UBS
UBS is a Swiss multinational financial services company headquartered in Zurich and Basel, with major operations worldwide and its American headquarters in New York City. It offers a broad range of financial services across retail and commercial banking, investment banking, asset management, and wealth management.
Overview and history
- The modern UBS formed when Union Bank of Switzerland merged with Swiss Bank Corporation in 1998. The letters “UBS” originate from the Union Bank of Switzerland but today are used as the company name rather than an acronym.
- The UBS logo—three keys—originates from the Swiss Bank Corporation and symbolizes trust, security, and discretion.
- In March 2023, UBS agreed to absorb Credit Suisse in a government-brokered 3 billion Swiss franc all-stock deal intended to stabilize the Swiss banking system.
Scale and presence
- Operations in more than 50 countries.
- Approximately 115,000 employees.
- Assets under management (AUM) of roughly $3.85 trillion.
- Largest bank in Switzerland and the world’s largest private bank by assets under management.
Major divisions and services
UBS is structured around several primary business lines that serve individuals, institutions, and corporations.
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- Wealth Management
- Serves high-net-worth and ultra-high-net-worth clients.
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Services include portfolio and investment management, retirement and estate planning, tax planning, and personalized financial advisory.
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Asset Management
- Manages collective and institutional investment products (e.g., pension funds, mutual funds) as well as client portfolios.
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Focuses on delivering investment performance and client service across a range of asset classes and strategies.
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Investment Banking
- Provides underwriting of debt and equity, merger and acquisition advisory, capital markets services, and sales & trading for institutions and corporations.
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Considered part of the global “bulge bracket” of investment banks.
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Retail Banking
- Offers consumer-facing products such as checking and savings accounts, mortgages, personal loans, payment cards, and certificates of deposit.
- In the U.S., UBS operates as a licensed bank (UBS Bank USA), headquartered in New York and registered in Utah.
What UBS does for clients
- Delivers integrated financial solutions across private banking, investment management, corporate finance, and market services.
- Tailors services for wealthy individual clients while also serving institutional investors, corporations, and retail customers.
Quick FAQs
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Is UBS a U.S. bank?
UBS is headquartered in Switzerland but operates licensed banking entities in the U.S., including UBS Bank USA headquartered in New York and registered in Utah. -
What does UBS wealth management do?
It provides personalized financial planning, portfolio management, retirement and estate planning, tax and investment advice for affluent clients. -
Is UBS the largest private bank in the world?
Yes—by assets under management, UBS is the largest private bank globally.
Bottom line
UBS is a global, diversified Swiss financial institution with a large international footprint and leading positions in wealth management, asset management, and investment banking. Its scale, comprehensive product set, and presence in major financial centers make it a dominant player in private and institutional finance.