UBS AG is a Swiss global financial services company, incorporated in the Canton of Zurich, and co-headquartered in Zurich and Basel. The company provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients worldwide, and is generally considered to be a bulge bracket bank. In Switzerland, these services are also offered to retail clients. The name UBS was originally an abbreviation for the Union Bank of Switzerland, but it ceased to be a representational abbreviation after the bank's merger with Swiss Bank Corporation in 1998. The company traces its origins to 1856, when the earliest of its predecessor banks was founded.
UBS is considered the world's largest manager of private wealth assets, with over CHF 2.2 trillion in invested assets, and remains a leading provider of retail banking and commercial banking services in Switzerland. Its assets under management (AuM) amounted in 2014 to US$1,966.9 billion, representing a 15.4% increase in AuM compared to the equivalent data of 2013. It is the biggest bank in Switzerland, operating in more than 50 countries with about 60,000 employees around the world, as of 2014.
In comparison to other European banks, UBS suffered among the largest losses during the subprime mortgage crisis, and it was required to raise large amounts of outside capital. The bank received a US$9.7 billion capital injection in 2007 from the Government of Singapore Investment Corporation (currently GIC Private Limited effective from July 2013), which remains one of the bank's largest shareholders. UBS also received capital from the Swiss government, further complemented by a series of equity offerings in 2007, 2008, and 2009.
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 February 2015, UBS is present in all major financial centers worldwide, having offices in more than 50 countries, with about 35% of its approx. 60,000 employees working in the Americas, 36% in Switzerland, 17% in Europe, the Middle East and Africa and 12% in the Asia Pacific region.
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 in Weehawken, New Jersey and its sales & trading headquarters can be found in Stamford, Connecticut. Company's global business groups are (i) wealth management, (ii) investment banking and (iii) asset management. Additionally, UBS is the leading provider of retail banking and commercial banking services in Switzerland, as established already in 2009. Overall invested assets are CHF 2.689 trillion, shareholders' equity is CHF 55.313 billion and market capitalization is CHF 75.147 billion by the end of 2015.
In November 2014, the shares in UBS Group AG were listed and started trading as a new holding company on the NYSE and SIX Swiss Exchange. Upon application and with the effect as of 14 January 2015, the shares of the USB AG, the subsidiary of the UBS Group AG, were delisted from the NYSE.
UBS' structure includes six divisions in total:
|Corporate Center||Wealth Management||Wealth Management Americas||Retail & Corporate||Global Asset Management||Investment Bank|
Starting already on 9 June 2003, all UBS business groups, including UBS Paine Webber and UBS Warburg, were rebranded under the UBS moniker following company's start of operations as a unified global entity.
As it exists today, UBS represents a conglomeration of dozens of individual firms, many of which date back to the 19th century. Over the years, these firms merged to form the bank's three major predecessors, Union Bank of Switzerland, Swiss Bank Corporation, and Paine Webber.
|Trading Platforms||UBS’s on-line platform|
|Authorised Capital||41.01 billion|
|Address||UBS AG, Bahnhofstrasse 45, CH-8001 Zurich, Switzerland;|
I have been with UBS for several years and decided to move my accounts to TD Ameritrade. The greedy jerks pelted me with hundreds of dollars of fees which I understand is their MO. I suggest if you decided to use UBS that you never leaver or be prepared to be raped!
I have IRA with UBS, each year they increase the yearly maintenance fee, now $170 paid in December. When I inquired on rolling over to another brokerage account in January I was told there would be a $95 transfer fee and another annual fee of $170 would be charged. Stay away from UBS unless you want to be ripped off.
I agree with with all above..I was hit with several greedy commission charges..2 weeks ago, I called in a small trade which a clerical person put in for me and the elm wealth management brokers hit me with a $907 outrageous commission.....raped is right ! had to complain to ubs to get it reduced...
Greediest thieves I've ever dealt with!