"UBS Announces $2 Billion Share Buyback Program"

Swiss banking giant UBS has announced a new share repurchase program of up to $2 billion, with $1 billion expected to be repurchased this year. The buyback follows the completion of a 2022 program during which 298.5 million shares were purchased. UBS is currently integrating Credit Suisse's business and reported a second consecutive quarterly loss in February, but continues to deliver strong underlying operating profits. Former CEO Sergio Ermotti returned for a second spell as CEO, earning 14.4 million Swiss francs in 2023.