UBS Recruits JPMorgan Advisor in Connecticut as Zurich Landlord Weighs Sale
Published on 11/12/2026 at 18:31 | Editorial boerse-global.de
UBS Wealth Management USA confirmed on Tuesday that Kelley Hart has joined its Westport, Connecticut office, moving over from JPMorgan Chase. The hire is a personnel gain for the bank's US wealth arm, which has been steadily adding advisor talent.
Separately, the Norwegian sovereign wealth fund is looking to offload the Zurich Üetlihof office complex it owns, according to a report in the NZZ. Norges Bank Investment Management is named as the seller, and the aim is a deal before the end of the year. UBS is not the vendor here — it is the tenant, and its lease on the property runs until 2037. As of the Tuesday report, the sale was being pursued rather than completed.
Capital Rules in the Balance
Attention also remains fixed on the Swiss capital framework. Late last week, dpa-AFX reported on a compromise proposal that would change the valuation method applied to foreign subsidiaries. The idea could ease the regulatory burden on UBS, though it has not been adopted as a formal rule change. Bloomberg carried its own account of a possible compromise on the Swiss capital requirements.
Coverage in the media also tied the share price gain of 4 November to broader demand for bank stocks following the US midterm elections. Unconfirmed speculation about a transaction with Morgan Stanley resurfaced alongside that move, but no confirmed deal can be inferred from it. On its own numbers, UBS posted a third-quarter 2026 net profit of USD 2.7 billion and a return on hard core capital, or RoCET1, of 14.8%.
Should investors sell immediately? Or is it worth buying UBS?
Taipei Summit Draws a Crowd
In Taiwan, UBS held its first Disruptive Technology CEO Summit in Taipei on 6 November, with more than 700 investors and business leaders registered, according to the bank. The stock rose 1.1% on Tuesday to close at EUR 44.63.
New anti-money-laundering rules covering the Swiss financial sector, UBS included, are set to take effect on 1 January 2027. On the capital front, a compromise motion in the Swiss parliament could reduce the burden on UBS relative to earlier government plans, per media reports, with parliamentary debate scheduled for 23 and 24 November.
Bloomberg reported on 5 November that UBS had cut roughly 200 jobs in London as the integration of Credit Suisse nears its conclusion. The same day, the UBS Investment Bank announced coupon payments on five ETRACS notes and disclosed expected coupons on three others.
UBS at a turning point? This analysis reveals what investors need to know now.
A stake notification from UBS Group AG showed its holding in Bang & Olufsen below the 5% threshold as of 2 November — about 6.87 million shares and voting rights, equal to 4.66%.
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