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Related parties
 12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Related Party Explanatory
Note
 
30
 
Related parties
UBS defines related parties as associates (entities that
 
are significantly influenced by
 
UBS), joint ventures (entities in which
UBS shares control with another party), post
 
-employment benefit plans for UBS employees, key management personnel,
close
 
family
 
members
 
of
 
key
 
management
 
personnel
 
and
 
entities
 
that
 
are,
 
directly
 
or
 
indirectly,
 
controlled
 
or
 
jointly
controlled
 
by
 
key
 
management
 
personnel
 
or
 
their
 
close
 
family
 
members.
 
Key
 
management
 
personnel
 
is
 
defined
 
as
members of the Board of Directors
 
(the BoD) and
 
Group Executive Board (the
 
GEB).
 
a) Remuneration of key
 
management personnel
The
 
Vice Chairman
 
of
 
the
 
BoD
 
has
 
a
 
specific management
 
employment
 
contract
 
and
 
receives pension
 
benefits
 
upon
retirement. Total
 
remuneration
 
of the Chairman
 
and the Vice Chairman
 
of the BoD and
 
all GEB members
 
is included in
the table below.
Remuneration of key management
 
personnel
USD m, except where indicated
31.12.22
31.12.21
31.12.20
Base salaries and other cash payments
1
27
31
33
Incentive awards – cash
2
17
17
18
Annual incentive award under DCCP
25
26
27
Employer’s contributions to retirement
 
benefit plans
2
3
3
Benefits in kind, fringe benefits (at market
 
value)
1
1
1
Share-based compensation
3
45
45
47
Total
118
124
129
Total (CHF m)
4
114
113
121
1 May include role-based
 
allowances in line
 
with market practice
 
and regulatory requirements.
 
2 The cash
 
portion may also include
 
blocked shares in
 
line with regulatory
 
requirements.
 
3 Compensation
 
expense
is based on the
 
share price on
 
grant date
 
taking into
 
account perform
 
ance conditions.
 
Refer to Note
 
27 for
 
more information.
 
For GEB
 
members, share
 
-based compensation
 
for 2022,
 
2021 and 2020
 
was entirely
composed of LTIP
 
awards. For the
 
Chairman of the BoD the share
 
-based compensation for 2022,
 
2021 and 2020 was
 
entirely composed of
 
UBS shares.
 
4 Swiss franc amounts disclosed
 
represent the respective
 
US
dollar amounts translated at
 
the applicable performance
 
award currency exchange
 
rates (2022: USD /
 
CHF
0.96
; 2021: USD / CHF
0.92
; 2020: USD / CHF
0.94
).
The independent members of the BoD
 
,
 
including the Chairman, do not have employment or service contracts
 
with UBS,
and thus are not entitled to benefits upon termination of their service on the BoD. Payments to
 
these individuals for their
services as independent
 
members of the
 
BoD amounted
 
to USD
11.1
m (CHF
10.7
m) in 2022,
 
USD
7.5
m (CHF
6.9
m) in
2021 and USD
7.0
m (CHF
6.6
m) in 2020.
 
b) Equity holdings of key management
 
personnel
Equity holdings of key management
 
personnel
1
31.12.22
31.12.21
Number of UBS Group AG shares held by members of the
 
BoD, GEB and parties closely
 
linked to them
2
3,009,686
4,597,006
1 No options were held in
 
2022 and 2021
 
by non-independent members
 
of the BoD and any GEB
 
member or any of
 
its related parties.
 
2 Excludes shares
 
granted under variable
 
compensation plans with
 
forfeiture
provisions.
Of the share totals above, no shares
 
were held by close family members of key management personnel
 
on 31 December
2022 and 31 December 2021. No shares were held
 
by entities that
 
are directly or indirectly controlled or jointly controlled
by
 
key
 
management
 
personnel
 
or
 
their
 
close
 
family members
 
on
 
31 December
 
2022
 
and
 
31 December
 
2021.
 
As
 
of
31 December
 
2022,
 
no
 
member of
 
the BoD
 
or GEB
 
was the
 
beneficial owner
 
of more
 
than 1%
 
of
 
the shares
 
in UBS
Group AG.
 
 
c) Loans, advances and mortgages to
 
key management
 
personnel
The non
 
-independent members
 
of the BoD
 
and GEB members
 
are granted
 
loans, fixed
 
advances and
 
mortgages in
 
the
ordinary
 
course
 
of
 
business
 
on
 
substantially
 
the
 
same
 
terms
 
and
 
conditions
 
that
 
are
 
available
 
to
 
other
 
employees,
including interest rates and collateral,
 
and neither involve more than the
 
normal risk of collectability
 
nor contain any other
unfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of
business at general market conditions.
Movements in the loan, advances and
 
mortgage balances are as follows.
Loans, advances and mortgages
 
to key management personnel
1
USD m, except where indicated
2022
2021
Balance at the beginning of the year
34
38
Additions
8
11
Reductions
(9)
(15)
Balance at the end of the year
2
33
34
Balance at the end of the year (CHF
 
m)
2, 3
31
31
1 All loans are secured loans.
 
