UBS

UBS Group AG
FormerlyUnion Bank of Switzerland (1862–1998)
Company typePublic (Aktiengesellschaft)
ISINCH0244767585
Industry
Predecessor
Founded29 June 1998 (1998-06-29) (through the merger of Union Bank of Switzerland and Swiss Bank Corporation)
HeadquartersZürich, Switzerland
Area served
Worldwide
Key people
Products
RevenueDecrease US$34.6 billion (2022)
Increase US$9.60 billion (2022)
Increase US$7.63 billion (2022)
AUMDecrease US$3.96 trillion (2022)
Total assetsDecrease US$1.10 trillion (2022)
Total equityDecrease US$56.9 billion (2022)
Number of employees
74,022 (end 2022)
SubsidiariesCredit Suisse[2]
Capital ratioDecrease Tier 1 14.2% (2022)
RatingS&P: A+
Moody's: Aa2
Fitch: AA-
Websitewww.ubs.com Edit this at Wikidata
Footnotes / references
UBS Institutional Reporting as of: end of 2022[3][4]

UBS Group AG[nb 1] is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy.[nb 2] Because of the bank's large positions in the Americas, EMEA, and Asia Pacific markets, the Financial Stability Board considers it a global systemically important 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. UBS also 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.

As of May 2022, UBS is the fifth largest bank in Europe with total assets worth over €1.5 trillion.[15] 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.[16] In June 2017, its return on invested capital was 11.1%, followed by Goldman Sachs' 9.35%, and JPMorgan Chase's 9.456%.[17] 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".[18][19] 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.

  1. ^ Revill, John (1 December 2021). "UBS appoints JP Morgan Chase executive Youngwood as group CFO". Reuters. Archived from the original on 20 April 2022.
  2. ^ "UBS completes Credit Suisse acquisition". UBS. 12 June 2023.
  3. ^ "UBS Annual Report 2022" (PDF). UBS. Archived (PDF) from the original on 7 March 2023. Retrieved 6 March 2023.
  4. ^ "UBS Credit Ratings". UBS Group AG. Retrieved 2 April 2023.
  5. ^ "UBS: Union Bank of Switzerland". Bloomberg. Archived from the original on 19 June 2018. Retrieved 16 June 2018.
  6. ^ "UBS Corporate Information: What does 'UBS' stand for?". www.ubs.com. Archived from the original on 4 June 2019. Retrieved 16 June 2018. The name 'UBS' came from one of our predecessor firms - the Union Bank of Switzerland. However, just like other prominent brands, which used to be an abbreviation of a company name, UBS is no longer considered an acronym.
  7. ^ O'Donnell, John (28 April 2008). "UBS architect Ospel leaves battered bank". Reuters. Archived from the original on 3 January 2021. Retrieved 8 August 2018. The three-times married banker was the architect of what was originally meant to be called United Bank of Switzerland — the fusion of Swiss Bank Corporation and Union Bank of Switzerland in 1998. He later masterminded the acquisition of U.S.-based PaineWebber.
  8. ^ "UBS Organizational Structure: How we are organized". www.ubs.com. Archived from the original on 8 August 2018. Retrieved 8 August 2018.
  9. ^ Neghaiwi, Brenna Hughes (31 October 2017). "Exclusive: Swiss prosecutors seek widening of secrecy law to..." Reuters. Archived from the original on 3 January 2021. Retrieved 16 June 2018.
  10. ^ "FINRA.org: Customer Information Protection". www.finra.org. Archived from the original on 28 July 2019. Retrieved 22 July 2018.
  11. ^ Obringer, Lee Ann (6 November 2007). "How Swiss Bank Accounts Work". HowStuffWorks. Archived from the original on 3 March 2021. Retrieved 5 April 2018.
  12. ^ Moscovici, Pierre (27 May 2015). "Fighting tax evasion: EU and Switzerland sign historic tax transparency agreement". europa.eu. European Commission. Archived from the original on 7 September 2015. Retrieved 5 April 2018.
  13. ^ Pickert, Kate (26 February 2009). "A Brief History Of: Swiss Banks". Time. ISSN 0040-781X. Archived from the original on 24 February 2021. Retrieved 3 April 2018.
  14. ^ Phung, Albert (31 March 2018). "How do I open a Swiss bank account, and what makes them so special?". Investopedia. Archived from the original on 20 January 2021. Retrieved 5 April 2018.
  15. ^ Mones, Deza; Taqi, Mohammad (26 April 2023). "Europe's 50 largest banks by assets, 2023". S&P Global. Archived from the original on 22 May 2023. Retrieved 24 May 2023.
  16. ^ Neghaiwi, Brenna Hughes (21 April 2017). "Wealth management boosts UBS profit but future uncertain". Reuters. Archived from the original on 2 December 2020. Retrieved 5 April 2018.
  17. ^ Trainer, David (21 December 2017). "Betting On The Future Of Wealth Management With UBS". Forbes. Archived from the original on 12 August 2020. Retrieved 5 April 2018.
  18. ^ Friedersdorf, Conor (31 July 2015). "Hillary Helps a Bank—and Then It Funnels Millions to the Clintons". The Atlantic. Archived from the original on 27 February 2021. Retrieved 27 November 2018. The Swiss bank UBS is one of the biggest, most powerful financial institutions in the world.
  19. ^ Ballhaus, Rebecca (21 July 2015). "UBS Deal Shows Clinton's Complicated Ties". The Wall Street Journal. Archived from the original on 16 February 2021. Retrieved 27 November 2018.


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