UBS Group AG

Paineebber was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000.

PaineWebber

UBS Group AG is a holding company, which engages in the provision of financial management solutions. It operates through the following segments: Global Wealth Management, Personal and Corporate Banking, Asset Management, Investment Bank, Non-Core and Legacy, and Group Items. The Global Wealth Management segment involves the provision of advice and solutions and offers investment management, estate planning and corporate finance, banking products and services. The Personal and Corporate segment focuses on offering retirement, financing, investments and strategic transactions through its branch network and digital channels. The Asset Management segment consists of capabilities and styles, and advisory support. The Investment Bank segment includes research, advisory services, facilitating clients raising debt and equity from the public, private, and capital markets, cash and derivatives trading. The Non-Core and Legacy segment refers to assets and liabilities prior to the acquisition. The Group Items segment consists of Technology, Corporate Services, Human Resources, Finance, Legal, Risk Control, Compliance, Regulatory and Governance, Communications and Branding, Group Sustainability and Impact, Chief Strategy Office, and Group Treasury. The company was founded on June 29, 1998 and is headquartered in Zurich, Switzerland.

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Granted, it was more an accounting quirk rather than hard money entering its coffers, but UBS's $28.88 billion profit in the second quarter was one for the record books.

Here's where UBS's profit of $29 billion ranks

UBS is planning to cut 3,000 jobs in Switzerland after its shock takeover of rival Credit Suisse. The move comes as the financial giant targets nearly $10 billion in savings by 2026.

UBS to cut 3,000 jobs in Switzerland after Credit Suisse takeover

UBS on Thursday reported a huge profit bump in the second quarter from acquiring Credit Suisse, as the Swiss banking giant decided to integrate the local banking operation it had previously considered spinning off.

UBS reports $29 billion profit as it rules out domestic bank spinoff

Shares in UBS hit their highest level since October 2008 on Thursday, extending a strong run that has put the Swiss bank well ahead of its European rivals following the takeover in March of its struggling rival Credit Suisse.

Shares in Swiss bank UBS hit highest since late 2008

UBS expects around 1,000 jobs to go from integrating Credit Suisse's Swiss business, Credit Suisse (Schweiz), and an additional 2,000 redundancies in Switzerland over the next couple years, Chief Executive Sergio Ermotti said on Thursday.

UBS sees around 3,000 redundancies integrating Credit Suisse in Switzerland - CEO

UBS said Thursday that it expected to generate $10 billion in savings from a sweeping overhaul of the new global banking giant created by its emergency rescue of stricken rival Credit Suisse earlier this year.

UBS targets cost cuts of $10 billion as it absorbs Credit Suisse

UBS booked a record $29 billion net profit last quarter after it integrated Credit Suisse into its books.

UBS Begins Next Act in Credit Suisse Merger

Following are figures from UBS's second-quarter report, its first earnings announcement since taking over rival Credit Suisse.

Factbox: Key figures for UBS, including Credit Suisse

UBS on Thursday posted a second-quarter profit of $28.9 billion in its first quarterly earnings since Switzerland's largest bank completed its takeover of stricken rival Credit Suisse.

UBS posts $29 billion second-quarter profit in first results since Credit Suisse takeover

UBS Group said on Thursday it would fully absorb Credit Suisse's domestic bank - a decision that comes despite a likely backlash in Switzerland where it could result in the loss of thousands of jobs.

UBS to absorb Credit Suisse's domestic bank

UBS Group on Thursday reported $28.875 billion in net profit attributable to shareholders for the second quarter, in its first earnings results since it took over Credit Suisse.

UBS reports second-quarter profit of $28.875 bln

ZURICH--(BUSINESS WIRE)--Regulatory News: UBS: (NYSE:UBS) (SWX:UBSN): UBS's 2Q23 results materials are available at ubs.com/investors – The audio webcast of the earnings call starts at 08:30 CEST, 31 August 2023. A definition of each alternative performance measure, the method used to calculate it and the information content are presented under “Alternative performance measures” in the appendix to our 2Q23 report. The reconciliation of reported and underlying performance is presented in the app.

UBS announces second-quarter 2023 earnings and decision to integrate Credit Suisse (Schweiz) AG (Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules)

Arthur J. Gallagher & Co.

