UBS’ Brian Hull on “Changing the World” by Making Employee Ownership the Norm

“We have to help more people recognize the opportunity and benefit of shared ownership,” says Brian Hull , Executive Vice Chairman Americas at 瑞银集团 . “It’s more than just the right thing to do, it’s the smart thing for business. Shared vision, common goals and joint accountability drives productivity."

The reality is, according to Hull, that it’s possible to do good and do well at the same time. “These ideas are not mutually exclusive,” he adds. “If anything, the opposite is true. They’re complementary.” Recognizing the shared ownership movement’s potential to address wealth inequality and help companies thrive, 瑞银集团 joined Ownership Works as one of the nonprofit’s first Founding Partners in 2022. The firm’s commitment to the shared ownership movement has only grown since then, and in 2024, Brian Hull joined the Ownership Works Board of Directors.

Ownership Works spoke with Hull about how the nonprofit’s purpose aligns with 瑞银集团 ' mission of reimagining the power of people and capital to create a better world for all. Hull also discusses the bright future that lies ahead for the growing shared ownership movement.

Q. The UBS tagline is "wealth management is our craft." What does craft mean to you, and how does that translate into how UBS operates as an organization? And how does shared ownership specifically align with that vision?

Hull: For me, craft is defined by true dedication and passion for what you do. At UBS, that means serving clients. We have very close, personal relationships with our clients, working to help them identify and achieve all their life’s goals – financial & otherwise. They entrust us with an enormous responsibility, and we focus on delivering the best outcomes for them. That’s the level of commitment that comes when you view your work as not just a job, but as your craft. Shared ownership motivates employees at all levels of a company to master their craft.

As owners, employees literally become invested in their work. They’re brought in to see the strategy, they feel valued, and their incentives are directly aligned with the success of the organization. The effect that has on performance is tremendous. We help people grow their wealth and create the impact they want to have on the world — from the CEOs who want to build a legacy in their businesses, to the workers who make those businesses thrive. Shared ownership allows employees to build legacies for their families and has the power to amplify those efforts for the benefit of all.

"Shared ownership motivates employees at all levels of a company to master their craft."

Q. What makes for the most successful partnership when UBS partners with an organization?

Hull: When we engage in social impact partnerships, we don’t view them as side projects, separate from our business. Every successful partnership begins with shared values. We look for places where our core values have the potential to drive social benefits at scale.

As a Founding Partner, UBS has made a financial commitment to Ownership Works, but we’ve also put our intellectual and human capital to work, leveraging our investment ecosystem and internal expertise. For example, many of the clients we advise are business owners and we’ve been able to connect companies who want to explore this model with Ownership Works.

We’ve launched a pilot program with an Ownership Works company to promote financial wellness with financial advisor coaches who provide workers with education, guidance, and support, and we’ve seconded UBS employees to Ownership Works to focus on advancing their mission. The best relationships are the ones where two plus two equals five and each partner would be happy to take the other’s deal — which is exactly what's happening here. It's all about the way we work together to build wealth and increase prosperity for businesses and employees.

Q. For funders and investors who are deeply concerned about issues such as wealth inequality or labor market unrest, what would you like them to know about the potential and promise of shared ownership?

Hull: I would say we share those concerns. Extreme income inequality is harmful to society. When workers lack wealth and live paycheck to paycheck, they’re more likely to feel anxious about the future, disconnected from their jobs, and undervalued by their employers. Productivity goes down, quality suffers, and businesses are forced to cut jobs or fail — all of which leads to reduced growth and economic opportunity. It’s a vicious cycle.

A different type of culture comes from instituting an ownership mindset. Suddenly employees feel it’s their product, their customers, and their company. We’ve seen broad-based employee ownership inspire employees, transform organizations, and significantly improve business performance. I believe culture is the best predictor of an organization’s future success and the more companies that operate this way, the stronger our economy will be.

Q. What are you personally hopeful that the shared ownership movement — and UBS' involvement in it — can help achieve?in our society?

Hull: I’m not exaggerating when I say my hope is to change the world and make this model the norm. Providing people with the opportunity to build wealth at work can transform lives — which is reason enough — but the impact goes beyond the individual. Employing shared ownership as a common practice can give us the best version of capitalism — one that is inclusive and sustainable, narrowing the wealth gap to create a more prosperous society and a better standard of living for everyone.

This is a movement that can change the nature of capitalism. It’s an ambitious goal, but it’s achievable. Shared ownership programs support better cultures and returns, and the private equity industry is taking notice. An increasing number of PE firms with large portfolios of companies are now embracing shared ownership. Over time, the cumulative impact of this and the benefit to society will be exponential. I’m proud that UBS has been on board from the beginning, helping to lead the way.

"Employing shared ownership as a common practice can give us the best version of capitalism — one that is inclusive and sustainable, narrowing the wealth gap to create a more prosperous society and a better standard of living for everyone."?

Q. As the newest member of the Ownership Works Board, is there anything else you would like readers to know about shared ownership or UBS’ partnership with O.W.??

Hull: I’m proud to join the Ownership Works Board and continue UBS’s commitment to such an important cause. I’m also excited to once again work alongside my friend, fellow Board member, and former UBS Americas President, Tom Naratil, to build on the incredible progress that has already been made. Since its founding in 2021, Ownership Works has generated more than $570 million for workers and we’re just getting started. The best is yet to come.

This interview has been lightly edited and condensed.

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