Insights and perspectives from our Chairman and Group CEO

Chairman, Colm Kelleher, and Group CEO, Sergio P. Ermotti, weigh in on a defining year for UBS, our performance and future.

“The acquisition of Credit Suisse has accelerated – not changed – our existing strategy. We are confident it will create enduring value for our shareholders.”

Colm Kelleher, Chairman

“We are off to a strong start in enabling Credit Suisse’s market-competitive franchises and talented people to flourish and make us even stronger. With closing in June 2023, we began swiftly executing our integration plans, which we aim to substantially complete by the end of 2026.”

Sergio P. Ermotti, Group CEO

Our Leadership

Group Executive Board

Across business regions, divisions, and functions: meet our most senior leaders.

Board of Directors

Responsible for the overall direction, supervision and control of the Group and its management, as well as for supervising compliance with applicable laws, rules and regulations.

Numbers and achievements

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January

More than 3000 investors and corporate representatives at UBS’s Greater China Conference

UBS’s flagship event in Asia, the 23rd edition of the Greater China Conference, took place in Hong Kong and explored the big themes shaping China’s future. The panels tackled topics including China’s reopening and recovery, property downturn, global macro outlook, US-China relations and capital market opening up.

UBS presents ART SG – Southeast Asia’s largest ever fair

The first edition of ART SG at Marina Bay Sands Expo and Convention Centre in Singapore opened its doors to the public with the participations of over 160 leading galleries. UBS is proud to be the Founding and Lead Partner of ART SG.

February

UBS included in Bloomberg’s Gender-Equality Index

UBS has been included for the eighth consecutive year in the 2023 Bloomberg Gender-Equality Index a modified market capitalization-weighted index that aims to track the performance of public companies committed to transparency in gender-data reporting.

UBS commits USD 3 million to Black Innovation Alliance

We announced a three-year, USD 3 million commitment to Black Innovation Alliance to help build a more inclusive entrepreneurial ecosystem that equips Black founders with access to resources and support to build high-growth businesses.

March

UBS to acquire Credit Suisse

On 19 March UBS announces its intention to take over the globally system relevant Swiss bank Credit Suisse.

UBS reappoints Sergio P. Ermotti as new Group CEO

The Board of Directors made the decision to appoint Sergio P. Ermotti as Chief Executive Officer in light of UBS’s new priorities following its planned acquisition of Credit Suisse.

April

The Art Basel and UBS publish the Global Art Market Report 2023

The seventh edition of the yearly report provides a comprehensive, macro-economic analysis of the state of the global art market in 2022, which exceeded pre-pandemic levels, experiencing 3% growth in sales to an estimated USD 67.8 billion.

AGM 2023

The 2023 Annual General Meeting of UBS Group AG in Basel was the first after three years of being held online. Chairman Colm Kelleher on the event only two weeks after the acquisition of Credit Suisse.

May

UBS key4 has seen rapid growth in the first year

Since the launch of UBS key4, the purely digital product line a year ago has been continuously expanding and has more than 175,000 clients. The number of accounts being opened online among private clients has tripled.

Outlined new operating model and leadership team

Only two months after the announcement of the planned acquisition of Credit Suisse, UBS outlines its new operating model and leadership team and anticipates that the legal close will take place in June.

June

UBS and Swiss government sign Loss Protection Agreement

UBS Group AG and the Swiss government have signed a Loss Protection Agreement that will become effective upon completion of the acquisition of Credit Suisse.

UBS completes Credit Suisse acquisition

12 June 2023 marks the last trading day of Credit Suisse Group AG shares. UBS completed the acquisition of Credit Suisse. Credit Suisse Group AG was merged into UBS Group AG and the combined entity started operating as a consolidated banking group.

UBS inaugurates Future Now APAC Conference

The first UBS Future-Now APAC Conference attracts more than 800 investors, industry experts and founders, UBS specialists, and companies from across the region. The conference is set to explore the trends that matter today and in the years to come.

July

UBS and Numarics plan to form strategic partnership

Together with Numarics, we intend to facilitate everyday life of small and medium-sized enterprises with digital financial and administrative solutions and take a further step towards a fully integrated ecosystem for corporate clients in Switzerland.

Two international impact investors decide to invest in SDG Outcomes

British International Investment, the UK’s development finance institution, and the U.S. International Development Finance Corporation have agreed to be anchor investors for a pioneering USD 100m SDG blended finance initiative developed by UBS Optimus Foundation and Bridges Outcomes Partnerships.

August

UBS Group AG voluntarily terminates Loss Protection Agreement and Public Liquidity Backstop

UBS voluntarily terminates the CHF 9 billion Loss Protection Agreement with the Swiss government following a comprehensive assessment of the designated portfolio of Credit Suisse non-core assets, including severe stress loss scenarios. In addition UBS has also decided to voluntarily terminate the Public Liquidity Backstop with the Swiss National Bank of up to CHF 100 billion, guaranteed by the Swiss government. Further, Credit Suisse has fully repaid the Emergency Liquidity Assistance Plus (ELA+) loan.

UBS resolves RMBS matter with US Department of Justice

UBS has reached an agreement with the United States Department of Justice to settle a legacy matter from 2006-2007, related to the issuance, underwriting and sale of residential mortgage-backed securities (RMBS).

TIME and UBS launch multi-day event series in Martha's Vineyard

The TIME Impact House – a dedicated space to convene and facilitate meaningful action – debuts in Martha’s Vineyard. The event will convene leaders committed to social impact from across business, philanthropy, technology, entertainment, education, sports, the arts and more.

