Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATEISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 UNDER

THE SECURITIES EXCHANGE ACT OF 1934

(Address of principal executive office)

Commission File Number: 1-36764

Aeschenvorstadt 1, 4051 Basel, Switzerland

(Address of principal executive offices)

Commission File Number: 1-15060

Indicate by check mark whether the registrants file or will file annual reports under cover of Form This Form 6-K consists of the news release which appear immediately following this page.

20-F or Form 40-

F.

Form 20-F

☒

Form 40-F

☐

UBS Group AG and UBS AG, News Release, 24January 2024Page 1

24 January 2024

Ad hoc announcement pursuant to Article 53 of the SIX Exchange Regulation Listing Rules

News Release

Changes to the UBS Group Executive Board

●

Aleksandar Ivanovic named President Asset Management; Suni Harford retires

●

Beatriz Martin Jimenez named GEB Lead for Sustainability andImpact.

Zurich/Basel, 14 January 24 January 2024 –Following Suni Harford’s decision to retire from UBS, Aleksandar

Ivanovic will join UBS’s Group Executive Board as President AssetManagement and Beatriz Martin Jimenez

will become the GEB Lead for Sustainabilityand Impact in addition to her existing responsibilities.These

changes are effective 1 March 2024.

As Head of Client Coverage and Head of theEMEA and Switzerland regions for Asset Management,

Aleksandar Ivanovic has played a key role in developingand executing UBS’s Asset Managementstrategy and

leading the engagement with institutional andwholesale clients. Since starting hisUBS career in 1992 as an

apprentice, Aleksandar has worked in all UBS businessdivisions and has additionally held various leadership

roles at Credit Suisse and Morgan Stanley. He holds a Master of Science in Finance from the London Business

School.

Beatriz Martin Jimenez will succeed Suni Harford asGEB lead for Sustainability & Impact, inaddition to her

existing responsibilities as Head Non-Core and Legacy and President EMEAand UK Chief Executive. Beatriz

Martin Jimenez, who joined UBS in 2012,has held key business and finance roles during her12 years at UBS,

including Investment Bank Chief of Staff and COO,Group Treasurer,and Group Head Transformation and

has been closely involved with the firm’s culture-buildingactivities.

Suni Harford was appointed President Asset Managementin 2019 after joining the firm in 2017. Underher

leadership, UBS has continued to evolve andscale its Asset Management businessto meet clients’ changing

needs. Most recently, Suni has led the integration of Credit Suisse’s asset management activities, creatingone

of the largest global players with USD 1.6trillion in assets under management andrecognized strengths in

areas including alternatives and sustainability. As the GEB Lead for Sustainabilityand Impact since 2021, Suni

has spearheaded UBS’s efforts to align our activitiesacross the entire firm and drive our transition to a low-

carbon economy, including publication of our Climate Roadmap.

Group Chief Executive Officer Sergio P.Ermotti: “I’m delighted to welcome AleksandarIvanovic to the UBS

Group Executive Board. His extensive experience andbroad network across the firm make him the ideal

person to build on our strong foundation and progress our integrationplans. At the same time, Beatriz Martin

Jimenez’s many years of experience at UBS,as well as at other leading financial servicesfirms, will be

invaluable in her role as GEB lead for sustainabilityand impact. I’d also like to thank Suni Harfordfor her

leadership and commitment to UBS and forthe significant contribution she has madeto our success. I wish

her all the best for the future.”

UBS Group AG and UBS AG, News Release, 24January 2024Page 2

UBS Group AG and UBS AG

Investor Relations:

Switzerland:+41-44-234 41 00

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

Cautionary Statement Regarding Forward-Looking Statements

This media release 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. For a discussion of the risks and uncertainties that may affect UBS's future results

please refer to the "Risk Factors" and other sections of UBS’s most recent Annual Report on Form 20-F,quarterly reports and

other information furnished to or filed with the US Securities and Exchange Commission on Form 6-K, and the cautionary

statement on the last page of this presentation. 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 is hereby incorporated by reference into (1) each of theregistration statements on Form

F-3 (Registration Numbers 333-263376 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 outstandingunder any of the

foregoing registration statements, (2) any outstanding offering circular or similar documentissued or

authorized by UBS AG that incorporates by reference any Forms 6-Kof UBS AG that are

incorporated into its registration statements filed with the SEC,and (3) the base prospectus of

Corporate Asset Backed Corporation (“CABCO”) dated June 23, 2004(Registration Number 333-

111572), the Form 8-K of CABCO filed and dated June 23, 2004 (SEC File Number 001-13444), and

the Prospectus Supplements relating to the CABCO Series 2004-101 Trust dated May 10, 2004and

May 17, 2004 (Registration Number 033-91744 and 033-91744-05).

Pursuant to the requirements of the Securities Exchange Act of 1934, theregistrants have duly

caused this report to be signed on their behalf by the undersigned, thereuntoduly authorized.

Name:David Kelly

Title:Managing Director

Name:Ella Campi

Title:Executive Director

Name:David Kelly

Title:Managing Director

Name:Ella Campi

Title:Executive Director

Date:January 24, 2024