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UBS

UBS
BusinessCompany Profiles

What Is UBS?

UBS, formerly known as the Union Bank of Switzerland, is a multinational diversified financial services company settled in Zurich and Basel. UBS is associated with basically all major financial activities, including retail and commercial banking, investment banking, investment management, and wealth management.

UBS has a major presence around the globe and in the United States. It has its American headquarters in New York City. It works in north of 50 countries worldwide, with close to 60,000 employees.

UBS Explained

The name UBS is derived from one of its predecessor corporations, the Union Bank of Switzerland. The current UBS originated when the Union Bank of Switzerland merged with the Swiss Bank Corporation in 1998. In this way, UBS is currently utilized as the company's official name and not as an abbreviation.

The UBS logo comprises of three keys, a symbol taken from the Swiss Bank Corporation. The keys symbolize confidence, security, and discretion.

UBS's Major Divisions

UBS has several major divisions, offering products and services to various clients. These divisions include wealth management, asset management, investment banking, and retail banking.

Wealth Management

UBS wealth management covers both high net worth and super high net-worth individuals. The division's financial advisors work with clients to understand the breadth of their financial and different assets and develop tailored answers for address their issues. Financial advisors might have practical experience in services, for example, investment management, income tax arrangement, or estate planning.

Asset Management

The investment aim of UBS asset management is to "deliver prevalent investment performance and client service." Asset management differs from wealth management in that it can likewise describe overseeing collective investments, (for example, a pension fund) in addition to supervising individual assets. Consequently, a deem asset management to incorporate wealth management.

UBS has more than CHF 4.4 trillion in invested assets in 2021 and is the biggest bank in Switzerland.

Investment Banking

UBS investment bank is considered one of the bulge bracket banks, alongside Goldman Sachs, J.P. Morgan, Morgan Stanley, Citigroup, Barclays, Bank of America Merrill Lynch, Credit Suisse, and Deutsche Bank.

Investment banks underwrite new debt and equity securities for a wide range of corporations, aid in the sale of these securities, and assist with working with mergers and acquisitions, redesigns, and broker trades for institutions and private investors. On occasion, investment banks likewise provide guidance to issuers regarding the issue and placement of stock.

Retail Banking

UBS retail banking is what many traditionally view as mass-market banking, wherein individual customers utilize the neighborhood offices of bigger commercial banks. Different instances of retail banks include Citibank and T.D. Bank.

UBS retail bank offers savings and checking accounts, mortgages, personal loans, debit or credit cards, and certificates of deposit (CDs). The attention is on the individual consumer.

Highlights

  • Its retail banking sector works with private Swiss bank accounts.
  • The fundamental divisions of UBS include investment and retail banking and asset and wealth management.
  • It was shaped as a merger between Union Bank of Switzerland and Swiss Bank Corp.
  • UBS is a Swiss investment bank with global operations.
  • The company has around USD $4.8 billion in assets under management.

FAQ

What Does UBS Rely on?

UBS is the abbreviation for Union Bank of Switzerland ("Union de Banques Suisses" or "Unione di Banche Svizzere" in French or Italian, separately. In German, it's "Schweizerische Bankgesellschaft"). At the point when Union Bank merged with Swiss Bank, the new entity took on the name UBS.

Is UBS a US Bank?

While UBS is situated in Switzerland, it likewise works as a licensed U.S. bank, settled in New York City and registered in Utah, known as UBS Bank USA.

How Does UBS Wealth Management Respond?

UBS Wealth Management provides a scope of financial planning services for individuals and organizations. These include portfolio management, market research, retirement planning, and instructive planning.