UBS Group AG (UBS)
UBS Braces for Most Complex Phase of Credit Suisse Integration
The banking group begins the migration of former Credit Suisse client accounts in Switzerland to the UBS platform in the second quarter.
UBS Doesn't Know What to Do With All the Art It Inherited From Credit Suisse
UBS is integrating thousands of Credit Suisse paintings, sculptures, posters and model ships. ‘There's still art that will be found somewhere, in a closet in Shanghai or something.
UBS Group Gets Regulatory Nod to Sell Stake in CSS China Unit
UBS gets approval to sell part of its CSS China unit to BSAM. This will reduce UBS' stake to 15%.
Gold to hit 3,100/oz by year-end: UBS
Joni Teves from UBS Investment Bank shares her bullish outlook on gold for 2025 and why UBS Investment Bank believes it will hit 3,100/oz by the end of the year. She also talks about the market sentiment around other key metals like platinum and copper.
Bank lobby warns excess regulation could make UBS mull leaving Switzerland
If Switzerland draws up regulation for its systemically important banks that is too onerous, it could make UBS consider leaving the country, the head of the Swiss Bankers Association (SBA) was quoted as saying on Tuesday.
After Becoming A Millionaire At 44, Spending Money Is Much Harder Than I Thought
Key Points If you are rich and afraid of spending money, you should find out what your fear stems from. Working with a financial advisor could potentially help you to feel better about spending your money. Making a budget and including room for splurges could help you see that spending is OK. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here here.(Sponsor) If you are a millionaire at 44, you are among a very small minority of people. The U.S. does have the highest number of millionaires in the world, as it’s home to 38% of all individuals worldwide who have a seven-figure net worth. Still, UBS reports that there are only 22 million millionaires in the U.S., which is just over 6% of the 340 or so million people living in this country. You should be proud of the fact that you achieved this status at such a young age, especially if your business success, hard work, and dedicated investing led you to this point. You should also be able to enjoy the money you have by using it to do things you love or support causes you care about. This doesn’t mean you necessarily have to stop working, although you can, but it does mean you should be able to spend on things that make you happy. Unfortunately, even people with a big net worth sometimes struggle to enjoy spending — and that seems clearly like your situation. If your unwillingness to spend has you feeling stressed or is stopping you from enjoying your money, it’s worth taking steps to try to fix that situation so your fortune can bring you more happiness. Here’s how. Consider the reason for your money worries Worrying about spending small sums of money when you are a millionaire is probably not a rational fear, as you most likely have plenty of money to be able to buy whatever you’d like. So, you’ll need to try to determine why you are having such a hard time. In some cases, people struggle to spend money because they didn’t always have it, or because they are worried that their wealth could all go away at the drop of a hat if something goes wrong. If you are afraid of running out of money and being poor again, or if you feel guilty spending because you didn’t grow up with wealth and so you’re used to frivolous purchases being treated as a problem, then these are long-held habits and beliefs that you will need to work to overcome. Sometimes, people are afraid of spending for different reasons. For example, you may just prefer to see your account balance growing, rather than shrinking, even if you are spending on things you like. Or you may feel like your success is directly linked to how big your bank account balance grows. You may also just be in the habit of being really frugal if you had to work hard to save your millions so you may find it difficult to switch your mindset from one where you save all you can to one where you get to spend some of what you’ve worked for. You should try to consider what your actual issues are with spending money so you can decide which approach to take to feel better about your situation and be able to buy things that you want. Make a budget that incorporates spending If your reluctance to spend stems from guilt about your wealth or is driven by a fear that you will run out of money in the future, then one of your best options may be to create a budget. You can make a plan to access your millions at a safe withdrawal rate (experts now recommend limiting withdrawals to 3.7% of your account balance). Then, you can work your budget around your current income. If you assign each dollar a job and assign some of those dollars to different kinds of spending that you enjoy, then you can feel more confident that you are accomplishing all of your important financial goals first and that the money you are spending is money you can truly afford to use. If you can see that you are living on a reasonable amount of money and that you can do things you enjoy while still saving and investing, this could make you feel a lot more comfortable with the things that you splurge on. Get professional advice Talking to a financial advisor can also help you to feel more at ease about letting go of your financial worries and spending on things that you want. A financial advisor can help you determine how long your money will last, and how much of it you can safely spend. They can work with you to make a comprehensive plan for both your current money management and your future goals so you can have the confidence of knowing you are doing the right things and are still able to enjoy your money. If your advisor can’t help you to feel comfortable spending even when you clearly have the money to do so, then you may also want to talk with a mental health professional who can offer you some solutions. You may just need a little bit of professional advice on overcoming your long-held habits and fears so you can enjoy what you worked for. By taking these steps, you can ensure you’re actually benefitting from the financial success you have achieved — which, of course, is the goal of earning the money in the first place. The post After Becoming A Millionaire At 44, Spending Money Is Much Harder Than I Thought appeared first on 24/7 Wall St..
UBS nominates Renata Jungo Brungger and Lila Tretikov to board of directors
UBS on Tuesday announced it has nominated Renata Jungo Brungger and Lila Tretikov for election to the board of directors at its annual general meeting in April.
Gold price forecasts hiked by UBS and Goldman Sachs
The price of gold should climb to $3,100 or even $3,200 an ounce, strategists at Goldman Sachs and UBS have predicted, from $2,900 on Tuesday morning. Goldman Sachs raised 2025 forecast to $3,100, citing higher central bank demand, while UBS mooted the possibility of to see a high of over $3,200 this year, "before prices gradually ease and stabilise at elevated levels over the next few years".
Goldman and UBS Hike Gold Forecast. Why the Rally Has Legs.
The precious metal is trading near its record high on Tuesday.
Why UBS and Goldman Sachs are boosting their gold forecasts
There's plenty of room for gold to rise, a UBS strategist says.
UBS's stock got clobbered after earnings. Deutsche Bank says it's now a buy.
UBS's stock is now worth buying, after tumbling following the Swiss banking giant's fourth-quarter earnings report, Deutsche Bank analysts say.
UBS CEO expects more clarity on capital rules in May
UBS should have more clarity on the amount of capital it will need to hold under new Swiss banking regulations currently being drawn up, CEO Sergio Ermotti said on Monday.