2 There were no
 
unused uncommitted credit
 
facilities as of 31 December
 
2022 and 31 December
 
2021.
 
3 Swiss franc amounts
 
disclosed represent the respective
 
US dollar amounts
translated at the relevant year-end
 
closing exchange
 
rate.
d) Other related-party
 
transactions with entities controlled by
 
key management personnel
In 202
 
2
 
and
 
2021, UBS
 
did
 
not enter
 
into transactions
 
with
 
entities that
 
are
 
directly
 
or
 
indirectly
 
controlled
 
or jointly
controlled
 
by
 
UBS’s
 
key
 
management
personnel
 
or
 
their
 
close
 
family
 
members
 
and
 
as
 
of
 
31
 
December
 
202
2
,
31
 
December
 
20
21
 
and
 
31
 
December
 
20
20
,
 
there
 
were
 
no
 
outstanding
 
balances
 
related
 
to
 
such
 
transactions.
Furthermore, in 202
 
2
 
and 2021, entities controlled by key management personnel
 
did not sell any goods or provide
 
any
services to
 
UBS,
 
and therefore
 
did
 
not receive
 
any fees
 
from
 
UBS.
 
UBS
 
also did
 
not provide
 
services to
 
such entities
 
in
2022
 
and 2021, and therefore also received
 
no fees.
 
e) Transactions with associates and
 
joint ventures
Loans to and outstanding
 
receivables from associates and joint
 
ventures
USD m
2022
2021
Carrying amount at the beginning of the year
251
630
Additions
402
133
Reductions
(438)
(497)
Foreign currency translation
1
(14)
Carrying amount at the end of the year
 
217
251
of which: unsecured loans and receivables
209
243
Other transactions with associates and joint
 
ventures
As of or for the year ended
USD m
31.12.22
31.12.21
Payments to associates and joint ventures for goods
 
and services received
138
157
Fees received for services provided to
 
associates and joint ventures
4
104
Liabilities to associates and joint ventures
90
127
Commitments and contingent liabilities to associates and
 
joint ventures
7
7
Refer to Note 28
 
for an overview
 
of investments
 
in associates and
 
joint ventures
UBS AG  
Entity [Table]  
Disclosure Of Related Party Explanatory
Note
 
30
 
Related parties
UBS AG
 
defines related
 
parties as associates
 
(entities that
 
are significantly
 
influenced by
 
UBS), joint
 
ventures (entities in
which UBS shares control
 
with another party), post-employment benefit
 
plans for UBS AG employees,
 
key management
personnel, close family members of
 
key management personnel and
 
entities that are,
 
directly or indirectly,
 
controlled or
jointly controlled by key management personnel or their close family members. Key management personnel is defined as
members of the Board of Directors
 
(the BoD) and
 
Executive Board (the EB).
 
a) Remuneration of key
 
management personnel
The
 
Vice Chairman
 
of
 
the
 
BoD
 
has
 
a
 
specific management
 
employment
 
contract
 
and
 
receives pension
 
benefits
 
upon
retirement. Total
 
remuneration of the Chairman and the Vice Chairman of the BoD and all EB members is
 
included in the
table below.
Remuneration of key managem
 
ent personnel
USD m, except where indicated
31.12.22
31.12.21
31.12.20
Base salaries and other cash payments
1
26
30
31
Incentive awards – cash
2
16
17
17
Annual incentive award under DCCP
23
26
26
Employer’s contributions to retirement
 
benefit plans
2
2
2
Benefits in kind, fringe benefits (at market
 
value)
1
1
1
Share-based compensation
3
42
45
45
Total
110
122
122
Total (CHF m)
4
106
112
115
1 May include role-based
 
allowances in line with
 
market practice
 
and regulatory requirements.
 
2 The cash
 
portion may also include
 
blocked shares in line with
 
regulatory requirements.
 
3 Compensation expense
is based on
 
the share
 
price on
 
grant date
 
taking into
 
account performance
 
conditions.
 
Refer to
 
Note 27 for
 
more information.
 
For EB
 
members, share
 
-based compensation
 
for 2022,
 
2021 and
 
2020 was
 
entirely
composed of LTIP
 
awards.
 
For the Chairman
 
of the BoD,
 
the share-based compensation
 
for 2022, 2021
 
and 2020 was
 
entirely composed
 
of UBS shares.
 