September

UBS enters into a Memorandum of Understanding with Industrial and Commercial Bank of China

The two financial institutions will explore strategic collaborations across asset management, wealth management, investment and corporate banking, across Mainland China, cross-border and overseas markets.

October

UBS leads Euromoney ranking of foreign exchange market

Cutting-edge technology, innovative features, unique data and client feedback put UBS to the top of the single-dealer currency trading rankings.

Changes to the Boards of Directors of UBS Switzerland AG and Credit Suisse (Schweiz) AG

The Boards of Directors of UBS Switzerland AG and Credit Suisse (Schweiz) AG were restructured and harmonized effective in November 2023 following the plans to fully integrate the Swiss business of Credit Suisse into UBS. Roger von Mentlen has been appointed Chairman of both Boards.

Rethink, rebuild, reimagine – Laying the foundation for better buildings

The latest white paper from UBS’s Sustainability and Impact Institute argues in its new white paper that the world’s buildings, responsible for 37% of all greenhouse gas emissions, must undergo an unprecedented retrofitting ramp-up if the Paris Climate Agreement 2050 net zero targets are to be met.

November

UBS, SBI and DBS completed world’s first cross-border repo on public blockchain

The pioneer transaction automatically settled a live repurchase transaction (repo), digital bond purchase and redemption using regulated digital payment tokens, across regulated entities in Japan, Singapore and Switzerland. This transaction demonstrated benefits for financial markets, such as: real-time 24/7 settlement, operational and capital efficiency while ensuring compliance and security requirements.

UBS Billionaire Ambitions Report 2023: The great wealth transfer

For the first time in nine editions of the report, billionaires have accumulated more wealth through inheritance than entrepreneurship, indicating that the great wealth transfer is gaining momentum.

December

UBS to be main partner of the Swiss Football Association

UBS to continue partnership with the SFA until at least 2028. As before with Credit Swiss, half of the contribution will flow directly into young talent promotion. Women’s and men's teams to receive equal premiums.

EPFL and UBS enter into strategic partnership to foster young talents in STEM subjects

The École Polytechnique Fédérale de Lausanne (EPFL) and UBS are launching a strategic partnership to promote innovation and young entrepreneurship. The cooperation also focuses on expanding access to education in STEM subjects for children and young people and promoting young talent.

Ana Mahony, Founder and CEO at Addition Wealth, wins the UBS Female Founder Award 2023

The award shines a spotlight on early-stage, women-led companies who are breaking boundaries in the world of financial and enterprise technology.

Thriving together

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Helping clients to achieve their financial goals is the essence of what we do. Understanding our clients’ needs and expectations enables us to best serve their interests and to create value for them. With the acquisition of the Credit Suisse Group in 2023, our client offering, expertise and geographical reach have expanded significantly.


The wealth management businesses of both firms have largely complementary footprints across locations and client segments, that support one of the core pillars of our client value proposition in Global Wealth Management: the ability to serve clients regardless of where they are and what they need.

We are the leading bank in Switzerland, leveraging the strength of the newly combined Swiss business to broaden our services and to promote innovation to our clients. The legal merger of the two entities, Credit Suisse (Schweiz) AG and UBS Switzerland AG, is expected to be completed in the third quarter of 2024, with the Swiss Bank (Credit Suisse) division being integrated into Personal & Corporate Banking..

In Asset Management we are bringing together our highly complementary businesses and enhancing the value we provide to clients through expanded capabilities across key asset classes and growth markets.

In the Investment Bank the acquisition deepens our capabilities in core products and services, enabling us to deliver services to a broader institutional- and corporate -client base, while bringing us critical mass in key markets.

In 2023, we acquired Credit Suisse Group, a global systemically important financial institution and a major wealth manager headquartered in Switzerland that was founded in 1856. The acquisition followed a request from the Swiss Federal Department of Finance, the Swiss National Bank and the Swiss Financial Market Supervisory Authority (FINMA) to both firms to duly consider the acquisition in order to restore necessary confidence in the stability of the Swiss economy and banking system and to serve the best interests of shareholders and stakeholders. The transaction solidified our primacy as a leading and truly global wealth manager and the leading bank in Switzerland, with stronger asset management and investment bank franchises.

The general meeting of shareholders is the supreme corporate body.

Our firm has elevated our services, products and client relationships to a craft that distinguishes and differentiates us in the market. It’s about precision, skill and premium quality that conveys our Swiss heritage. Beyond just the results we achieve, our approach is defined by the very process that it takes to get there. We bring together perspectives, ideas and expertise from across our diverse, global ecosystem. We draw on our collective, interdisciplinary knowledge to serve our clients, whoever they are and whatever their needs.

Reporting Suite and highlights

Annual Report 2023

Our Annual Report provides comprehensive information about the firm, its business, governance and financial performance, as well as information about compensation of senior management and the Board of Directors (executive and non-executive members). It contains both audited and nonaudited information.

PDF downloads and other links:

Sustainability Report 2023

In the Sustainability Report we report about our sustainability approach and activities, consistently applying our information policy and disclosure principles. Additionally, we set out what climate and nature mean to us in terms of our strategy and its impact on planet, people and partnerships, and shows how we’re tracking our progress through metrics and targets.

PDF downloads and other links:

Archive

Our archive provides an overview of our past reports.