U B S, A. G., American Depositary Receipts, Columbus/ Starkville/ West Point, Mississippi USA, UBR - UBRAT - UBRE - UBRN - UBRT - UBSBF - UBSC - UBSCP - UBSH - UBSI. Name Social Security Number Marital Status Single Married Name of Plan Section II - Beneficiary Designation. [36] UBS Investment Bank was formerly known as UBS Warburg and as Warburg Dillon Read, before the merger of the Union Bank of Switzerland and the Swiss Bank Corporation (SBC). The most secure digital platform to get legally binding, electronically signed documents in just a few seconds. As of 30 September 2017, these are Chase Nominees Ltd, DTC (Cede & Co.) and Nortrust Nominees Ltd with 10.32%, 6.63% and 4.04% of total share capital respectively. UBS opened branches and acquired a series of banks in Switzerland in the following years, growing from 31 offices in 1950 to 81 offices by the early 1960s. The division offers a fully integrated set of wealth management advisory solutions for ultra-high net worth and high net worth clients. UBS offers high net worth and affluent individuals around the world a complete range of tailored advice and investment services. Ubs Change In Beneficiary Form. They have sales & trading and private wealth management offices in Stamford, Connecticut. The company's global business groups are global wealth management, investment bank, asset management and personal & corporate banking. The banking privacy policies of UBS have led to numerous controversies and disagreements with foreign governments: In January 2010, UBS issued a new code of conduct and business ethics which all employees were encouraged to sign. [77][81], Two years later, in 1997, SBC paid US$600 million to acquire Dillon, Read & Co., a U.S. bulge bracket investment bank. UBS reached multilateral agreements with the U.S. Internal Revenue Service (IRS) and U.K. HM Revenue and Customs in 2009 and 2010, respectively. [98][99] In 1993, Credit Suisse outbid Union Bank of Switzerland for Switzerland's Swiss Volksbank, the fifth largest bank in Switzerland which had run into financial difficulties in the early 1990s. [72] Following two major acquisitions in 1986 (Phillips & Drew and Deutsche Länderbank), UBS made its first purchase in the United States in 1991 with Chase Investors Management Corporation, the asset management business of Chase Manhattan Bank. [241][242], In 2006, for the fourth consecutive year, UBS was named one of the 100 Best Companies for Working Mothers living in the U.S. by Working Mother magazine. Despite its trimming of sell side operations, UBS maintains a global investment bank and is considered a primary market maker. "[208], UBS, along with other Swiss banks, owns and operates undisclosed or otherwise secretive bank vaults, storage facilities or underground bunkers for gold bars, diamonds, cash, or other valuable physical assets. [245] On 4 May 2010, UBS Investment Bank was voted the leading pan-European brokerage firm for equity and equity linked research for a record tenth successive year. [205], While UBS maintains the strictest banking secrecy policies in Switzerland, its policies across Europe and especially the United States are comparable. On 19 December 2012, UBS was fined $1.5 billion for its role in the Libor scandal[174] over accusations that it tried to rig benchmark interest rates. [nb 4] More than 60% of total invested assets in UBS Wealth Management belong to individuals with a net worth of CHF 10 million or more. [261][263], In 2019, UBS was listed as one of the Top 50 World's Most Attractive Employers Global Business Ranking 2019 by Universum Global Survey.[264]. At the end of the transaction, completed in October 2017,[54] the American company will administrate a total of CHF 420 billion in assets. [30] As of 2018, UBS manages the largest amount of private wealth in the world, counting approximately half of the world's billionaires among its clients. UBS Forums – Leading business media company providing research-based content led business conferences and information rich research reports that provide unlimited opportunities for individual and corporate learning. [213] In May 2013, Switzerland announced that it would amend certain banking secrecy laws applicable to UBS Switzerland AG to allow the disclosure of hidden client accounts to various investigative authorities. [85][71] The new company was initially traded under the English name Swiss Banking Association, but in 1921 it was changed to Union Bank of Switzerland (UBS) to mirror its French name, Union de