Suni Harford’s Post

UBS Group announced pivotal shifts in leadership to drive forward their integration journey with Credit Suisse. Key milestones include the merger of UBS AG and Credit Suisse AG on May 31, 2024, and the consolidation to a single Intermediate Holding Company in the U.S. in June. These steps signify a powerful union and set the stage for enhanced global offerings. 🔹 Iqbal Khan steps into the role of President UBS Asia-Pacific, marking a historic move as the first divisional President based in the region. 🔹 Robert Karofsky ascends to President UBS Americas, leveraging his successful tenure leading the UBS Investment Bank. 🔹 Welcome George Athanasopoulos and Marco Valla as Co-Presidents of the Investment Bank, bringing decades of invaluable experience to the table. 🔹 Damian Vogel appointed Group Chief Risk Officer, succeeding Christian Bluhm, who will continue to advise. 🔹 Stefan Seiler, PhD expands his role to include Group Communications and Branding, ensuring cohesive messaging and branding strategies. 🔹 Farewell and gratitude to Ulrich Körner, Edmund Koh, and Naureen Hassan for their remarkable contributions. UBS Group CEO Sergio P. Ermotti expresses confidence in the new appointments, emphasizing a continued focus on growth and client-centricity. As they navigate change, UBS remains committed to sustainable and strategic progress, particularly in the Americas and Asia-Pacific. Exciting times ahead! 🚀 #UBSGroup #Leadership #GlobalGrowth #FinancialLeadership #AsiaPacific #Expansion #InvestmentBanking #RiskManagement #BrandStrategy #ClientCentricity

🚨 Breaking News: UBS Shatters Records with $28.8 Billion Profit, Riding High on Credit Suisse Takeover! 🚨 Talk about a blockbuster year—UBS, the world's largest wealth manager with a mind-boggling $5.1 Trillion AUM, just posted a record-breaking profit of $28.8 billion! 🔥 🎯 Key Highlights: 📈 Massive Gains: A substantial part of this windfall comes from their strategic takeover of Credit Suisse. Just like JPMorgan and First Republic, UBS's smart acquisition paid off handsomely, exceeding even the purchase price. 💰 Money Magnet: UBS is a powerhouse in wealth management, evidenced by a staggering $16 billion in net new money inflows. The company is bullish that this momentum will sustain. 🔀 Restructuring for Efficiency: Although the acquisition led to a jobs cut of around 3,000 positions, UBS is eyeing an impressive $10 billion in cost savings by 2026. 📊 Share Price Soars: Investors are obviously thrilled, as shares shot up by 6%, reaching their highest since 2008. For the year, the stock is up an astonishing +36%. 💡 Why This is Big News: 🌍 Global Impact: UBS's audacious moves send ripples through the financial world, signaling a competitive landscape ripe for innovation and growth. 🎢 Market Dynamics: A significant acquisition like this alters the ecosystem, setting new expectations for performance and scalability. 👩💼 Investor Confidence: A record profit of this scale shows that even in turbulent times, well-strategized investments can yield monumental returns. UBS's eye-popping figures are not just statistics; they're a testament to what robust financial strategies can achieve. In a rapidly evolving market, it's adapt or perish—and UBS is clearly choosing to adapt in a big way. #UBS #CreditSuisse #WealthManagement #FinancialMarkets

How UBS Is Setting Up Sergio Ermotti's Succession: UBS is restructuring its top management, paving the way for the succession of UBS CEO Sergio Ermotti. What can be inferred from this? #ubs #groupexecutiveboard

As you may know, Aumni has officially transitioned into a J.P.Morgan company. Although, my title changes to Executive Director at JPMorgan Chase & Co., the purpose and mission remain the same... Continue executing on our vision of bringing more structure, transparency, data and liquidity to the private capital markets. While the last five years have been a legitimately wild ride, both personally and professionally, the past ten months have seen previously unimaginable levels of personal volatility... 3/10/23: SVB 1.0's collapse, and especially SIVB's attendant ATOMIZATION, a mere 304 days ago (not that I'm counting). 3/22/23: JPMorgan Chase & Co. announces its intent to acquire Aumni . [At which point, Vincent Timoney texts... "Dude, you're a banker again." 🤣] 5/2/23: Aumni acquisition closes and we become part of the Digital Private Markets group within JP Morgan's investment bank. 10/2/23: Meeting JP Morgan colleagues, from around the globe (including some former SVB colleagues), in London, including "our new" Chairman & CEO (see pic attached with Michael Sears Brett Stallon Benjamin Tobin). ...I wish I could say that anything over the preceding thirty years had prepared me for what transpired between March 10th to May 5th, but sometimes you just gotta buy the ticket (or, simply have the market punch the one you're holding) and take the ride. 1/8/24: To wit, for those of you that are in town for this week's 42nd annual J.P. Morgan Healthcare Conference and want to get together to catch up, or talk private capital markets data for venture capital firms, feel free to hit me up. We can grab a beverage, caffeinated or otherwise. #jpmorgan #capitalconnect #venturecapital #vc #data #analytics #dataanalytics #jaimedimon

