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Interests in subsidiaries (Tables)
12 Months Ended
Dec. 31, 2022
Entity [Table]  
Disclosure Of Significant Investments In Subsidiaries Explanatory
Individually significant subsidiaries
 
of UBS Group AG as of 31 December
 
2022
Company
Registered office
Share capital in million
Equity interest accumulated in %
UBS AG
Zurich and Basel, Switzerland
CHF
385.8
100.0
UBS Business Solutions AG
1
Zurich, Switzerland
CHF
1.0
100.0
1 UBS Business Solutions AG
 
holds subsidiaries in China, India,
 
Israel and Poland.
Individually significant subsidiaries
 
of UBS AG as of 31 December 2022
1
Company
Registered office
Primary business
Share capital in million
Equity interest accumulated in %
UBS Americas Holding LLC
Wilmington, Delaware, USA
Group Functions
USD
5,150.0
2
100.0
UBS Americas Inc.
Wilmington, Delaware, USA
Group Functions
USD
0.0
100.0
UBS Asset Management AG
Zurich, Switzerland
Asset Management
CHF
43.2
100.0
UBS Bank USA
Salt Lake City, Utah, USA
Global Wealth Management
USD
0.0
100.0
UBS Europe SE
Frankfurt, Germany
Global Wealth Management
EUR
446.0
100.0
UBS Financial Services Inc.
Wilmington, Delaware, USA
Global Wealth Management
USD
0.0
100.0
UBS Securities LLC
Wilmington, Delaware, USA
Investment Bank
USD
1,283.1
3
100.0
UBS Switzerland AG
Zurich, Switzerland
Personal & Corporate Banking
CHF
10.0
100.0
1 Includes direct
 
and indirect
 
subsidiaries of
 
UBS AG.
 
2 Consists of
 
common
 
share capital
 
of USD
1,000
 
and non-voting
 
preferred share
 
capital of
 
USD
5,150,000,000
.
 
3 Consists
 
of common
 
share capital
 
of
USD
100,000
 
and non-voting preferred
 
share capital of USD
1,283,000,000
.
Disclosure Of Investments In Associates And Joint Arrangements Explanatory
Investments in associates and joint
 
ventures
USD m
2022
2021
Carrying amount at the beginning of the year
1,243
1,557
Additions
3
1
Reclassifications
1
(44)
(386)
Share of comprehensive income
(41)
150
of which: share of net profit
2
32
105
of which: share of other comprehensive income
3
(73)
45
Share of changes in retained earnings
0
1
Dividends received
(31)
(39)
Foreign currency translation
(30)
(39)
Carrying amount at the end of the year
1,101
1,243
of which: associates
1,098
1,200
of which: SIX Group AG, Zurich
4
954
1,043
of which: other associates
144
157
of which: joint ventures
3
43
of which: Mitsubishi Corp.-UBS Realty Inc.,
 
Tokyo
1
40
of which: other joint ventures
3
3
1 In 2022, UBS reclassified
 
its minority investment
 
(
49
%) in Mitsubishi Corp.-UBS
 
Realty Inc. of USD
44
m to Properties and
 
other non-current assets
 
held for sale and sold
 
the investment in the
 
same year.
 
In 2021,
UBS reclassified its minority investment
 
(
48.8
%) in Clearstream Fund Centre
 
AG of USD
386
m to Properties and other non-current
 
assets held for sale and sold the
 
investment in the same year.
 
2 For 2022, consists
of USD
27
m from associates and USD
5
m from joint ventures (for 2021, consists of USD
79
m from associates and USD
26
m from joint ventures).
 
3 For 2022, consists of negative USD
73
m from associates (for 2021,
consists of USD
44
m from associates and
 
USD
1
m from joint ventures).
 