Banques Suisses. Step 3 Set up your cash access features [114][115] At the time of its merger with UBS, Paine Webber had emerged as the fourth largest private client firm in the United States with 385 offices employing 8,554 brokers. The founders have studied in Michigan Business School-USA, Tuck Business School-USA, IMD-Switzerland and IE Business School-Spain and have brought the global best practices by establishing a fully residential campus of exceptional quality near Mumbai. UBS operations in Switzerland and the United States were respectively ranked first and second on the 2018 Financial Secrecy Index. With its headquarters in Switzerland, UBS Wealth Management is present in more than 40 countries with approximately 190 offices (100 of which are in Switzerland). [64], On a global scale, UBS competes with the largest global investment banks,[65][66] particularly within the Bulge Bracket,[65][63] and is regularly compared against its fellow Swiss banking giant, Credit Suisse. Form 424B2 UBS AG. [202] The most prominent was the Federal Act on Banks and Savings Banks, known simply as the "Banking Law of 1934". UBS was founded in 1862 as the Bank in Winterthur alongside the advent of the Swiss banking industry. [238] UBS has committed to raise US$5 billion of SDG-related impact investments by the end of 2021, which aim to create a measurable positive social or environmental impact. [28] UBS offers brokerage services and products as well as asset management and other investment advisory and portfolio management products and services. Registration Form *Use this form to obtain online account opening access if you are a UBS financial advisor. Apart from private banking, UBS provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients with international service. The American division also offers its own credit card not sponsored by another bank unlike many of its competitors. [117] Over the next four years, UBS consistently ranked in the top 4 in the global fee pool and established a track record of 20 consecutive quarters of rising profits. Prior to the merger with Swiss Bank Corporation, UBS purchased a group of smaller Swiss banks in 1994 including the Cantonal Bank of Appenzell-Ausserrhoden in 1996,[71] and in 1997 Schröder, Münchmeyer, Hengst & Co. from Lloyds Bank was acquired to improve access to the German investment banking and private wealth management markets. [201][214] The geographical location of these facilities are undisclosed to the public but are known to be present in the mountainous regions of the Swiss Alps. 1856 as Bankverein, renamed in 1872), O'Connor & Associates(est. 1995). [79] However, a Warburg expansion into the U.S. had turned out flawed and costly, and talks in 1994 with Morgan Stanley about a merger had collapsed. 1977, acq. [29] The whole companies assets under management (AUM) amounted to US$1,737.5 billion in 2015, representing a 1% decrease in AUM compared to the equivalent data of 2014. In his six years at UBS, Moelis ultimately assumed the role of president of UBS Investment Bank and was credited, along with Costas, with the build-out of UBS's investment banking operation in the United States. Available for PC, iOS and Android. [201] The transfer of assets to these bunkers is selective as a multi-stage security clearance is required and is not available to all UBS clients. [178], In late 2016, the bank created the digital currency "Utility Settlement Coin" (USC) to accelerate inter-bank settlements and established a blockchain technology research laboratory in London. [28] It also provides stable and substantial profits for the Group and revenue opportunities for businesses within the bank. ), UBS operations maintain similar banking secrecy policies to Switzerland in the following countries and crown dependencies: Jersey, Austria, Luxembourg, Liechtenstein, Monaco, and the Isle of Man. [28] UBS maintains a leading position in the retail and corporate loan market in Switzerland; in fact, it serves one in three pension funds, more than 85% of the 1,000 largest Swiss corporations and 85% of banks that resides within the nation. [201] Soon after, Zurich authorities opened a judicial investigation against Meili for suspected violations of the Swiss laws on banking secrecy. [82] After its acquisition by SBC, Dillon Read was merged with SBC-Warburg to create SBC-Warburg Dillon Read. [246], On 31 October 2013, UBS Wealth Management was voted the Best Global Private Bank by Professional Wealth Management,[247] retaining the title