UBS advisors are some of the most productive advisors in the industry, yet even if they’re happy, they describe a firm that has many contradictions.   While each advisor and team determine the pros vs cons of staying vs going-they are asking tough questions about their future-especially considering the cost cutting that is happening within while UBS is attracting top talent with one of the best deals on the street.   Given these conversations and more Barbara Herman, in the following article outlines what we’re hearing and seeing. https://lnkd.in/eZ8zQE7m #wealthmanagement #financialadvisors #financialservice  

Big changes ahead. #privateinvestors #privatelending #privatelenders #investing #privatecredit #privatecapital #privatemoneylenders #wealth #wealthbuilding #investinginproperty kirfieldwealth.com.au

Enjoyed the breakfast meeting today with Stephen A. Schwarzman - CEO/Co-Founder of Blackstone! Few talking points from the small gathering that took place at UBS Private Wealth office: 1) Stephen started with no assets to manage and built their alternative asset business one client at a time rather pursuing growth through acquisition- led to higher quality relationships and earnings. 2) Private credit may play a more important role in investors portfolios as the market opportunity develops and strategies become available. 3) Significant portion of Consumer Price Index is made up of "shelter" which averages rent prices, therefore it tends to be a lagging indicator of true inflation based in real time. 4) Blackstone's competitive advantage is its size, as one of the largest, uses propriety info/data in forecast modeling and strategy 5) Too big at $1 trillion assets under management? Absolutely not, over 70 different strategies allows teams to operate efficiently, not as one pool of capital. 6) Reach out to me for additional meeting notes since there are many others.. (warren.coughlin@ubs.com) Thanks to William Tugurian, Michael Piet and the Blackstone team for providing direct access to the firm's thought leadership and CEO for my team (Presidio Partners- Mally Burton, CPWA®, Jon Schechter, CFP®, Samantha Bloom) and the office. Great job Kreg Pearless on opening remarks and setting the stage for the Q&A with one of the most important investors in the world today. #blackstone #privatemarkets #ubs

Goldman Sachs leads the pack by making the first announcement in 2024 to expand its $110bn Private Credit arm and appointing NYC based Greg Olafson as global head of Private Credit. Follow Private Credit Insights for the latest news in Private Credit. #privatecredit #privateequity #goldmansachs #investmentbanking #investing #credit

🚀 𝐔𝐁𝐒 𝐄𝐱𝐜𝐞𝐞𝐝𝐬 𝐄𝐱𝐩𝐞𝐜𝐭𝐚𝐭𝐢𝐨𝐧𝐬 𝐢𝐧 𝐅𝐢𝐫𝐬𝐭 𝐐𝐮𝐚𝐫𝐭𝐞𝐫 𝐏𝐨𝐬𝐭-𝐂𝐫𝐞𝐝𝐢𝐭 𝐒𝐮𝐢𝐬𝐬𝐞 𝐀𝐜𝐪𝐮𝐢𝐬𝐢𝐭𝐢𝐨𝐧 In a remarkable turnaround, UBS Group AG has reported a net income of $1.8 billion for the first quarter of 2024, surpassing estimates more than twofold since absorbing Credit Suisse. This marks the first profitable quarter since the historic takeover, which consolidated the two major Swiss banks. 𝐊𝐞𝐲 𝐡𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬: 🔹 UBS's wealth management arm reported $27 billion in net new assets for Q1, a substantial increase from the previous quarter. 🔹 Gross cost savings reached $1 billion, pushing total savings from the merger to $5 billion. 🔹 The bank aims for another $1.5 billion in cost reductions by year-end. UBS's balance sheet now exceeds $1.6 trillion, sparking regulatory concerns over systemic risks. 🔹 The bank is set to repurchase up to $1 billion in shares and increase dividends by a mid-teen percentage next year. Despite challenges ahead, including integration hurdles and regulatory scrutiny, UBS remains optimistic about its capital return targets and the future of its expanded operations. #UBS #Finance #MergersAndAcquisitions #WealthManagement #BankingInnovation

``Net new client funds brought in under Young’s remit came to almost $14 billion during the second half of last year, people familiar with the matter said. She’s using her ties with UBS investment bankers hailing from Credit Suisse to win business from ultra-rich clients. And former Credit Suisse operations in Southeast Asia, one of her areas, broke even early this year for the first time since the merger." #UBS #wealthmanagement #Asia #privatebank https://lnkd.in/gPgvchK4