UBS Group AG’s (UBS) strong capital position, expansion strategies and business restructuring initiatives will continue to aid its financials. However, a rising expense base and increased litigation provisions will likely limit bottom-line growth in the near term.Over the years, UBS Group AG’s strategic partnerships and buyouts, as well as its business optimization plans, have been supporting its financials. In June 2023, UBS completed the acquisition of Credit Suisse. This move is expected to enhance capab ...

About this content About William Farrington William kickstarted his career as a researcher and reporter for a global legal publication, covering everything from public law to M&A. Before moving to Proactive Investors, he worked as a reporter for a major fintech company with a focus on cryptocurrency and blockchain technology. Harking from Queensland, Australia, William obtained first-class honours in journalism and media from Birkbeck University before going on to complete an MA in creative and critical ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

SAN DIEGO & NEWPORT BEACH, Calif & IRVINE, Calif. & HONOLULU--(BUSINESS WIRE)--UBS Wealth Management USA announced today that 22 financial advisor teams based in the Southern California and Hawaiian areas of the firm’s Pacific Desert market have been named to the Forbes Best-In-State Wealth Management Teams list for 2024. Of the advisor teams recognized, nine work from the firm’s Orange County offices, ten are based in San Diego County, and three are in Honolulu. “I’m very proud to see so many of our tal ...

PHILADELPHIA--(BUSINESS WIRE)--UBS today announced that 21 advisor teams in the firm’s Philadelphia D.C. Wealth Management Market have been named to the 2024 Forbes Best-in-State Wealth Management Teams list. “It is truly gratifying to see so many of our talented advisors receive national recognition for their hard work and dedication to clients,” said Julie Fox, Philadelphia D.C. Market Executive at UBS Private Wealth Management. “On behalf of myself and the UBS leadership team, we congratulate each of ...

PARAMUS, N.J.--(BUSINESS WIRE)--UBS Private Wealth Management today announced that Financial Advisors Matthew Foley, Lawrence DeLuise and Christopher Butler have joined the firm. Together with their team, Foley, DeLuise & Associates, they manage more than $2 billion in client assets for ultra-high net worth individuals and families. Matt, Larry, and Chris are also joined by team members Jason Lipp, Deanna Wilson, Lori Macaluso, Greg Romano, Linsey Serafino and Emily Buske. Foley, DeLuise, & Associates jo ...

PITTSBURGH--(BUSINESS WIRE)--UBS Wealth Management USA today announced that Rimmel Mehaffey Pessy Wealth Consulting Group, an advisor team in the firm’s Pittsburgh, PA office, has been named to the Forbes Best-In-State Wealth Management Teams list for 2024. This is the second consecutive year that the team has been ranked the top advisor team (#1) in Pennsylvania – West by Forbes. “This recognition is not only a testament to the team’s combined talent, but also to their ability to collaborate and problem ...

UBS (NYSE:UBS) layoffs are coming as the Swiss bank looks to reduce its headcount following the absorption of Credit Suisse last year.According to UBS, it still has some measures to take before it can reap the benefits of bringing Credit Suisse into its fold. It looks like part of that will see it cut out jobs after the merger. This makes sense as some positions are likely redundant with overlap between employee responsibilities.What’s still unclear is how many workers will be affected by the UBS layoffs. W ...

PHOENIX--(BUSINESS WIRE)--UBS Wealth Management USA announced today that seven of the firm’s financial advisor teams in Arizona have been named to the Forbes Best-In-State Wealth Management Teams list for 2024. Four of the teams are based in Phoenix, two are in Tucson, and one is in Scottsdale. “Our advisor teams develop comprehensive financial plans and tailored financial solutions to meet clients’ individual needs and goals, leading to strong, lasting relationships,” said Shawn Bernhard, Arizona Market ...

There was a lot to unpack in UBS Group AG (NYSE:UBS)’s full-year results published on Tuesday, chiefly the Swiss bank’s absorption of former Swiss competitor Credit Suisse. As earlier reported by Proactive, this Swiss state-backed takeover resulted in a $29 billion accounting gain, which comprised some 96% of UBS’s before-tax profit. A stunning coup for UBS, even if integration costs resulted in a fourth-quarter loss of $279 million. But this near-hit bottom-line hit pales in comparison to the cost-cutting ...