in 2014 while also being recognized as the Best Private Bank for Philanthropy Services, and Best Global Brand in Private Banking. The code addressed issues such as financial crime, competition, confidentiality, as well as human rights and environmental issues. Report of the Control Committees of the Federal Assembly", "UBS expected to post biggest Swiss loss ever", "UBS to Cut 7,500 More Jobs After $1.8 Billion Loss", "UBS Faces Questions on Oversight After a Trader Lost $2 Billion", "UBS replaces head of investment banking", "Swiss Bank UBS To Cut 8700 Jobs To Return To Profitability", "UBS, in Asset Dump, to Sell Brazilian Bank", Switzerland Selling UBS Stake After U.S. Tax Accord, "UBS problems to remain after $3.5 billion capital hike", "UBS Plans to Be Making Nearly $15 Billion a Year in Profit by 2014", "UBS sets out ambitious plans for return to growth", "UBS in new brand campaign and Formula 1 tie-up", "UBS sticks by 'you & us' in Formula 1 sponsorship deal", "UBS to Cut 3,500 Jobs, Half in Investment Banking", "UBS trader Kweku Adoboli charged with fraud", "UBS 'rogue trader': Loss estimate raised to $2.3bn", "UBS trader Kweku Adoboli 'gambled away' £1.4bn", "UBS cuts 10,000 jobs as it slims down investment bank arm", "UBS Agrees to Pay $1.54 Billion to Settle Libor Investigations", "HANDS SLAPPED: 5 Banks Get Hit with Fines for Currency Manipulation", "UBS seeks to offload Australian wealth unit to management", "UBS to Open Blockchain Research Lab in London", "UBS leads team of banks working on blockchain settlement system", "Welcome to the new era of bank downsizing". The selection criteria are focused less on the size, but rather on qualities that companies look for when choosing a provider. The acquisition pushed UBS to the top wealth and asset management firm in the world. 1945), Phillips & Drew(est. Get instant explanation for any acronym or abbreviation that hits you anywhere on the web. 96 out of the 119 total companies listed. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution in the world. [193] After the last Annual General Meeting in May 2016, Robert W. Scully and Dieter Wemmer were elected as new members of the Board. [84] The Toggenburger Bank was founded in 1863 with an initial share capital of CHF 1.5 million,[71] and specialized as a savings and mortgage bank for individual customers, maintaining a branch office network in eastern Switzerland. Following an expansion in 2002, the trading floor covers 9,600-square-metre (103,000 sq ft) with 12-metre (40 ft) arched ceilings. [157], The Swiss government sold its CHF 6 billion stake in UBS in late 2008 at a large profit; Switzerland had purchased convertible notes in 2008 to help UBS clear its balance sheets of toxic assets. [199], As of 30 June 2019, shareholdings of the Group were distributed as follows:[200], UBS frequently cites Swiss culture—specifically its penchant for privacy, security and neutrality—as foundational to its company culture. [39], UBS's main competitors in this division are Bank of America, Credit Suisse, Morgan Stanley, JP Morgan Chase, Wells Fargo and Charles Schwab. 1939 as spin-offfrom J. Therefore, UBS is no longer an acronym but is the company's brand. Fill out, securely sign, print or email your ubs beneficiary designation form instantly with SignNow. [239], In August 2016, UBS announced that it will team up with BNY Mellon, Deutsche Bank, Banco Santander, brokerage company ICAP and the fintech company Clearmatics, to promote UBS's "Utility Settlement Coin" (USC). [194] The investment bank was led by Andrea Orcel from November 2014 to September 2018– eventually leaving to lead Banco Santander–before being replaced by Robert Karofsky and Piero Novelli. In late 2005, Costas headed a new hedge fund unit within UBS known as Dillon Read Capital Management. [145] In response to its losses, UBS announced a CHF 15 billion rights offering to raise the additional funds need to shore up its depleted reserves of capital. [nb 3] During the early 2000s, the commensurate rise of UBS and Credit Suisse established a legally-sanctioned oligopoly on Swiss private market activity. [177] In May 2015, media reports revealed UBS is planning to sell its Australian private banking division to some of its management after a review of underperforming businesses was conducted at the company. UBS was also named as the number one leading pan-European brokerage firm for economics and strategy research. [71] In 1917, UBS completed the construction of a new headquarters in Zurich on Bahnhofstrasse, considered to be the Wall Street of Switzerland. UBS was included on Business Week's The Best Places to Launch a Career 2008, and ranked No. Tweet Share E-mail. & W. Seligman & Co. Kidder, Peabody & Co.