In an interview with Neue Zuercher Zeitung (“NZZ”), Thomas Jordan, president of Swiss National Bank (“SNB”), stated that UBS Group AG (UBS) should increase its capital reserves in preparation for upcoming regulatory changes. Jordan further explained that these changes were considered vital to prevent any crash similar to what happened with Credit Suisse in 2023. This reform would ensure that problematic Swiss banks could be wound up or restructured without destabilizing Switzerland's financial system. Feder ...

About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government. S ...

Ernest HoffmanErnest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in ...

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 will likely limit bottom-line growth in the near term.Tailwinds of UBS Group AGOver the years, UBS Group AG has fortified its geographic footprint and expanded operations on the back of strategic partnerships and buyouts. These, along with business optimization plans, have been supporting the company’s financials. In June 2023, UBS Grou ...

Key TakeawaysUBS lifted its price target on Hanesbrands, saying the apparel maker could be at an "inflection point."UBS analyst Jay Sole increased the company's price outlook to $6.50 from $5.Sole is quoted as saying Hanesbrands will likely benefit from more spending on product development and marketing, as well as the sale of its Champion brand. Shares of Hanesbrands (HBI) gained Tuesday after UBS boosted its price target on the stock to $6.50 from $5 while maintaining a "neutral" rating. CNBC reported tha ...

Perimeter Solutions to Present at UBS Global Materials ConferencePresentation scheduled for September 4, 2024August 26, 2024 5:00 PM EDT | Source: Perimeter SolutionsClayton, Missouri--(Newsfile Corp. - August 26, 2024) - Perimeter Solutions (NYSE: PRM), producers of PHOS-CHEK® long-term fire retardant and other high-quality firefighting products and specialty chemicals, announced today that the company will present at the UBS Global Materials Conference in New York City on September 4, 2024.T ...

PERRYSBURG, Ohio, Aug. 26, 2024 (GLOBE NEWSWIRE) -- O-I Glass, Inc. (“O-I Glass” or “O-I”) today announced the Company will participate in UBS Global Materials Conference on Wednesday, September 4, 2024. O-I Glass Chief Executive Officer Gordon Hardie and Chief Financial Officer John Haudrich will present at 3:30 p.m. ET. A live webcast of the presentation will be available at: https://event.webcasts.com/viewer/event.jsp?ei=1685068&tp_key=3c947d5317 The replay will be available through the above link within ...

After an intense weekend of negotiations in March 2023, Swiss banking giant UBS agreed to buy its embattled rival Credit Suisse.Despite the attractive purchase price of $3.2 billion, investors were concerned about whether UBS would manage to turn around Credit Suisse's investment banking business — an old source of problems. UBS had also become one the biggest banks in Europe, raising political and regulatory fears.At the time, investors were "very concerned" about the complexity of the deal and whether UBS ...

Group 1: UBS Asset Management Divestiture - UBS Asset Management has agreed to divest its Quantitative Investment Strategies (QIS) business to Manteio Partners LLC, with the transaction expected to close in Q4 2024, pending regulatory and shareholder approvals [1] - The QIS team currently manages approximately $1.5 billion in assets, which will be transferred to Manteio Partners, allowing Manteio to operate as an independent unit [1] Group 2: Financial Performance and Restructuring - In Q2 2024, UBS's asset management segment reported an operating profit before tax of $130 million, a 64.6% increase year over year, primarily due to the consolidation of Credit Suisse revenues [1] - UBS is streamlining operations post-Credit Suisse acquisition, aiming to wind down its Non-Core and Legacy portfolio, releasing over $6 billion of capital by the end of 2026, and targeting gross cost reductions of around $13 billion by 2026 compared to 2022 levels [2] - UBS achieved gross cost savings of $0.9 billion in Q2 2024, totaling a yearly exit rate gross cost savings of $6 billion compared to the combined cost base of Credit Suisse and UBS in 2022 [2] Group 3: Real Estate Fund Liquidation - UBS announced the liquidation of a flagship real estate fund acquired from Credit Suisse due to investor withdrawals from commercial real estate markets, with the fund primarily consisting of office assets [3] - The decision to close the fund was made to avoid selling assets at an unfavorable time, which would negatively impact current investors [3] Group 4: Wealth Management Realignment - UBS is realigning its wealth management business to enhance offerings for ultra-rich clients, establishing a new division named GWM Solutions to consolidate various products starting July 1 [4] - This initiative aims to strengthen UBS's financial position while focusing on core activities [4] Group 5: Market Performance - Over the past six months, UBS Group shares have returned 9.3% on the NYSE, compared to the industry's growth of 12.2% [4]

UBS Group AG (UBS) will liquidate a flagship real estate fund it acquired when it bought Credit Suisse. The move came as the latest indication of the turmoil brought on by investors withdrawing their money from slumping commercial real estate markets.The fund, which comprises offices for four-fifths of its assets, has redemption requests from investors. However, the bank stated that fulfilling those demands would need selling assets at an ‘inopportune time,’ which would affect current investors. UBS determi ...