UBS Global Wealth Management US has strengthened its Bellevue, Washington office by hiring veteran advisor Jeff Miller, who brings over 18 years of wealth management experience from Morgan Stanley. Reporting to Market Executive Robert Giordano, Miller will lead The Miller Group alongside Registered Client Associate Diana Mendoza (15 years’ experience) and Client Relationship Manager Kelley Miller, with Wealth Strategy Associate Laura Besaw joining after three years at UBS. The addition underscores UBS’s commitment to personalized, goal-based advice for high-net-worth families, entrepreneurs and corporate executives through its $6.9 trillion global wealth platform.

UBS has moved significantly closer to converting its U.S. wealth management operations into a full national bank after receiving conditional approval from the Office of the Comptroller of the Currency. The charter would grant UBS Federal Savings Bank enhanced deposit services and lending capabilities, enabling the firm to integrate its U.S. brokerage, advisory and banking products more tightly. UBS CEO Sergio Ermotti has emphasized that this step aligns with the bank’s strategy to offer seamless cross-border solutions and to tap into the $20 trillion U.S. wealth market more effectively.

In a recent equity research note, UBS analysts downgraded General Electric HealthCare stock, citing underappreciated risks from intensifying competition in China and the prospect of a generic rival to a key imaging agent. While acknowledging GE HealthCare’s strong service franchise, UBS highlighted that early warning signs could emerge from narrower margins and slower capital equipment orders, particularly in emerging markets where pricing pressure is acute. The note advises investors to reevaluate exposure given potential erosion of market share over the next two to three years.

UBS commodity strategists forecast additional gains for gold after bullion delivered a 65% rally in 2025 and has already climbed roughly 7% so far this year. Analysts point to persistent U.S. fiscal deficits, slowing global growth and renewed tensions in the Middle East as key drivers that could push gold past its most recent record high. The team highlights that central bank net purchases and increased interest from sovereign wealth funds could sustain demand, even if interest rates remain elevated.