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, 12January 2024Page 1

12 January 2024

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

News Release

Changes to the UBS Board of Directors

Gail Kelly to be nominated for election to the Board of Directors at the upcoming Annual

General Meeting of UBS Group AG and of UBS AG. Dieter Wemmer will not standfor re-

election after eight years of Board membership.

Zurich/Basel, 12 January 2024 – The Board of Directorsof UBS Group AG announced today that it will

nominate Gail Kelly for election to the Board at theAnnual General Meeting on 24 April 2024.

Gail Kelly (born 1956) is a recognized leaderin the financial services sector and herexecutive banking career

spans over 35 years. She served as the Group CEOand Managing Director for two banks in Australia,St.

George Bank (2002 to 2007) followed by Westpac BankCorporation (2008 to 2015). During herCEO tenure

she navigated Westpac through the challenges of the GlobalFinancial Crisis and the successful mergerwith

St. George Bank in 2008, the largest in marketfinancial services merger in Australia. Afterher executive

career,Ms. Kelly continues to hold a portfolio ofroles, leveraging her experience and insights as aglobal

leader. She was a Senior Global Advisor to the UBS Group CEO and Group Executive Board from 2016 to

2023. She holds a bachelor’s degree of arts from the Universityof Cape Town and a Master of Business

Administration from the University of Witwatersrand,South Africa. Ms. Kelly is an Australian citizen.

UBS Chairman Colm Kelleher commented:"I am very pleased to announce the nominationof Gail Kelly for

election to the Board. As one of the most influentialvoices in the Asia Pacific financial industryand an

acknowledged leader, Gail has an outstanding reputation and is recognized as an excellent bank CEOwho

successfully navigated a merger. I greatly look forward to working with her on the Board."

The UBS Board of Directors also announced today thatDieter Wemmer will not stand for re-election to the

Board of Directors of UBS Group AG and UBS AG. Joining in 2016,he is the longest serving Board member

and has informed the Board of his decision to stepdown. UBS Chairman Colm Kelleher commented:“We

thank Dieter for his eight years of invaluable collaborationand distinguished service to our firm.Dieter’s

formidable expertise and personality will bemissed on the Group Board. During his tenure on the Board of

UBS, Dieter was a member of the Risk Committee,the Governance and NominatingCommittee, the

Compensation Committee and Audit Committee. He has contributed significantly to the strong governance at UBS Group AG and UBS AG, News Release, 12 January 2024 Page 2

UBS.”

UBS Group AG and UBS AG This Form 6-K is hereby incorporated by reference into (1) each of the registration statements on Form

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

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 12, 2024