4 In 2022, UBS
 
AG’s equity interest
 
amounted to
17.31
%. UBS AG is represented
 
on the Board of Directors.
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory
Interests in unconsolidated structured
 
entities
31.12.22
USD m, except where indicated
Securitization
vehicles
Client
vehicles
Investment
funds
Total
Maximum
exposure to loss
1
Financial assets at fair value held for trading
278
81
5,884
6,243
6,243
Derivative financial instruments
3
160
115
278
278
Loans and advances to customers
119
119
119
Financial assets at fair value not held for trading
225
225
225
Financial assets measured at fair value through
 
other comprehensive income
2
Other financial assets measured at amortized cost
2
837
4,977
3
2
5,817
6,066
Total assets
1,118
4
5,219
6,345
12,681
Derivative financial instruments
1
35
763
798
2
Total liabilities
1
35
763
798
Assets held by the unconsolidated structured
 
entities in which UBS had an interest
(USD bn)
50
5
107
6
139
7
31.12.21
USD m, except where indicated
Securitization
vehicles
Client
vehicles
Investment
funds
Total
Maximum
exposure to loss
1
Financial assets at fair value held for trading
246
162
6,743
7,151
7,151
Derivative financial instruments
5
45
155
205
205
Loans and advances to customers
125
125
125
Financial assets at fair value not held for trading
35
222
257
257
Financial assets measured at fair value through
 
other comprehensive income
324
4,525
4,849
4,849
Other financial assets measured at amortized cost
0
3
0
1
250
Total assets
610
4
4,732
7,247
12,588
Derivative financial instruments
2
11
281
294
Total liabilities
2
11
281
294
Assets held by the unconsolidated structured
 
entities in which UBS had an interest
(USD bn)
30
5
81
6
158
7
1 For the purpose of this
 
disclosure, maximum exposure
 
to loss amounts do not consider
 
the risk-reducing effects
 
of collateral or other credit
 
enhancements.
 
2 Effective
 
1 April 2022, a portfolio of assets
 
previously
classified as Financial assets measured
 
at fair value through other comprehensive
 
income was reclassified to
 
Other financial assets
 
measured at amortized cost. Refer
 
to Note 1b for more information.
 
3 Includes the
carrying amount of loan commitments. The
 
maximum exposure to loss for these instruments is equal to the notional amount.
 
4 As of 31 December 2022, USD
0.1
bn of the USD
1.1
bn (31 December 2021: USD
0.1
bn
of the USD
0.6
bn) was held in Group Functions
 
– Non-core and Legacy
 
Portfolio.
 
5 Represents the principal
 
amount outstanding.
 
6 Represents the market
 
value of total assets.
 
7 Represents the
 
net asset value
of the investment funds sponsored
 
by UBS and the carrying amount
 
of UBS’s interests
 
in the investment funds
 
not sponsored by UBS.
UBS AG Subsidiaries  
Entity [Table]  
Disclosure Of Significant Investments In Subsidiaries Explanatory
Other subsidiaries of UBS AG as of 31 December
 
2022
Company
Registered office
Primary business
Share capital in million
Equity interest
 
accumulated in %
UBS Asset Management (Americas) Inc.
Wilmington, Delaware, USA
Asset Management
USD
0.0
100.0
UBS Asset Management (Hong Kong) Limited
Hong Kong SAR, China
 
Asset Management
HKD
153.8
100.0
UBS Asset Management Life Ltd
London, United Kingdom
Asset Management
GBP
15.0
100.0
UBS Asset Management Switzerland AG
Zurich, Switzerland
Asset Management
CHF
0.5
100.0
UBS Business Solutions US LLC
Wilmington, Delaware, USA
Group Functions
USD
0.0
100.0
UBS Credit Corp.
Wilmington, Delaware, USA
Global Wealth Management
USD
0.0
100.0
UBS (France) S.A.
Paris, France
Global Wealth Management
EUR
197.0
100.0
UBS Fund Management (Luxembourg) S.A.
Luxembourg, Luxembourg
Asset Management
EUR
13.0
100.0
UBS Fund Management (Switzerland) AG
Basel, Switzerland
Asset Management
CHF
1.0
100.0
UBS (Monaco) S.A.
Monte Carlo, Monaco
Global Wealth Management
EUR
49.2
100.0
UBS O‘Connor LLC
Wilmington, Delaware, USA
Asset Management
USD
1.0
100.0
UBS Realty Investors LLC
Boston, Massachusetts, USA
Asset Management
USD
9.0
100.0
UBS Securities Australia Ltd
Sydney, Australia
Investment Bank
AUD
0.3
1
100.0
UBS Securities Hong Kong Limited
Hong Kong SAR, China
 
