
UBS today announced that Rick Penafiel will be joining the firm as Market Executive for South Florida, a newly established market reflecting the firm&#39;s continued growth and investment across Florida. Following the

<p xmlns="http://www.w3.org/1999/xhtml">
UBS today announced that Rick Penafiel will be joining the firm as Market Executive for South Florida, a newly established market reflecting the firm's continued growth and investment across Florida. Following the conclusion of his notice period, Rick will lead UBS's wealth management business in South Florida, which includes key wealth centers Miami, Aventura, Fort Lauderdale, Boca Raton and Palm Beach.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Rick will report to Julie Fox, Southeast Regional Director, and will be based in Boca Raton.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We are thrilled to soon welcome Rick to our leadership team," said Julie Fox. "His deep expertise, leadership experience and consistent success in building and leading high-performing wealth management teams make him uniquely suited to lead one of our most strategic growth regions. With decades of experience serving clients and an in-depth understanding of the South Florida market, Rick brings both local insight and the trust built through long-standing relationships. South Florida represents a significant growth opportunity for our firm, and this appointment underscores our ongoing commitment to attracting world-class talent as we continue to expand our wealth management offering across Florida."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Rick will bring more than three decades of wealth management experience to UBS. He will join from J.P. Morgan Wealth Management, where he most recently served as Managing Director and Regional Director of the Northeast Region, which included the Boston, Philadelphia, Washington, D.C., and New Jersey markets. Prior to that role, Rick led J.P. Morgan's Palm Beach and Miami wealth management markets. He also spent more than a decade at Bear Stearns &amp; Co. Rick began his career in financial services at PaineWebber. He holds a Bachelor of Science degree in finance and economics from Boston College.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As part of this transition, UBS is evolving its Florida regional structure by creating two distinct markets: South Florida and Greater Florida. 19-year UBS veteran Lane Stumlauf has informed the firm of his decision to step down from his role as Florida Market Executive later this year to explore new opportunities. UBS will soon announce a Market Executive to oversee the Greater Florida market, which includes Naples, Fort Myers, Sarasota, Tampa, Clearwater, St. Petersburg, Orlando, Gainesville and Jacksonville.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Lane has been an extraordinary leader for UBS and a driving force behind the strength of our Florida region," added Julie. "Over his nearly two decades with the firm, he has led with integrity, deep market knowledge and a strong commitment to our advisors and clients. Lane's leadership and vision have been instrumental in building a high-performing organization across Florida, and we are incredibly grateful for his many contributions within our region and across the firm."

</p><p xmlns="http://www.w3.org/1999/xhtml">
During his tenure at UBS, Lane served in a number of senior leadership roles, most recently as Florida Market Executive, where he oversaw the firm's Wealth Management and Private Wealth Management businesses across 34 branch offices statewide. Previously, he led UBS's Wealth Management and Private Wealth businesses in the Southeast Market, as well as senior leadership roles across the Northwest and West Divisions.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Lane's leadership has been recognized with multiple firm and industry honors. In 2024, he received UBS's prestigious <i xmlns="http://www.w3.org/1999/xhtml">Ed Connelly Award</i> for excellence in leadership, integrity, courage and a never-ending passion for helping people, as well as the <i xmlns="http://www.w3.org/1999/xhtml">John Lester Award </i>recognizing resilience and perseverance. He has also been recognized by <i xmlns="http://www.w3.org/1999/xhtml">On Wall Street</i> as one of its Top 100 Branch Managers and has held several senior advisory and industry leadership roles during his tenure.