(est. [218] In July 2013, UBS established a gold storage facility and depository in Singapore for high net worth and ultra high net worth clients in their Hong Kong, China, and Malaysia markets who are willing to pay high fees and commissions for the highest level of secrecy and safety for their assets. [136], In response to the growing series of problems at UBS, and possibly his role in spearheading Costas' departure from the bank, Peter Wuffli unexpectedly stepped down as CEO of the firm during the second quarter of 2007. [162][163] On 26 October 2010, UBS announced that its private bank recorded net new funds of CHF 900 million during the third quarter, compared to an outflow of CHF 5.5 billion in second quarter. [72].mw-parser-output .tmulti .thumbinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}, SBC subsequently experienced a period of growth, which was only interrupted by the onset of World War I, in which the bank lost investments in a number of large industrial companies. 45 percent of the job cuts would come from the investment banking unit, which continued to post dismal figures since the 2008 financial crisis, while the rest would come from the wealth management and asset management divisions. However, the bank's problems continued through the end of 2007,[139] when the bank reported its first quarterly loss in over five years. [46] UBS continues to issue gold bars via Argor-Heraeus which is famous for the unique kinebar holographic technology it uses to provide enhanced protection against bank gold bar counterfeiting. 1864, acq. In June 2011, it was announced that UBS was considering moving its North American headquarters back to New York City, and that the bank was looking for office spaces in Midtown and in the rebuilt World Trade Center. Heralded as a "neat" package by The New York Times, the UBS structure guaranteed clarity for UBS investors by making an outright sale. "Top UBS Banker Has 'Very Aggressive Plan for U.S. "UBS Chairman Says a 'Massive' Bitcoin Correction Is Possible", "Commerzbank, other banks join UBS and IBM trade finance blockchain", "Axel Weber to Succeed UBS Chairman Villiger in 2013 After Bundesbank Role", "Axel Weber to be nominated for election to UBS Board of Directors in 2012 and to be appointed Chairman in 2013", "Results of the Annual General Meeting of UBS AG", "UBS CEO Gruebel resigns in wake of rogue trades", "UBS Hires Credit Suisse Executive for Efficiency Drive", "UBS investment bankers fear for future as their star departs", "UBS CEO Ermotti to step down in November", "HSBC files: how a 1934 Swiss law enshrined secrecy,", "Swiss Federal Law on Banks and Savings Banks", "Financial Regulation: The Concise Encyclopedia of Economics | Library of Economics and Liberty", "These are the 10 biggest tax havens on the planet", "Switzerland to Allow Its Banks to Disclose Hidden Client Accounts", "Identification Rules for Swiss Banks: UBS", Bundesgesetz über die Banken und Sparkassen (Bankengesetz, BankG), Swiss Law:, Article 47 (in German), "Nach elf Jahren hat Christoph Meili genug von den USA: "Ich komme heim in die Schweiz – für immer, "Jewish Groups Fight for Spoils of Swiss Case", "Secret Alpine Gold Vaults Are the New Swiss Bank Accounts", "The Sinister Face Of 'Neutrality' | Frontline | PBS", "Got gold? [71] In 1960, Union Bank of Switzerland acquired an 80% stake in Argor SA, a Swiss precious metals refinery founded in 1951 in the canton of Ticino. Visit our site to find out what we offer in India. Start a … [265] UBS has previously been or currently is a sponsor of the following cultural events and organizations: UBS currently holds the naming rights of the under construction UBS Arena which will be home to the New York Islanders. [45] The 1998 UBS-SBC merger and subsequent restructuring resulted in the combination of three major asset management operations: UBS Asset Management, Phillips & Drew (owned by Union Bank of Switzerland), and Brinson Partners (owned by SBC). The eight-page code also lays out potential sanctions against employees who violate it, including warnings, demotions, or dismissal. During tax season or throughout the year, if you misplace your Form 1099 or need a copy of a statement, UBS Online Services is the place to go. 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