Investment Bank
HKD
3,354.2
100.0
UBS Securities Japan Co., Ltd.
Tokyo, Japan
Investment Bank
JPY
34,708.7
100.0
UBS SuMi TRUST Wealth Management Co., Ltd.
Tokyo, Japan
Global Wealth Management
JPY
5,165.0
51.0
1 Includes a nominal amount relating
 
to redeemable preference
 
shares.
UBS AG  
Entity [Table]  
Disclosure Of Significant Investments In Subsidiaries Explanatory
Individually significant subsidiaries
 
of UBS AG as of 31 December 2022
1
Company
Registered office
Primary business
Share capital in million
Equity interest accumulated in %
UBS Americas Holding LLC
Wilmington, Delaware, USA
Group Functions
USD
5,150.0
2
100.0
UBS Americas Inc.
Wilmington, Delaware, USA
Group Functions
USD
0.0
100.0
UBS Asset Management AG
Zurich, Switzerland
Asset Management
CHF
43.2
100.0
UBS Bank USA
Salt Lake City, Utah, USA
Global Wealth Management
USD
0.0
100.0
UBS Europe SE
Frankfurt, Germany
Global Wealth Management
EUR
446.0
100.0
UBS Financial Services Inc.
Wilmington, Delaware, USA
Global Wealth Management
USD
0.0
100.0
UBS Securities LLC
Wilmington, Delaware, USA
Investment Bank
USD
1,283.1
3
100.0
UBS Switzerland AG
Zurich, Switzerland
Personal & Corporate Banking
CHF
10.0
100.0
1 Includes direct
 
and indirect
 
subsidiaries of
 
UBS AG.
 
2 Consists
 
of common
 
share capital
 
of USD
1,000
 
and non-voting
 
preferred share
 
capital of
 
USD
5,150,000,000
.
 
3 Consists
 
of common
 
share capital
 
of
USD
100,000
 
and non-voting preferred
 
share capital of USD
1,283,000,000
.
Disclosure Of Investments In Associates And Joint Arrangements Explanatory
Investments in associates and joint
 
ventures
USD m
2022
2021
Carrying amount at the beginning of the year
1,243
1,557
Additions
3
1
Reclassifications
1
(44)
(386)
Share of comprehensive income
(41)
150
of which: share of net profit
2
32
105
of which: share of other comprehensive income
3
(73)
45
Share of changes in retained earnings
0
1
Dividends received
(31)
(39)
Foreign currency translation
(30)
(39)
Carrying amount at the end of the year
1,101
1,243
of which: associates
1,098
1,200
of which: SIX Group AG, Zurich
4
954
1,043
of which: other associates
144
157
of which: joint ventures
3
43
of which: Mitsubishi Corp.-UBS Realty Inc.,
 
Tokyo
1
40
of which: other joint ventures
 
3
 
3
1 In 2022, UBS AG reclassified its minority investment (
49
%) in Mitsubishi Corp.-UBS Realty
 
Inc. of USD
44
m to Properties and other non-current assets held for sale and sold the
 
investment in the same year. In 2021,
UBS AG reclassified
 
its minority
 
investment (
48.8
%) in Clearstream
 
Fund Centre
 
AG of
 
USD
386
m to Properties
 
and other
 
non-current assets
 
held for sale
 
and sold the investment
 
in the same
 
year.
 
2 For 2022,
consists of USD
27
m from associates and
 
USD
5
m from joint ventures (for 2021,
 
consists of USD
79
m from associates and
 
USD
26
m from joint ventures).
 
3 For 2022, consists
 
of negative USD
73
m from associates
(for 2021, consists of USD
44
m from associates and USD
1
m from joint ventures).
 
4 In 2022, UBS AG’s
 
equity interest amounted
 
to
17.31
%. UBS AG is represented
 
on the Board of Directors.
Disclosure Of Interests In Unconsolidated Structured Entities Explanatory
Interests in unconsolidated structured
 
entities
31.12.22
USD m, except where indicated
Securitization
vehicles
Client
vehicles
Investment
funds
Total
Maximum
exposure to loss
1
Financial assets at fair value held for trading
278
81
5,884
6,243
6,243
Derivative financial instruments
3
160
115
278
278
Loans and advances to customers
119
119
119
Financial assets at fair value not held for trading
108
108
108
Financial assets measured at fair value through
 
other comprehensive income
2
Other financial assets measured at amortized cost
2
837
4,977
3
2
5,817
6,066
Total assets
1,118
4
5,219
6,228
12,565
Derivative financial instruments
1
35
763
798
2
Total liabilities
1
35
763
798
Assets held by the unconsolidated structured
 
