Monthly)||1.06|
|PE Ratio (TTM)||11.29|
|Forward Dividend & Yield||0.70 (5.79%)|
|1y Target Est||15.79|
UBS Asset Management retained its position as the top-performing foreign fund house in China for a second year while three hedge fund managers also shot to prominence, the fourth annual analysis of the market published by Z-Ben Advisors showed. The Shanghai consultancy ranked Invesco as the second-best foreign manager in the world’s fastest-growing asset management market, relegating JPMorgan Asset Management and Schroders to third and fourth places respectively. for global asset managers over the next decade but complex choices face international players that want to build a presence in a rapidly changing market that is forecast to grow from $5.3tn to $9tn by 2023.
GAM moved closer to drawing a line under the problems that have engulfed the Swiss fund manager with a deal to sell about £600m of bonds that will complete the liquidation of funds at the heart of its crisis. The news from the Zurich-based group sent its shares up 14 per cent on Wednesday. , a London-based investment director who oversaw the group’s SFr11bn absolute return bond funds (ARBF).
Former House Financial Services Committee Chairman Jeb Hensarling this month joined a private-sector enterprise in the finance industry — giant bank UBS, in his case.
Swiss investment bank UBS is slated to merge its debt capital markets (DCM) and leveraged capital markets (LCM) units into a single global entity, according to an internal memo obtained by LPC, a unit of Refinitiv. “This step will allow our teams to partner even more closely to provide clients with holistic and comprehensive debt financing solutions, and will allow for more flexible allocation of resources against the opportunity set,” the memo states.
UBS shareholders should oppose discharging the board and top management of Switzerland's biggest bank from liability after a guilty verdict in a French tax evasion case, proxy adviser Institutional Shareholder Services (ISS) said. "A vote against the formal discharge of the board of directors and senior management is warranted on a precautionary basis, as the company was recently found guilty of illegal solicitation and laundering the proceeds of tax evasion by a French court," ISS said in a statement received by Reuters on Monday, ahead of UBS's May 2 annual shareholders meeting.
Credit Suisse is poised to take majority control of its Chinese investment-banking joint venture, the second major international lender to do so as the country opens up its financial sector to overseas competition. The Swiss bank has reached an agreement with partner Founder Securities to increase its stake in their joint venture to 51 per cent from 33.3 per cent, a previous limit for non-Chinese companies, by way of a capital injection of about SFr94m ($94m), according to statements from both parties on Monday. Credit Suisse follows local rival UBS, which won approval from regulators to take a controlling stake in its own joint venture in December.
The former congressman who led Republican's efforts to deregulate the banking industry after the financial crisis is starting a new job as an employee of Swiss bank UBS. Jeb Hensarling was a congressman from Dallas from 2003 to 2019. From 2013 to 2019 was chairman of the House Financial Services Committee, the committee that oversees the banking industry.
UBS today announced the appointment of former US Congressman Jeb Hensarling as Executive Vice Chairman of the Americas region. Hensarling most recently represented Texas's Fifth Congressional District in the US House of Representatives for eight terms (2003-2019). Prior to serving in Congress, he worked in both the financial services and energy industries, and practiced both corporate and real estate law.
Morgan Stanley's (MS) acquisition of an additional 5.5% stake in its China mutual funds joint venture for $3.73 million will make it the largest shareholder.
Wall Street’s S&P 500 closed a fraction higher on Thursday, lifted by gains in the financial and industrial sectors. Investors will shortly turn their attention to the start of corporate earnings season in the US, which opens with results from JPMorgan and Wells Fargo before the opening bell on Friday.
Shareholders of Swiss bank UBS Group should oppose its compensation report for 2018, proxy adviser Glass Lewis said, citing "pay-for-performance concern". Shareholders get a non-binding vote on pay policy at the bank's annual meeting on May 2. Glass Lewis said that while UBS had improved earnings last year, some financial indicators including earnings per share and return on equity lagged those of its Swiss and European peers.
Miami-based UBS Financial Services Inc. (UBS) advisor, Carlos E. Lowell, recently earned the Exit Planning Institute’s CEPA designation. The Certified Exit Planning Advisor (CEPA) Program is an executive MBA-style program that trains and certifies qualified and experienced professional financial advisors in the field of exit planning for business owners. Only a small percentage of financial professionals achieve this designation.
The Fed, along with the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC), rolls out fresh rules for 23 foreign banks operating in the United States.
UBS estimates 75,000 more stores need to close in the U.S., should e-commerce penetration grow to 25% by 2026, from 16% today. Within that, about 21,000 clothing stores, 10,000 consumer electronics stores, 8,000 home furnishing stores and 1,000 home improvement stores should close, UBS says. Clothing retailers, consumer electronics companies and home furnishing businesses will need to close more stores across the U.S. as e-commerce sales proliferate, according to UBS.
UBS shareholders are being urged to vote against the bank’s pay policy by proxy adviser Glass Lewis because a minor decrease in the bonus pool does not fully reflect the sharp fall in share price and a potential €4.5bn penalty in France for helping rich clients evade tax. The Swiss bank’s total “variable pay” pool for 2018 was reduced slightly to SFr3.1bn ($3.1bn) — while chief executive Sergio Ermotti’s package fell just 1 per cent to SFr13.8m — compared with a 30 per cent plunge in the stock price last year. “We have repeatedly highlighted our concerns with the level of executive payouts, which appears consistently above peers,” Glass Lewis said in a report Tuesday.
The Federal Reserve on Monday approved a proposal for new rules to govern foreign banks that an analyst said were ‘positive’ for the sector.
The Federal Reserve on Monday is set to consider proposed rules that would lower liquidity requirements for some foreign banks. The proposal comes after Congress passed legislation requiring regulators to modify some of the banking rules put in place after the financial crisis. It would apply the final liquidity coverage ratio rule that domestic banks now follow to foreign bank holding companies. Fed Governor Lael Brainard said she would opposed the proposed rule because it does not address the liquidity risks associated with branch and agency networks of foreign firms. The Fed will also consider a separate proposal to reduce the frequency that banks need to file living wills with regulators. Brainard said she would also oppose this proposal, saying it goes beyond the requirements laid out by Congress. The rules would cover important global banks such as Barclays , UBS , and Credit Suisse . Overall, the Fed estimates that the proposed changes would boost liquidity requirements for foreign banks by between 0.5% to 4%.
FT. LAUDERDALE, Fla., April 08, 2019 -- The law firm of Securities Fraud Attorney Mark A. Tepper has filed claim against UBS on behalf of a Georgia couple who.
The head of UBS Europe SE, Thomas Rodermann, will leave the bank when his contract expires at the end of November, UBS Group said on Monday. Switzerland's biggest bank gave no reason for the departure, which it said in a statement was by mutual consent. It declined to comment on a report in German newspaper Handelsblatt, which said the 54-year-old Rodermann was leaving after a turf war with Christine Novakovic, the Zurich-based head of wealth management for UBS's Europe, Middle East and Africa region.