After BP PLC (LSE:BP.) named Meg O'Neill as its chief executive, the first time an external candidate has taken the helm in the company's 115-year history, analysts at UBS said the appointment looked designed to accelerate the change in strategic direction announced earlier this year, particularly around culture and returns-focused growth.
Zurich, the home canton of Switzerland's biggest banks, has called on the federal government to reconsider plans to tighten capital requirements for UBS , saying they risk undermining the competitiveness of its financial sector.
UBS (UBS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
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UBS Group AG, headquartered in Zurich, Switzerland, is a global financial services company that caters to private, institutional, and corporate clients across the globe. Operating through its five main divisions: Global Wealth Management, Personal & Corporate Banking, Asset Management, Investment Bank, and Non-core and Legacy, UBS Group AG delivers comprehensive financial advice and solutions. Founded in 1862, the company has a rich history and underwent a name change from UBS AG to UBS Group AG in December 2014. It prides itself on offering a broad range of financial services and products to meet the diverse needs of its clients.