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Propelled by strong earnings and upbeat guidance, the shares of several leading companies are now at their highest level in a year. And while some investors might be weary of stocks trading at 52-week highs, assuming they are destined to fall, many of the securities involved are from best-of-breed companies and household names.

7 Stocks Sitting At 52-Week Highs Right Now

Insurers were expected to face claims for billions of dollars from Hurricane Idalia which made landfall in Florida on Wednesday, adding to a challenging year for the industry that could result in higher premiums for customers.

Insurers brace for Idalia claims, UBS estimates $9.36 billion cost in Florida

Credit Suisse said it will reduce the volume of new markets business from Sept. 22 while UBS integrates its former rival, the bank said in a letter sent to clients, as the 166-year-old firm winds down trading in global securities.

UBS winds down Credit Suisse Global Markets business - client letter

UBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday.

UBS, Swiss finance blog settle Credit Suisse legacy lawsuit

UBS will publish on Aug. 31 its first earnings report since a hastily arranged takeover of its Swiss rival Credit Suisse, shedding new light on the deal's impact and the inner workings of the new banking giant.

Explainer: After Credit Suisse takeover, UBS gives first glimpse of new group

Switzerland's Competition Commission is looking into UBS's takeover of Credit Suisse, Swiss media reported on Monday.

Swiss Competition Commission examining UBS takeover of Credit Suisse - media

Credit Suisse, which is now a subsidiary of UBS , posted a loss of 3.5 billion Swiss francs ($4.0 billion) in the second quarter of 2023, according to a report in the Sonntagszeitung, which cited insiders at the bank.

Credit Suisse posted $4 billion loss in 2Q - Sonntagszeitung

KNOXVILLE, Tenn.--(BUSINESS WIRE)--UBS Wealth Management USA announced today that Financial Advisor Daniel P. Green, based in the firm's Knoxville, Tennessee office, has been named to the Forbes Top Next-Gen Wealth Advisors Best-In-State list for 2023. This is the fourth consecutive year that Daniel has appeared on the Forbes Next-Gen rankings. “We are very proud to once again see Daniel recognized for his achievements and dedication to helping clients achieve their business and financial goals.

UBS Advisor Daniel Green Named to Forbes Top Next-Gen Wealth Advisors Best-In-State List

Goldman Sachs

JPMorgan Chase & Co

Morgan Stanley

Goldman Sachs (NYSE:GS) Group Inc, Morgan Stanley (NYSE:MS), JPMorgan Chase & Co (NYSE:JPM) and UBS AG have agreed to pay $499 million to settle an antitrust class action by US pension funds over the banks' control of the market for stock loans used for hedging and short selling, Bloomberg reported late Wednesday.  The media outlet noted that Credit Suisse AG last year agreed to pay $81 million to settle the claims against it.

Goldman Sachs, Morgan Stanley, JPMorgan, and UBS to pay $499M in stock lending settlement

Goldman (GS), Morgan Stanley (MS), JPMorgan (JPM) and UBS Group (UBS) settle a lawsuit alleging rigging of the stock loans market and collectively agree to pay $499 million.

JPM, MS, GS & UBS Settle Stock Lending Lawsuit, to Pay $499M

Bank of America

JPMorgan Chase & Co. JPM, +0.68%, Morgan Stanley MS, +0.49%, Goldman Sachs Group Inc. GS, +1.11%, UBS Group AG UBS, +2.49% and EquiLend agreed to pay $500 million in cash to settle a six-year-old antitrust suit led by four pension funds and an advisory firm called Torus Capital LLC, according to a statement issued late Wednesday. Negotiations with Bank of America Corp. BAC, +0.04% are continuing, said law firm Cohen Milstein Sellers & Toll PLLC.

Morgan Stanley, JPMorgan, Goldman in $500M settlement in stock lending antitrust suit

Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS have agreed to pay $499 million to settle an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market.

Goldman, JPMorgan, Morgan Stanley, UBS in $499 million stock lending settlement

Goldman Sachs , JPMorgan Chase , Morgan Stanley and UBS have reached a $499 million settlement of an antitrust lawsuit by investors who accused them of conspiring to stifle competition in the stock lending market.

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