Newly appointed UBS CEO Sergio Ermotti (R) speaks with UBS Chairman Colm Kelleher during a press conference in Zurich on March 29, 2023.UBS CEO Sergio Ermotti earned 14.4 million Swiss francs ($15.9 million) in 2023 after his surprise return at the helm of the Swiss banking giant, following its takeover of stricken rival Credit Suisse.The bank announced in late March that Ermotti would return for a second spell as CEO, replacing Ralph Hamers from April 5 last year, as UBS undertook the mammoth task of integ ...

UBS Group AG (UBS) will be subjected to two stress tests this year along with around 40 reviews by Swiss financial regulator, FINMA. The increased vigilance on the country's last remaining global systemic bank comes after its 2023 takeover of Credit Suisse, escalating concerns about "too big to fail" lenders.Following the acquisition, UBS’ balance sheet is twice the size of the Swiss economy. This might result in stringent capital and liquidity requirements for UBS.Per Thomas Hirschi, FINMA's head of the ba ...

There are four strategies investors can adopt to manage tax liabilities, regardless of who wins the 2024 election, according to UBS. The firm says investors should diversify their tax statements and defer capital gains for as long as they can. They should also ramp up lifetime gifting now and find a trust and estate lawyer, UBS says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read preview Thanks for signing up! Access yo ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

UBS Group AG (UBS) intends to expand its wealth management business in the United States over the next three or four years on the back of mergers and acquisitions (M&A). The news was reported by Reuters that cited an interview of UBS chairman, Colm Kelleher, with the NZZ newspaper.This strategic approach reflects UBS Group’s commitment to expanding its footprint in the U.S. market and further strengthening its presence in the wealth management space.Over the past years, UBS Group has significantly strengthe ...

UBS has maintained a neutral rating on London Stock Exchange Group PLC (LSE:LSEG) shares despite the capital markets and data firm having a relative discount to its US counterparts. Analysts at the bank pointed out LSEG’s lack of earnings momentum to justify their neutral stance. According to UBS, LSEG's earnings momentum has significantly lagged behind its peers, causing the ongoing valuation discount. Since the end of 2022, LSEG's consensus EPS for 2024/25 has been reduced by 11-12%, contrasting with the ...

Gold has continued to hit record highs despite several headwinds and UBS expects the price to see a pullback in the near term and then rally to further new records later in the year.  The Swiss bank sees gold being supported by several trends. These include the US Federal Reserve "appearing on track" to cut interest rates, support for gold from central banks and investors buying gold, and heightened geopolitical risk. “We remain positive on the price of gold for 2024, and continue to recommend it as a portf ...

SAN DIEGO--(BUSINESS WIRE)--UBS Wealth Management today announced that James (Jim) V. Carideo has been appointed Market Director for the firm’s San Diego offices, effective January 1, 2024. He will be based in the downtown San Diego office and will oversee financial advisors and support staff in San Diego and additional branches in Rancho Bernardo and Carmel Valley. Jim Carideo has been with UBS for nearly 13 years, most recently serving as Market Director in Portland, Oregon. In that role, Jim oversaw a ...

LOS ANGELES--(BUSINESS WIRE)--UBS Private Wealth Management announced today that financial advisor team, The Mahoney Group, based in the firm’s Los Angeles Private Wealth Management office, has been named to the Forbes Best-in-State Wealth Management Teams list for 2024. As an accomplished UBS Private Wealth Management team with over 36 years of experience, The Mahoney Group specializes in guiding private company founders and their families through the preparation, long-term planning and management of th ...

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 ...