José García has joined UBS Wealth Management in Miami as a financial advisor, becoming part of the VPHN Wealth Partners team. Previously a senior investment manager at Wells Fargo, he managed over $500 million in client assets and has extensive experience in wealth management. García holds a Finance degree from Florida International University and an MBA from the University of Florida.
UBS has launched the first-ever tokenized money market fund, the "UBS USD Money Market Investment Fund Token" (uMINT), on the Ethereum blockchain, catering to rising investor interest in tokenized assets. This initiative aligns with UBS's Distributed Ledger Technology strategy and reflects a broader trend among major banks, including Goldman Sachs and Deutsche Bank, to embrace tokenization in finance. As tokenization gains traction, Ethereum's dominance in real-world asset (RWA) tokenization, valued at $3 billion, positions it as a key player in the evolving financial landscape.
UBS has upgraded Cohen & Steers (NYSE: CNS) to Neutral from Sell, raising the price target to $102 from $63, citing improved fundamentals and a robust $1.3 billion inflow in Q3. Despite a positive outlook, caution is advised due to high stock valuation compared to historical averages. The firm also announced leadership changes and plans for new growth initiatives, including active ETFs.
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