UBS Group AG is a multinational investment bank and financial services company based out of Switzerland. It provides Wealth Management, Personal & Corporate Banking, Asset Management, and Investment Banking services to the private, institutional and corporate clients worldwide.
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ubs acquitted in bulgaria money laundering case credit suisse penalties reduced
The Federal Criminal Court has acquitted UBS in the Bulgaria case, previously taken over by Credit Suisse, while reducing the sentences of two other defendants. Credit Suisse had been fined two million Swiss francs and ordered to pay 19 million francs for failing to monitor banking ties with the Bulgarian mafia and for not adhering to anti-money laundering regulations from July 2007 to December 2008. The other defendants, a former banker and a mafia associate, received a 29-month prison term and a conditional five-month sentence.
RBC maintains outperform rating for UBS with target price of 32 francs
RBC Capital Markets maintains an "Outperform" rating for UBS, setting a target price of 32 francs, despite current economic uncertainties affecting major European banks. Analyst Anke Reingen favors institutions with less reliance on net interest income and strong U.S. focus, highlighting UBS among preferred stocks. As of 09:04, UBS shares fell 1.0% to CHF 27.49, yet have risen 8.1% since the start of 2024, with the next balance sheet presentation scheduled for February 4, 2025.
ubs etf msci world socially responsible fund experiences recent decline
The UBS ETF - MSCI World Socially Responsible ETF A has recently declined by 0.40%, trading at EUR 0.66. The fund peaked at EUR 163.00 but started the trading day at EUR 163.80, with a 52-week low of EUR 123.86 reached on November 28, 2023. The last turnover recorded was 36,402 shares.
trump's tariff plans dampen market sentiment and impact stock performance
Trading is expected to start sluggishly, influenced by Donald Trump's tariff announcements on Mexico, Canada, and China, which have dampened market sentiment. Major industrial stocks like Schindler and UBS faced losses, while car manufacturers like Ford and GM also struggled due to potential impacts from the tariffs. Despite these challenges, the US stock market showed unexpected strength, buoyed by a ceasefire between Israel and Hezbollah.
RBC maintains outperform rating for UBS amid economic uncertainty
RBC has maintained its "Outperform" rating for UBS, setting a target price of 32 francs. Analyst Anke Reingen highlighted that increasing economic uncertainty is overshadowing the fundamentals of major European banks, favoring institutions with lower dependence on net interest income and stronger U.S. focus. Preferred stocks include Barclays, UBS, Julius Baer, Deutsche Bank, BNP, and OSB Group.
credit suisse acquitted in money laundering case after employee's death
A Swiss appeals court has acquitted UBS of charges related to Credit Suisse's 2022 conviction for failing to prevent money laundering linked to a cocaine dealer, following the death of a key former employee. The court ruled that the deceased's inability to defend himself violated the presumption of innocence, leading to the cancellation of a 19 million Swiss franc compensation order. UBS welcomed the decision, which resolves a legacy issue from its acquisition of Credit Suisse.
Christian Mumenthaler appointed President of UBS Center amid controversy
Christian Mumenthaler, recently ousted as CEO of Swiss Re, will take over as President of the UBS Center for Economics in Society at the University of Zurich in 2025, succeeding Kaspar Villiger. His appointment raises eyebrows due to his poor track record at Swiss Re, where he failed to maintain competitiveness against Munich Re and faced criticism for his leadership style, including a lack of accountability and controversial decisions at the Geneva Association.
UBS discusses economic outlook and local commitment at Aargau event
UBS is optimistic about the future and highlights its commitment to the Aargau region during an event at Aeschbachhalle in Aarau. Experts discussed the implications of Donald Trump's election on the global economy and provided updates on the merger between CS and UBS in Aargau.
RBC upgrades UBS to outperform with target price of 32 francs
RBC has upgraded UBS to an 'Outperform' rating with a target price of 32 francs, despite increasing economic uncertainty affecting major European banks. Analyst Anke Reingen favors institutions with lower reliance on net interest income and strong cost management, highlighting Barclays, UBS, Julius Baer, Deutsche Bank, BNP, and OSB Group as preferred stocks.
KKR expands Zurich office with new leadership in wealth solutions team
KKR has established a permanent office in Zurich as of December 2023, enhancing its Global Wealth Solutions team with the appointments of Derya Kara and Mattia Castrovillari. This expansion aims to strengthen ties with private banks and wealth managers in Switzerland, reflecting the growing demand for KKR's expertise in the region.
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