4 Swiss franc
 
amounts disclosed
 
represent the respective
US dollar amounts translated
 
at the applicable performance
 
award currency exchange
 
rates (2022: USD / CHF
0.96
; 2021: USD / CHF
0.92
; 2020: USD /
 
CHF
0.94
).
The independent
 
members of the BoD
 
,
 
including the Chairman, do
 
not have employment
 
or service contracts with
 
UBS
AG, and thus are not entitled to benefits upon
 
termination of their service on the BoD. Payments to these individuals for
their services as independent members of
 
the BoD amounted to USD
11.1
m (CHF
10.7
m) in 2022, USD
7.5
m (CHF
6.9
m)
in 2021 and USD
7.0
m (CHF
6.6
m) in 2020.
 
b) Equity holdings of key management
 
personnel
Equity holdings of key management
 
personnel
1
31.12.22
31.12.21
Number of UBS Group AG shares held by members of the
 
BoD, EB and parties closely linked
 
to them
2
2,443,580
4,175,515
1 No options were
 
held in 2022 and
 
2021 by non-independent
 
members of the BoD
 
and any EB
 
member or any
 
of its related parties.
 
2 Excludes shares
 
granted under
 
variable compensation
 
plans with forfeiture
provisions.
Of the share totals above, no shares
 
were held by close family members of key management personnel
 
on 31 December
2022 and 31 December 2021.
 
No shares were held by
 
entities that are directly
 
or indirectly controlled or jointly controlled
by
 
key
 
management
 
personnel
 
or
 
their
 
close
 
family members
 
on
 
31 December
 
2022
 
and
 
31 December
 
2021.
 
As
 
of
31 December 2022,
 
no member of
 
the BoD or EB was the beneficial owner of more than 1% of the
 
shares in UBS Group
AG.
 
c) Loans, advances and mortgages to
 
key management
 
personnel
The non
 
-independent
 
members
 
of the
 
BoD
 
and
 
EB members
 
are granted
 
loans,
 
fixed
 
advances and
 
mortgages in
 
the
ordinary
 
course
 
of
 
business
 
on
 
substantially
 
the
 
same
 
terms
 
and
 
conditions
 
that
 
are
 
available
 
to
 
other
 
employees,
including interest rates and collateral,
 
and neither involve more than the
 
normal risk of collectability
 
nor contain any other
unfavorable features for the firm. Independent BoD members are granted loans and mortgages in the ordinary course of
business at general market conditions.
Movements in the loan, advances and
 
mortgage balances are as follows.
Loans, advances and mortgages
 
to key management personnel
1
USD m, except where indicated
2022
2021
Balance at the beginning of the year
28
31
Additions
8
11
Reductions
(7)
(15)
Balance at the end of the year
2
28
28
Balance at the end of the year (CHF m)
2, 3
26
25
1 All loans are secured loans.
 
2 There were no
 
unused uncommitted credit
 
facilities as of 31 December
 
2022 and 31 December
 
2021.
 
3 Swiss franc amounts
 
disclosed represent the respective
 
US dollar amounts
translated at the relevant year-end
 
closing exchange
 
rate.
d) Other related-party
 
transactions with entities controlled by
 
key management personnel
In 2022
 
and 2021, UBS AG did not enter into transactions
 
with entities that are directly or
 
indirectly controlled
 
or jointly
controlled
 
by
 
UBS
 
AG’s
 
key
 
management
 
personnel
 
or
 
their
 
close
 
family
 
members
 
and
 
as
 
of
 
31 December
 
2022,
31
 
December
 
20
21
 
and
 
31
 
December
 
20
20
,
 
there
 
were
 
no
 
outstanding
 
balances
 
related
 
to
 
such
 
transactions.
Furthermore, in 202
 
2
 
and 2021, entities controlled by key management personnel
 
did not sell any goods or provide
 
any
services to UBS
 
AG, and
 
therefore did
 
not receive any fees
 
from UBS
 
AG. UBS
 
AG also
 
did not provide
 
services to such
entities in 2022
 
and 2021, and therefore also received
 
no fees.
 
e) Transactions with associates and
 
joint ventures
Loans to and outstanding
 
receivables from associates and joint
 
ventures
USD m
2022
2021
Carrying amount at the beginning of the year
251
630
Additions
402
133
Reductions
(438)
(497)
Foreign currency translation
1
(14)
Carrying amount at the end of the year
 
217
251
of which: unsecured loans and receivables
209
243
Other transactions with associates and joint
 
ventures
As of or for the year ended
USD m
31.12.22
31.12.21
Payments to associates and joint ventures for goods
 
and services received
138
157
Fees received for services provided to
 
associates and joint ventures
4
104
Liabilities to associates and joint ventures
90
127
Commitments and contingent liabilities to associates and
 
joint ventures
7
7
Refer to Note 28
 
for an overview
 
of investments
 
in associates and
 
joint ventures
 
f) Receivables and payables
 
from / to UBS Group AG and other subsidiaries
 
of UBS Group AG
USD m
31.12.22
31.12.21
Receivables
Loans and advances to customers
2,807
1,049
Financial assets at fair value held for trading
146
187
Other financial assets measured at amortized cost
147
45
Payables
Customer deposits
2,119
2,828
Funding from UBS Group AG
56,147
57,295
Other financial liabilities measured at amortized cost
1,985
1,887
Other financial liabilities designated at fair value
1
1,796
2,340
1 Represents funding recognized
 
from UBS Group AG
 
that is designated at fair
 
value. Refer to Note 18b
 
for more information.