</p><p xmlns="http://www.w3.org/1999/xhtml">
UBS has made significant recent investments across Florida to support its continued growth in the region. The firm has announced new offices in Ponte Vedra, Fort Myers and Coral Gables, with an additional new Boca Raton office currently underway and expected to be completed by late 2026. UBS has also announced office renovations and enhancements in Fort Lauderdale and Naples, with further investments planned later this year and into 2027.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Notes to Editors</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About UBS
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 7 trillion dollars of invested assets as per the fourth quarter 2025. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#xA9; UBS 2026. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260507361498r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260507361498/en/" rel="nofollow">https://www.businesswire.com/news/home/20260507361498/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media Contact: 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Scott Gamm
<br xmlns="http://www.w3.org/1999/xhtml"></br>Strategy Voice Associates
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:UBSsoutheast@strategyvoiceassociates.com" shape="rect">UBSsoutheast@strategyvoiceassociates.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ubs.com&amp;esheet=54531343&amp;newsitemid=20260507361498&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.ubs.com&amp;index=1&amp;md5=10410ddf69055c0f3b19942e50d8d027" shape="rect">https://www.ubs.com</a>

</p>

UBS Appoints Rick Penafiel as Market Executive for South Florida

UBS Expands Florida Footprint with New Market Executive Appointment

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>UBS today announced that Rick Penafiel will be joining the firm as Market Executive for South Florida, a newly established market reflecting the firm&amp;#39;s continued growth and investment across Florida. Following the</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>UBS has appointed Rick Penafiel as Market Executive for South Florida, enhancing its wealth management presence in a strategic growth area. This move coincides with UBS&#039;s ongoing investments in the region, including new office openings, signaling potential for revenue growth in the coming years.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>Rick Penafiel joins UBS as Market Executive for South Florida.</li><li>New market structure for Florida: South Florida and Greater Florida.</li><li>UBS continues investing in Florida with new offices and renovations.</li><li>Lane Stumlauf, current Market Executive, plans to exit later this year.</li><li>Penafiel brings over 30 years of wealth management experience.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>JP Morgan (JPM)</strong>: Penafiel’s departure from JP Morgan could indicate competitive shifts in wealth management.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This article falls under &#039;Corporate Developments&#039; as it outlines leadership changes and strategic regional positioning for UBS, crucial for investors monitoring company growth initiatives and market presence.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Penafiel’s appointment indicates UBS&#039;s commitment to expanding its Florida operations.</li><li>The creation of separate markets in Florida may streamline management and boost efficiency.</li><li>Recent investments in new office locations could enhance market share.</li><li>Stumlauf&#039;s departure while not detrimental, opens opportunities for fresh leadership.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>Rick Penafiel will lead the South Florida wealth management market.</li><li>UBS&#039;s new Boca Raton office is expected to be completed by late 2026.</li><li>Lane Stumlauf has been with UBS for 19 years, overseeing 34 offices.</li><li>UBS has announced renovations in Fort Lauderdale and Naples.</li><li>UBS manages $7 trillion in invested assets.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Investors should consider buying UBS shares in anticipation of growth in Florida&#039;s wealth management market.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml">
UBS today announced that Rick Penafiel will be joining the firm as Market Executive for South Florida, a newly established market reflecting the firm's continued growth and investment across Florida. Following the conclusion of his notice period, Rick will lead UBS's wealth management business in South Florida, which includes key wealth centers Miami, Aventura, Fort Lauderdale, Boca Raton and Palm Beach.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Rick will report to Julie Fox, Southeast Regional Director, and will be based in Boca Raton.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"We are thrilled to soon welcome Rick to our leadership team," said Julie Fox. "His deep expertise, leadership experience and consistent success in building and leading high-performing wealth management teams make him uniquely suited to lead one of our most strategic growth regions. With decades of experience serving clients and an in-depth understanding of the South Florida market, Rick brings both local insight and the trust built through long-standing relationships. South Florida represents a significant growth opportunity for our firm, and this appointment underscores our ongoing commitment to attracting world-class talent as we continue to expand our wealth management offering across Florida."

</p><p xmlns="http://www.w3.org/1999/xhtml">
Rick will bring more than three decades of wealth management experience to UBS. He will join from J.P. Morgan Wealth Management, where he most recently served as Managing Director and Regional Director of the Northeast Region, which included the Boston, Philadelphia, Washington, D.C., and New Jersey markets. Prior to that role, Rick led J.P. Morgan's Palm Beach and Miami wealth management markets. He also spent more than a decade at Bear Stearns &amp; Co. Rick began his career in financial services at PaineWebber. He holds a Bachelor of Science degree in finance and economics from Boston College.

