Ubs*bank

Apart from private banking, UBS provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients with international service. UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients. Despite its trimming of sell-side operations, UBS maintains a global investment bank and is considered a primary market maker. The bank also maintains numerous underground bank vaults, bunkers, and storage facilities for gold bars around the Swiss Alps and internationally. Partly due to its banking secrecy, it has been at the centre of numerous tax avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian authorities. UBS operations in Switzerland and the United States were respectively ranked first and second on the 2018 Financial Secrecy Index.

ubs*bank

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As of May 2022[update], UBS is the third largest bank in Europe with a market capitalization of $63 billion.[13] It is one of the eight global "Bulge Bracket" banks. It has over CHF 3.2 trillion in assets under management (AUM), approximately CHF 2.8 trillion of which are invested assets.[14] In June 2017, its return on invested capital was 11.1%, followed by Goldman Sachs' 9.35%, and JPMorgan Chase's 9.456%.[15] In late 2016, UBS established a blockchain technology research lab in London to advance its cyber security and encryption of client activities. Based on regional deal flow and political influence, UBS is considered one of the "biggest, most powerful financial institutions in the world".[16][17] The company's capital strength, security protocols, and reputation for discretion have yielded a substantial market share in banking and a high level of brand loyalty. Alternatively, it receives routine criticism for facilitating tax noncompliance and off-shore financing. UBS is a primary dealer and Forex counterparty of the U.S. Federal Reserve.

UBS was founded in 1862 as the Bank in Winterthur.[18] This development came with the formation of the series of modern Swiss Grossbanken (big banks) in the latter part of the 19th century.[19] The name of the bank was derived from the town of Winterthur, which served as Switzerland's industrial hub in the 19th century.[20] By 1854, six private bankers in Basel founded the Swiss Bank Corporation (SBC) to cater to the increasing credit needs of Swiss railroad and manufacturing companies.[21] It formed a private banking syndicate that expanded, aided by Switzerland's international neutrality.[citation needed] In 1912, the Bank of Winterthur merged with Toggenburger Bank to form the Union Bank of Switzerland (UBS)[18] and grew rapidly after the Banking Law of 1934 codified Swiss banking secrecy. Following decades of market competition between Union Bank of Switzerland and the Swiss Bank Corporation (SBC), the two merged in 1998 to create a single company known solely as "UBS".[nb 3] UBS does not stand for Union Bank of Switzerland. In fact, that was one of the more than 370 financial firms that have, since 1862, become part of today's UBS. During the 2008 financial crisis, UBS managed heavy losses with an asset relief recovery program.[citation needed] In 2011, the company was hit by the 2011 rogue trader scandal resulting in a US$2 billion trading loss.[23] In 2012, the bank reoriented itself around wealth management advisory services and limited its sell side operations.

UBS is a joint-stock company (Aktiengesellschaft) pursuant to Swiss laws. Its shares are listed at the SIX Swiss Exchange and the New York Stock Exchange (NYSE). As of December 2020, UBS is present in all major financial centres worldwide, having offices in 50 countries, with about 30% of its approx. 73,000 employees working in the Americas, 30% in Switzerland, 19% in Europe (excluding Switzerland), the Middle East and Africa and 21% in the Asia Pacific region.[25] The bank has its major presence in the United States. Its American headquarters for investment banking are located in New York City, for private wealth management advisory in Weehawken, New Jersey. They have sales & trading and private wealth management offices in Stamford, Connecticut.[citation needed]

The company's global business groups are global wealth management, investment bank, asset management and personal & corporate banking.[25] UBS is the leading provider of retail banking and commercial banking services in Switzerland, as established already in 2009.[26] Overall invested assets are $3.101 billion, shareholders' equity is $52.928 billion and market capitalization is $45.907 billion by the end of 2018.[25] In November 2014, the shares in UBS Group AG were listed and started trading as a new holding company at the NYSE and SIX Swiss Exchange. Upon application and with effect as of 14 January 2015, the shares of UBS AG, the subsidiary of the UBS Group AG, were delisted from the NYSE.[27] As of September 2019, the largest institutional shareholders are:[28]

With its headquarters in Switzerland, UBS Wealth Management is present in more than 40 countries with approximately 190 offices (100 of which are in Switzerland).[33] As of the end of 2018, around 23,600 people worldwide were employed by Global Wealth Management.[25][34] In Switzerland, UBS Swiss Bank provides a complete set of retail banking services that includes chequing, savings, credit cards, and mortgage products for individuals.[41] They offer cash management and commercial banking services for small businesses and corporate clients as well.[41]

