newsrelease6k20243005

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: May 30,

2024

UBS Group AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

(Address of principal executive office)

Commission File Number: 1-36764

UBS AG

(Registrant's Name)

Bahnhofstrasse 45, 8001 Zurich, Switzerland

Aeschenvorstadt 1, 4051 Basel, Switzerland

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrant files or will file annual

reports under cover of Form

20-F or Form 40-

Form 20-F

☒

Form 40-F

☐

This Form 6-K consists of the news release, which appear immediately

following this page.

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG and UBS AG, News Release, 30 May

2024

Page 1

30 May 2024

Ad hoc announcement pursuant to Article 53 LR.

News Release

UBS announces changes to Group Executive Board

●

Iqbal Khan named President UBS Asia-Pacific

in addition to Co-President Global Wealth

Management (GWM)

●

Rob Karofsky named President UBS Americas and

Co-President GWM

●

George Athanasopoulos and Marco Valla become Co-Presidents of the Investment

Bank and

join UBS Group Executive Board (GEB)

●

Damian Vogel to succeed Christian Bluhm as Group Chief Risk Officer and

join GEB

●

Stefan Seiler, Head Group Human Resources and Corporate Services, to expand remit to

include Group Communications and Branding

●

Edmund Koh to become Regional Chair

Asia-Pacific

●

Naureen Hassan and Ulrich Körner to

retire from UBS

Zurich, 30 May 2024 – The next significant milestones

in UBS’s integration of Credit Suisse are the merger of

UBS AG and Credit Suisse AG, which takes place

on 31 May 2024, and the move to

a single Intermediate

Holding Company in the United States in June.

Their completion is another critical step

in our integration

journey and enables us to further harness

the power of the combined organization.

As we progress on

pursuing our long-term ambitions, it is crucial that

we increase our focus on sustainable, strategic growth,

especially in the Americas and Asia-Pacific.

execute on short- and long-term priorities,

UBS announces the following changes

to its Group Executive

Board (GEB), which are subject to final regulatory approval and effective 1 July 2024

except where otherwise

noted:

●

Iqbal Khan

will assume the role of President UBS Asia-Pacific, effective 1 September

2024, and

become Co-President GWM. He will relocate to Asia later this

summer together with his family. This is

the first time that a divisional President will be based

in Asia-Pacific.

●

Rob Karofsky

will become President UBS Americas and Co-President GWM

after having successfully

led the UBS Investment Bank as Co-President since

2018 and as President since 2021.

Iqbal and Rob will jointly manage GWM across all regions to ensure an unparalleled

global offering

for our wealth management client franchise.

In addition, in their new regional roles, Iqbal and Rob

will further leverage the capabilities of the integrated

firm across all business divisions.

●

George Athanasopoulos

and

Marco Valla

will join the GEB as Co-Presidents of the Investment

Bank. With more than 30 years in investment

banking, both bring a wealth of experience.

George

joined UBS in 2010 and held various senior

roles across the Investment Bank including Co-Head

Global Markets since 2020. In addition, he

has been Head Global Family and Institutional

Wealth

since 2022 where he has leveraged the key strengths

across UBS’s investment banking and wealth

management capabilities. Marco, who joined the firm

in 2023 as Co-Head of Global Banking, has

held increasingly senior managerial roles and advised on approximately

300 completed transactions

across various industries.

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG and UBS AG, News Release, 30 May

2024

Page 2

●

Damian Vogel

will be appointed Group Chief Risk Officer and become a member

of the GEB,

succeeding Christian Bluhm, who agreed to delay his

retirement last year to support the firm in the

first phase of the integration. Since joining

UBS in 2010, Damian has held various

risk-related

leadership roles across GWM, Personal & Corporate Banking and

region Switzerland before being

appointed Chief Risk Officer for Credit Suisse and Group Risk Control Head

of Integration in 2023.

Christian will remain with the firm in an advisory

capacity.

●

Stefan Seiler

, Head Group Human Resources and Corporate Services, will

expand his responsibility to

include Group Communications and Branding led by

Marsha Askins, who will newly report into him.

●

Ulrich Körner

, CEO of Credit Suisse AG, will step down from the GEB at

the end of June following

the merger of the parent banks UBS AG and Credit Suisse AG.

He will retire from UBS later this year.

●

Edmund Koh

, President UBS Asia-Pacific, will step-down from the GEB effective

1 September 2024.

He will remain at UBS as Regional Chair Asia-Pacific,

continuing to support our clients and businesses

in the region.

●

Naureen Hassan

, Regional President UBS Americas, has decided to retire from UBS, effective

1 July 2024. Since joining the firm in 2022, Naureen

has played an instrumental role in positioning

our business for growth, including preparation for the transition

to a single US Intermediate Holding

Company.

UBS Group CEO Sergio P.

Ermotti comments: “Since acquiring

Credit Suisse last year, we have continued to

deliver on our integration priorities while staying

close to our clients, positioning us

well for future growth. I

would like to thank Christian Bluhm, Edmund

Koh, Ulrich Körner and Naureen Hassan for

their exceptional

contributions to the firm over the years, especially

during this period of change. The appointments

to the

Group Executive Board we are announcing today will allow us

to continue to progress on our integration

journey and realize the expected synergies

and efficiencies, while putting even more emphasis on

our long-

term priorities and growth prospects, particularly in the

Americas and Asia-Pacific.”

UBS Group AG and UBS AG

Investor contact:

Switzerland:

+41-44-234 41 00

Americas:

+1-212-882 57 34

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

www.ubs.com/media

Investor Relations

Tel. +41-44-234 41 00

Media Relations

Tel. +41-44-234 85 00

UBS Group AG and UBS AG, News Release, 30 May

2024

Page 3

Cautionary statement regarding forward-looking statements

This ad hoc announcement contains statements that constitute “forward-looking statements, ”including but not limited to

management’s outlook for UBS’s financial performance, statements relating to the anticipated effect of transactions and

strategic initiatives on UBS’s business and future development and goals or intentions to achieve climate, sustainability and other

social objectives.

While these forward-looking statements represent UBS’s judgments, expectations and objectives 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.

UBS’s business and financial performance could be affected by other factors

identified in our past and future filings and reports, including those filed with the SEC.

More detailed information about those

factors is set forth in documents furnished by UBS and filings made by UBS with the SEC, including the Risk Factors filed on

Form 20-F for the UBS Group AG Annual Report for 2023, filed on 28 March 2024.

UBS is not under any obligation to (and

expressly disclaims any obligation to) update or alter its forward-looking statements, whether as a result of new information,

future events, or otherwise.

This

Form

6-K

hereby

incorporated

reference

into

(1)

each

the

registration

statements

Form

F-3 (Registration

Numbers 333-263376, 333-272539

and 333-272452),

and on

Form S-8

(Registration Numbers

333-200634;

333-200635; 333-200641;

333-200665; 333-215254;

333-215255; 333-228653;

333-230312; 333-

249143 and 333-272975), and

into each prospectus outstanding

under any of the

foregoing registration statements,

(2) any

outstanding offering

circular or