</p><p xmlns="http://www.w3.org/1999/xhtml">
As part of this transition, UBS is evolving its Florida regional structure by creating two distinct markets: South Florida and Greater Florida. 19-year UBS veteran Lane Stumlauf has informed the firm of his decision to step down from his role as Florida Market Executive later this year to explore new opportunities. UBS will soon announce a Market Executive to oversee the Greater Florida market, which includes Naples, Fort Myers, Sarasota, Tampa, Clearwater, St. Petersburg, Orlando, Gainesville and Jacksonville.

</p><p xmlns="http://www.w3.org/1999/xhtml">
"Lane has been an extraordinary leader for UBS and a driving force behind the strength of our Florida region," added Julie. "Over his nearly two decades with the firm, he has led with integrity, deep market knowledge and a strong commitment to our advisors and clients. Lane's leadership and vision have been instrumental in building a high-performing organization across Florida, and we are incredibly grateful for his many contributions within our region and across the firm."

</p><p xmlns="http://www.w3.org/1999/xhtml">
During his tenure at UBS, Lane served in a number of senior leadership roles, most recently as Florida Market Executive, where he oversaw the firm's Wealth Management and Private Wealth Management businesses across 34 branch offices statewide. Previously, he led UBS's Wealth Management and Private Wealth businesses in the Southeast Market, as well as senior leadership roles across the Northwest and West Divisions.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Lane's leadership has been recognized with multiple firm and industry honors. In 2024, he received UBS's prestigious <i xmlns="http://www.w3.org/1999/xhtml">Ed Connelly Award</i> for excellence in leadership, integrity, courage and a never-ending passion for helping people, as well as the <i xmlns="http://www.w3.org/1999/xhtml">John Lester Award </i>recognizing resilience and perseverance. He has also been recognized by <i xmlns="http://www.w3.org/1999/xhtml">On Wall Street</i> as one of its Top 100 Branch Managers and has held several senior advisory and industry leadership roles during his tenure.

</p><p xmlns="http://www.w3.org/1999/xhtml">
UBS has made significant recent investments across Florida to support its continued growth in the region. The firm has announced new offices in Ponte Vedra, Fort Myers and Coral Gables, with an additional new Boca Raton office currently underway and expected to be completed by late 2026. UBS has also announced office renovations and enhancements in Fort Lauderdale and Naples, with further investments planned later this year and into 2027.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Notes to Editors</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About UBS
<br xmlns="http://www.w3.org/1999/xhtml"></br></b>UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 7 trillion dollars of invested assets as per the fourth quarter 2025. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).

</p><p xmlns="http://www.w3.org/1999/xhtml">
&#xA9; UBS 2026. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260507361498r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260507361498/en/" rel="nofollow">https://www.businesswire.com/news/home/20260507361498/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media Contact: 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Scott Gamm
<br xmlns="http://www.w3.org/1999/xhtml"></br>Strategy Voice Associates
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:UBSsoutheast@strategyvoiceassociates.com" shape="rect">UBSsoutheast@strategyvoiceassociates.com 
</a><br xmlns="http://www.w3.org/1999/xhtml"></br>
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.ubs.com&amp;esheet=54531343&amp;newsitemid=20260507361498&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.ubs.com&amp;index=1&amp;md5=10410ddf69055c0f3b19942e50d8d027" shape="rect">https://www.ubs.com</a>

</p>

UBS has appointed Rick Penafiel as Market Executive for South Florida, enhancing its wealth management presence in a strategic growth area. This move coincides with UBS's ongoing investments in the region, including new office openings, signaling potential for revenue growth in the coming years.

UBS Appoints Rick Penafiel as Market Executive for South Florida

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News