Report of Foreign Issuer (6-k)
20 February 2020 - 10:13PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________________
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
Date: February 20, 2020
UBS Group AG
Commission File Number: 1-36764
UBS AG
Commission File Number: 1-15060
(Registrants' Names)
Bahnhofstrasse 45, Zurich, Switzerland, and
Aeschenvorstadt 1, Basel, Switzerland
(Address of principal executive offices)
Indicate by check mark whether the registrants file or
will file annual reports under cover of Form 20‑F or Form 40-F.
Form 20-F x Form
40-F o
This Form 6-K consists of the new release which appears immediately
following this page.
Investor
Relations
Tel. +41-44-234 41 00
Media Relations
Tel. +41-44-234 85 00
19 February 2020
|
News Release
|
UBS
appoints Ralph Hamers as Group Chief Executive Officer
|
|
The Board of Directors of UBS
Group AG (UBS) announced today that it has named Ralph Hamers as its new
Group Chief Executive Officer, effective 1 November 2020.
Ralph Hamers will join UBS as a
member of the Group Executive Board on 1 September 2020 in order to ensure a
smooth leadership transition.
The Board made the decision to
appoint Ralph Hamers as successor of Group CEO Sergio P. Ermotti following a
thorough and rigorous selection process, reflecting the firm’s commitment to
strong corporate governance.
The UBS Board of Directors thanks Group
CEO Sergio P. Ermotti for his outstanding contribution to the firm over the
past nine years.
|
|
Zurich/Basel, 19 February 2020 – The Board of
Directors of UBS Group AG announced today it has named Ralph Hamers as its new
Group Chief Executive Officer and President of the Executive Board of UBS AG,
effective 1 November 2020. Hamers currently serves as CEO of ING Group.
UBS Group AG Board Chairman Axel A. Weber said,
"Ralph is the right CEO to lead our business into its next chapter. A
seasoned and well-respected banker with proven expertise in digital transformation,
Ralph has an impressive track record leading ING Group for more than six years.
As the industry undergoes fundamental change, Ralph is the person to lead UBS’s
continued transformation and build upon its successful strategy as the world’s
largest and only truly global wealth manager and the leading universal bank in
Switzerland, enhanced by its investment bank and asset management."
“The Board sincerely thanks Sergio for his
exceptional commitment and contributions to the success of the business since
taking office almost nine years ago. I would personally like to thank Sergio
for our partnership during this entire period and for his constructive
collaboration during the succession process.” Weber continued, “Sergio led the
transformation of UBS in the wake of the global financial crisis. Today, UBS is
the world’s leading wealth manager and the leading bank in Switzerland,
supported by a global investment bank with world-leading equity research
capability, and a large-scale and diversified asset manager with a strong focus
on sustainable investing. During Sergio’s tenure, UBS created substantial value
for our shareholders, as tangible book value including dividend distribution
has grown at 6% annually and shareholders have received over USD 15 billion
dividends and USD 1.5 billion in share-buybacks. We are grateful to Sergio for
the strong leadership he provided as CEO of UBS, adding a successful chapter to
the history of this more-than-150-year-old bank.”
Hamers joined ING Group in 1991. During his
successful career, he progressed through a series of roles across business
segments and geographies before becoming CEO in 2013. Under his leadership, ING
Group has implemented a fundamental shift in its operating model and is now
considered one of the best examples of
UBS Group AG and
UBS AG, News Release, 19 February-2020 Page
1
of 2
Investor
Relations
Tel. +41-44-234 41 00
Media Relations
Tel. +41-44-234 85 00
digital innovation in the banking sector. Hamers
holds a Master of Science in Business Econometrics and Operations Research from
Tilburg University in the Netherlands and is Chairman of the European Banking
Group, the leading European banking association.
Hamers said, “I’m honored by the opportunity to
lead this great institution. I have long admired the firm’s transformation
under the leadership of Axel and Sergio. The firm has an outstanding global client
franchise across its business divisions, all of which are underpinned by the
incredibly strong UBS brand. I’m looking forward to working with the senior
management team, the Board of Directors and all of UBS’s employees to further
strengthen the franchise and serve UBS’s clients to achieve their goals.”
Sergio P. Ermotti said, “It has been a privilege
to lead UBS. I’d like to thank all my colleagues, past and present, for their
dedication to serving our clients and making UBS what it is today. After nearly
a decade as CEO, now is the right time to write my next chapter. UBS is in
great shape, enjoys maximum strategic flexibility and is well positioned for
sustainable growth. In the months ahead, my colleagues and I will continue to
execute our strategy and deliver against our ambitious targets, and we look
forward to working with Ralph to ensure a seamless transition.”
Investor contact
Switzerland: +41-44-234 41 00
Media contact
Switzerland: +41-44-234 85 00
UK: +44-207-567 47 14
Americas: +1-212-882 58 58
APAC: +852-297-1 82 00
Notice to investors
This document and the information
contained herein are provided solely for information purposes, and are not to
be construed as a solicitation of an offer to buy or sell any securities or
other financial instruments in Switzerland, the United States or any other
jurisdiction. No investment decision relating to securities of or relating to
UBS Group AG, UBS AG or their affiliates should be made on the basis of this
document. Refer to UBS’s fourth quarter 2019 report and its Annual Report on
Form 20-F for the year ended 31 December 2018 for additional information. These
reports are available at www.ubs.com/investors.
Cautionary statement regarding forward-looking
statements
This document contains statements that
constitute forward-looking statements. While these statements represent UBS’s
judgments and expectations concerning the matters described, a number of risks,
uncertainties and other important factors could cause actual developments and
results to differ materially from UBS’s expectations. Additional information
about those factors is set forth in documents furnished and filings made by UBS
with the US Securities and Exchange Commission, including the fourth quarter
2019 report and the Annual Report on Form 20-F for the year ended 31 December
2018. UBS undertakes no obligation to update the information contained herein.
UBS Group AG and
UBS AG, News Release, 19 February-2020 Page
2
of 2
This
Form 6-K is hereby incorporated by reference into (1) each of the registration
statements of UBS AG on Form F-3 (Registration Number 333-225551) and on Form
F-4 (Registration Number 333-234705), and of UBS Group AG on Form S-8
(Registration Numbers 333-200634; 333-200635; 333-200641; 333-200665;
333-215254; 333-215255; 333-228653; and 333-230312), and into each prospectus
outstanding under any of the foregoing registration statements, (2) any
outstanding offering circular or similar document issued or authorized by UBS
AG that incorporates by reference any Form 6-K’s of UBS AG that are
incorporated into its registration statements filed with the SEC, and (3) the
base prospectus of Corporate Asset Backed Corporation (“CABCO”) dated June 23,
2004 (Registration Number 333-111572), the Form 8-K of CABCO filed and dated
June 23, 2004 (SEC File Number 001-13444), and the Prospectus Supplements
relating to the CABCO Series 2004-101 Trust dated May 10, 2004 and May 17, 2004
(Registration Number 033-91744 and 033-91744-05).
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrants have duly
caused this report to be signed on their behalf by the undersigned, thereunto
duly authorized.
UBS Group AG
By: _/s/ David Kelly______________
Name: David Kelly
Title: Managing Director
By: _/s/ Ella Campi ______________
Name: Ella Campi
Title: Executive Director
UBS AG
By: _/s/ David Kelly______________
Name: David Kelly
Title: Managing Director
By: _/s/ Ella Campi ______________
Name: Ella Campi
Title: Executive Director
Date: February 20, 2020
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