UBS's Personal & Corporate Banking division delivers financial products and services to retail,[46] corporate and institutional clients[47] in Switzerland.[33] It also provides stable and substantial profits for the Group and revenue opportunities for businesses within the bank.[33] UBS maintains a leading position in the retail and corporate loan market in Switzerland; in fact, it serves one in three pension funds, more than 85% of the 1,000 largest Swiss corporations and 85% of banks that resides within the nation.[33] In 2015, 2017 and 2018, the international financial magazine Euromoney named UBS "Best Domestic Cash Manager Switzerland".[48] As of 31 December 2018, its lending portfolio reached US$131 billion.[49][25]

The products that this UBS division offers range from cash accounts, payments, savings and retirement plans to investment fund products, residential mortgages and advisory services.[33] This business division constitutes a central building block of UBS's universal bank delivery model in Switzerland and it supports other divisions, such as Investment Bank, by referring clients to them and by assisting them to build their wealth to a level at which they can be transferred to UBS Wealth Management.[33] The retail and corporate distribution network comprises not only 279 branches in Switzerland, but 1,250 teller machines and self-service terminals, as well as digital banking services, serving 2.5 million personal banking clients.[33][25]

In February 2017, UBS Group AG and the Northern Trust Corporation, an American international financial services company, announced an agreement for the acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland. This acquisition will facilitate the expansion of the Northern Trust Corporation into these two countries, turning the American company into the major fund administrator in the local markets and into one of the ten global leaders in the sector. At the end of the transaction, completed in October 2017,[59] the American company will administrate a total of CHF 420 billion in assets. UBS Asset Management will continue anyway to offer Management Company, White Labelling and Representative Services to its clients. Ulrich Körner, president of the UBS Asset Management, affirms that the continuous transformation of their platform is due to a major efficiency, effectiveness and geographical dislocation of the services offered by the bank.[60]

The Sales & Trading division comprises equities (brokering, dealing, market making and engaging in proprietary trading in equities, equity-related products, equity derivatives, and structured products) and FX, Rates and Credit (FRC) (brokering, dealing, market making and engaging in proprietary trading in interest rate products, credit products, mortgage-backed securities, leveraged loans, investment grade and high-yield debt, currencies, structured products, and derivative products). Following an expansion in 2002, the trading floor covers 9,600-square-metre (103,000 sq ft) with 12-metre (40 ft) arched ceilings. Over US$1 trillion in assets are traded here every trading day. In June 2011, it was announced that UBS was considering moving its North American headquarters back to New York City, and that the bank was looking for office spaces in Midtown and in the rebuilt World Trade Center.[64][65]

UBS's main competitors in this division are fellow members of the Bulge Bracket,[66] particularly Goldman Sachs, JPMorgan Chase, and Bank of America.[67][68]The American division also offers its own credit card not sponsored by another bank unlike many of its competitors.[69]

On a global scale, UBS competes with the largest global investment banks,[70][71] particularly within the Bulge Bracket.[70][68] and until acquiring Credit Suisse in 2023 was regularly compared against it.[72][73] According to a 2018 study published by Coalition Research Institute, UBS was among the top 10 of the world's investment banks.[74]

UBS' earliest corporate ancestor was formed in 1854, when six private banking firms in Basel, Switzerland pooled their resources to form the Bankverein, a consortium that acted as an underwriting syndicate for its member banks.[76] In 1871, the Bankverein coordinated with the German Frankfurter Bankverein to form the Basler Bankverein, a joint-stock company replacing the original Bankverein consortium.[76] After the new bank started with an initial commitment of CHF 30 million and CHF 6 million of share capital, it soon experienced growing pains when heavy losses in Germany caused it to suspend its dividend until 1879.[76] Following the years 1885 and 1886, when the bank merged with the Zürcher Bankverein and acquired the Basler Depositenbank and the Schweizerische Unionbank, it changed its name to Schweizerischer Bankverein.[76] The English name of the bank was originally Swiss Bankverein, but was changed to Swiss Bank Corporation (SBC) in 1917.[77].mw-parser-output .tmulti .multiimageinnerdisplay:flex;flex-direction:column.mw-parser-output .tmulti .trowdisplay:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box.mw-parser-output .tmulti .tsinglemargin:1px;float:left.mw-parser-output .tmulti .theaderclear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%.mw-parser-output .tmulti .thumbcaptionbackground-color:transparent.mw-parser-output .tmulti .text-align-lefttext-align:left.mw-parser-output .tmulti .text-align-righttext-align:right.mw-parser-output .tmulti .text-align-centertext-align:center@media all and (max-width:720px).mw-parser-output .tmulti .thumbinnerwidth:100%!important;box-sizing:border-box;max-width:none!important;align-items:center.mw-parser-output .tmulti .trowjustify-content:center.mw-parser-output .tmulti .tsinglefloat:none!important;max-width:100%!important;box-sizing:border-box;text-align:center.mw-parser-output .tmulti .tsingle .thumbcaptiontext-align:left.mw-parser-output .tmulti .trow>.thumbcaptiontext-align:center 041b061a72