2024 in retrospect

UBS launches Hong Kong’s first-ever investment-grade tokenized warrant on the Ethereum public blockchain network. This innovative product utilizes the on-chain issuance product framework offered by UBS Tokenize, the firm’s in-house tokenization service.

UBS builds on the existing partnership between Credit Suisse and the University of St. Gallen (HSG) and will also become the new HSG Campus Bank. Promoting innovation, entrepreneurship and young talent is at the heart of the collaboration.

UBS and Apollo agree that Apollo will purchase USD 8 billion of senior secured financing facilities from UBS, supporting UBS's strategy to simplify its Non-Core and Legacy portfolio. As a result, UBS realizes a net gain of USD 0.3 billion in Q1 2024, while Credit Suisse AG expects a net loss of USD 0.9 billion due to different accounting adjustments and provisions.

UBS will relocate to a cutting-edge, sustainable office at the International Gateway Centre in West Kowloon in 2026. Designed by Zaha Hadid Architects, it will meet top sustainability standards as well as a rooftop garden and wellness elements to support employees’ well-being.

UBS Group AG announces a new share repurchase program of up to USD 2 billion for 2024, commencing after the merger of UBS AG and Credit Suisse AG is completed. By end-2024, the bank bought back USD 1bn of shares. We are maintaining our ambition for share repurchases in 2026 to exceed full year 2022 levels.

Together with the Swiss real estate service provider Wincasa, UBS launched a new Switzerland-wide modular advisory solution that accompanies owners of investment properties throughout the entire renovation project.

UBS Global Wealth Management launched the engagement fund in a collaborative approach with Rockefeller Asset Management. The UBS Rockefeller Ocean Engagement Fund, an actively managed equity fund, is looking to provide financial returns and positive impact by engaging with companies that address ocean health issues.

UBS Group AG has completed its merger with Credit Suisse AG, deregistering Credit Suisse AG in the Commercial Register of the Canton of Zurich. UBS inherits all rights and obligations of Credit Suisse, including debt. Clients will transition to UBS platforms while temporarily using existing Credit Suisse tools.

UBS and Swisscom establish the Deep Tech Nation Switzerland Foundation to boost Swiss startups and investors in the deep tech sector. The aim is to mobilize CHF 50 billion over the next decade, strengthening Switzerland’s innovative capacity and competitiveness.

UBS Global Wealth Management's new CIO report highlights the investment surge driven by generative AI. It outlines a value chain-led framework to spot AI opportunities, explains AI's workings, and examines its effects on the global economy, sustainable development, and individual sectors.

UBS has completed the merger of its Swiss entities on July 1, 2024. This significant move marks an important milestone in the integration of UBS and Credit Suisse. The merger was crucial as it enables the migration of more than 1 million clients in Switzerland.

Global wealth is on the rise, with 2023 marking a strong recovery after a dip in 2022. Wealth growth hit 4.2%, driven by Europe, the Middle East, Africa, and Asia-Pacific. In 2023, adults in EMEA were the wealthiest on average, followed by APAC and the Americas, but their average wealth grew at the slowest pace since 2008, while APAC recorded the fastest wealth growth overall.

UBS has been honored with eight awards at the Euromoney Awards for Excellence 2024; “World’s Best Bank”, “Switzerland's Best Bank”, “Western Europe’s Best Bank”, “Switzerland’s Best Investment Bank”, “Indonesia's Best Investment Bank, “Malaysia's Best International Investment Bank”, “New Zealand's Best Investment Bank”, and “The Philippines' Best Investment Bank.” The awards acknowledge UBS’s robust financial performance, its consistent achievement of shareholder targets, and its steadfast commitment to its clients.

UBS Asset Management completes its merger with Credit Suisse Asset Management (Schweiz) AG. The result is UBS Asset Management Switzerland AG, effective 30 August 2024. This follows key legal entity transactions across the US, EMEA, and APAC regions, bringing together our businesses to enhance our client offering and further scale capabilities.

UBS renews its partnership with Mercedes-AMG PETRONAS Formula One Team, celebrating shared values of innovation, talent, and teamwork, which have led to extraordinary achievements since 2011, including seven Drivers’ and eight Constructors’ World Championships.

UBS's Investor Watch survey shows a split among U.S. investors and business owners on the presidential candidates' suitability for the economy: 49% of investors back Harris, 51% Trump. Meanwhile, 55% of business owners favor Trump for handling taxes and immigration.

UBS’s International Pension Gap Index compared retirement systems across 25 markets based on the voluntary savings efforts required from its participants. It showed that private savings are crucial to maintain an accustomed lifestyle in retirement in many systems, while also highlighting the importance of retirement planning.

The new UBS Residential Attractiveness Indicator revealed mid-sized Swiss centers like Locarno, Vevey, and Aarau as top living choices for families, measuring local infrastructure, leisure activities, and housing costs.

UBS Asset Management introduces uMINT, the UBS USD Money Market Investment Fund Token, leveraging the Ethereum blockchain. This innovative financial product caters to the growing demand for tokenized assets in APAC, offering investors tokenized access to UBS's high-quality money market fund based on a conservative, risk-managed framework.

Since the start of 2020, markets have experienced a “roaring 20s” with five years of strong performance for global equity market indices, technological breakthroughs, and stronger-than-expected US economic growth. In its outlook, UBS's Chief Investment Office outlined key 2025 trends, that will shape the next stage of the decade including US political change, innovations, and lower interest rates, despite past global disruptions.

The UBS Billionaire Ambitions Report showed that billionaires outperformed global equity markets over the past 10 years, with their total wealth increasing 121% to USD 14 trillion while the number of billionaires increased to 2,682 from 1,757. The wealth of tech billionaires increased at the fastest pace.

UBS Optimus Foundation marks its 25th anniversary with a USD 25 million donation from UBS. This donation provides USD 10 million for direct funding and USD 15 million to match clients’ and employees’ contributions. The funds support initiatives in health, education and climate. In the past decade alone, the foundation and its partners have raised over USD 1.5 billion, helping nearly 35 million people.