UBS: A merged banking giant with 160 years of tradition

The largest Swiss bank, UBS, itself emerged from the merger of more than 370 financial institutions

For UBS, the elephant wedding would be with her rival Swiss credit undoubtedly their largest and most important to date, but by no means the only one in their more than 160-year history.

Today’s banking giant itself emerged from the merger of more than 370 institutions. Since the bank was founded in Winterthur in 1862, dozens of financial companies – including private banks, savings banks, asset managers and brokers, and commercial banks – have been incorporated into the UBS realm.

After a series of transactions, the Basler Bankverein became the Swiss Bank Corporation in 1897. Most recently, UBS was formed in 1998 from the merger of the Swiss Bank Corporation (SBG) and the Swiss Bank Corporation (SBV). In the middle of last year, UBS wanted to take over the digital US wealth manager Wealthfront for $1.4 billion. She saw significant growth potential in wealthy millennial and Gen Z investors, but surprisingly canceled the deal. Probably for cost reasons.

name without meaning

The name UBS was originally the acronym from Unation of Bhips Suisses or Italian Unione di Banche Svizzere, later also in English Union Bank

of Sjoke country Today, UBS is officially a proper name with no further meaning.

According to the banking group’s website, significant shareholders include the US investment company Blackrock with a stake of 5.23 percent, Dodge & Cox International Stock Fund (3.02 percent), Massachusetts Financial Services Company (3.01 percent), Artisan Partners (3.15 percent) and Norges Bank (3.01 percent).

72,600 employees

Like Credit Suisse, the institute’s headquarters are in the city of Zurich. where most of the 72,600 employees worldwide work. In the home market alone, the bank has 200 branches with 4,600 customer advisors. She has

an equity ratio of 14.2 percent.

The bank made a profit of $7.63 billion last year. Shareholders received a 10 percent

cent higher dividend of $0.55. Overall, customers entrusted around $60 billion in new funds to the bank last year. At the end of last year, UBS managed assets of 354 billion dollars in Switzerland.

Author: JJ Beat

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