entities in which UBS AG had an
interest (USD bn)
50
5
107
6
95
7
31.12.21
USD m, except where indicated
Securitization
vehicles
Client
vehicles
Investment
funds
Total
Maximum
exposure to loss
1
Financial assets at fair value held for trading
246
162
6,743
7,151
7,151
Derivative financial instruments
5
45
155
205
205
Loans and advances to customers
125
125
125
Financial assets at fair value not held for trading
35
100
135
135
Financial assets measured at fair value through
 
other comprehensive income
324
4,525
4,849
4,849
Other financial assets measured at amortized cost
0
3
0
1
250
Total assets
610
4
4,732
7,124
12,466
Derivative financial instruments
2
11
281
294
Total liabilities
2
11
281
294
Assets held by the unconsolidated structured
 
entities in which UBS AG had an
interest (USD bn)
30
5
81
6
103
7
1 For the purpose of this
 
disclosure, maximum exposure
 
to loss amounts do not consider
 
the risk-reducing effects
 
of collateral or other credit
 
enhancements.
 
2 Effective
 
1 April 2022, a portfolio of assets
 
previously
classified as Financial assets measured
 
at fair value through other comprehensive
 
income was reclassified to
 
Other financial assets
 
measured at amortized cost. Refer
 
to Note 1b for more information.
 
3 Includes the
carrying amount of loan commitments. The
 
maximum exposure to loss for these instruments is equal to the notional amount.
 
4 As of 31 December 2022, USD
0.1
bn of the USD
1.1
bn (31 December 2021: USD
0.1
bn
of the USD
0.6
bn) was held in Group Functions
 
– Non-core and Legacy
 
Portfolio.
 
5 Represents the principal
 
amount outstanding.
 
6 Represents the market
 
value of total assets.
 
7 Represents the
 
net asset value
of the investment funds sponsored
 
by UBS AG and the carrying
 
amount of UBS AG’s
 
interests in the investment
 
funds not sponsored
 
by UBS AG.
UBS AG | UBS AG Subsidiaries  
Entity [Table]  
Disclosure Of Significant Investments In Subsidiaries Explanatory
Other subsidiaries of UBS AG as of 31 December
 
2022
Company
Registered office
Primary business
Share capital in million
Equity interest
 
accumulated in %
UBS Asset Management (Americas) Inc.
Wilmington, Delaware, USA
Asset Management
USD
0.0
100.0
UBS Asset Management (Hong Kong) Limited
Hong Kong SAR, China
 
Asset Management
HKD
153.8
100.0
UBS Asset Management Life Ltd
London, United Kingdom
Asset Management
GBP
15.0
100.0
UBS Asset Management Switzerland AG
Zurich, Switzerland
Asset Management
CHF
0.5
100.0
UBS Business Solutions US LLC
Wilmington, Delaware, USA
Group Functions
USD
0.0
100.0
UBS Credit Corp.
Wilmington, Delaware, USA
Global Wealth Management
USD
0.0
100.0
UBS (France) S.A.
Paris, France
Global Wealth Management
EUR
197.0
100.0
UBS Fund Management (Luxembourg) S.A.
Luxembourg, Luxembourg
Asset Management
EUR
13.0
100.0
UBS Fund Management (Switzerland) AG
Basel, Switzerland
Asset Management
CHF
1.0
100.0
UBS (Monaco) S.A.
Monte Carlo, Monaco
Global Wealth Management
EUR
49.2
100.0
UBS O‘Connor LLC
Wilmington, Delaware, USA
Asset Management
USD
1.0
100.0
UBS Realty Investors LLC
Boston, Massachusetts, USA
Asset Management
USD
9.0
100.0
UBS Securities Australia Ltd
Sydney, Australia
Investment Bank
AUD
0.3
1
100.0
UBS Securities Hong Kong Limited
Hong Kong SAR, China
 
Investment Bank
HKD
3,354.2
100.0
UBS Securities Japan Co., Ltd.
Tokyo, Japan
Investment Bank
JPY
34,708.7
100.0
UBS SuMi TRUST Wealth Management Co., Ltd.
Tokyo, Japan
Global Wealth Management
JPY
5,165.0
51.0
1 Includes a nominal amount relating
 
to redeemable preference
 
shares.