© Reuters.
UBS Group AG (SIX:), a prominent player in the Capital Markets industry, has announced changes to its Latin American wealth-management leadership, following its acquisition of Credit Suisse, according to an internal memo circulated by Matthias Musch. This move has positioned UBS ahead of JPMorgan Chase (NYSE:) & Co., making it the leading wealth manager in Latin America.
Nicolas Troillet, formerly with Credit Suisse, has been appointed as UBS’s Mexico’s business-development officer and head of wealth-management client development. He will report to Marcello Chilov. Meanwhile, Andreas Mastai, another ex-Credit Suisse executive, will lead UBS wealth management in Panama, Chile, and Colombia. Mastai will coordinate market operations across Central, Andean, and Southern Latin America.
Gustavo Galvan-Duque will continue as Mexico’s country head and head of wealth management at UBS. Rainer Hensel remains in charge of UBS’s advisory office in Panama. Alberto Piedrahita will guide UBS’s representative office in Colombia.
Jeronimo Correa Braun, also previously with Credit Suisse, will direct UBS’s representative and advisory office for Chile. These appointments reflect UBS’s strategy to strengthen its position in Latin America following the integration of Credit Suisse operations.
According to InvestingPro data, UBS Group AG has a market cap of 80311.74M USD and a low P/E ratio of 2.34. The company has managed to maintain a strong return over the last three months, with a 3-month price total return of 24.17%. Despite the challenges, UBS has maintained dividend payments for 12 consecutive years, with a dividend yield of 2.21% as of 2023.
InvestingPro Tips suggest that while UBS has been aggressively buying back shares, the company’s revenue has been declining at an accelerating rate, with a revenue growth of -7.07 % as per the latest metrics. Also, two analysts have revised their earnings downwards for the upcoming period. Nonetheless, the company remains profitable with a basic EPS (Cont. Ops) of 10.64 USD.
For more insightful tips and real-time metrics about UBS Group AG, visit InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Read the full article here
