UBS - Wikipedia
In Switzerland, these services are also offered to retail clients. It is the biggest bank in Switzerland, operating in more than 50 countries with 59, employees around the world, as of In comparison to other European banks, UBS suffered among the largest losses during the subprime mortgage crisisand it was required to raise large amounts of outside capital.
Cantone 5 Fourbait Convenzione per la data stipulata. UBS is a joint-stock company "Aktiengesellschaft" pursuant to Swiss online casino dealer hiring october 2015. The bank has its major presence in the United States. The company's global business groups are i wealth managementii 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 UBS' structure includes five divisions in total: All logistics and support services are also located with this division and include operations, human resources, communications, physical security and information security.
UBS's wealth management division offers high-net-worth individuals around the world with the exception of those served by the division of Wealth Management Americas  a range of advisory and investment products and services. UBS offers brokerage services and products as well as asset management and other investment advisory and portfolio management products and services. The business is further divided geographically with separate businesses focused on the U. With its headquarters in Switzerland, UBS Wealth Management is present in more than 40 countries with approximately offices of which are in Switzerland.
In Switzerland, UBS Swiss Bank provides a complete set of retail banking services that includes checkingsavingscredit cardsand mortgage products for individuals. UBS Europe will operate in markets through online casino dealer hiring october 2015 network of its branches. The step is said to help the bank simplifying its governance structure and increase operational efficiency and therefore lead to cost savings. The division offers a fully integrated set of wealth management solutions for ultra-high net worth and high net worth clients.
The products that this UBS division offers range from cash accountspayments, savings and retirement solutions to investment fund products, residential mortgages and advisory services.
The retail and corporate distribution network comprises not only customer service centers, but 1, teller machines and self-service terminals, as well as digital banking services. UBS Asset Management offers equity, fixed incomecurrencyhedge fundglobal real estate, infrastructure and bonus for deposit equity investment capabilities that can also be combined in multi-asset strategies.
The UBS-SBC merger and subsequent restructuring resulted in the combination of three major asset management operations: The investment teams gowild casino mobile merged in and in the brands were consolidated online casino dealer hiring october 2015 become UBS Global Asset Management. This acquisition will facilitate the expansion of the Northern Trust Corporation into these two countries, turning the American company into the major fund administrator in the local markets and into one of the ten global leaders in the sector.
At the end of the transaction, expected for the second half ofthe American company will administrate a total of CHF billion in assets. Ulrich Körner, president of the UBS Asset Management, affirms that the continuous transformation of their platform is due to a major efficiency, effectiveness and geographical dislocation of the services offered by the bank. UBS Investment Bank provides services covering securities, other financial products, and research in equitiesrates, creditforeign exchange, precious metals and derivatives.
Within the UBS Investment Bank division, the Investment Banking Department IBD provides a range of online casino dealer hiring october 2015 and underwriting services including mergers and acquisitionsrestructuringequity offeringsinvestment grade and high yield debt offerings, leveraged finance source leveraged loan online casino dealer hiring october 2015, and the private placement of equitydebtand derivatives.
Since the early s, UBS Investment Bank has been among the top fee-generating investment banks globally. On a global scale, UBS competes with the large global investment banksand it is regularly compared against its fellow Swiss banking giant, Credit Suisse.
UBS is one of the major providers of young professional training in Switzerland, offering various programs, depending on applicants' level of education. Although the merged company's new name was originally supposed to be the "United Bank of Switzerland," the officials opted to call it simply UBS online casino dealer hiring october 2015 of a name clash with the separate Swiss company United Bank Switzerland — a part of online casino dealer hiring october 2015 United Bank Limited 's Swiss subsidiary.
Therefore, UBS is no longer an acronym but is the company's brand. Its logo of three keys, carried over from SBC, stands for the company's values of confidence, security, and discretion. UBS also comprises a number of well-known securities firms that have been acquired by the bank and its predecessors. UBS, through Swiss Bank Corporationtraces its history to when six private banking firms in Basel, Switzerland pooled their resources to form the Bankvereina consortium that acted as an underwriting syndicate for its member banks.
Following the years andwhen the bank merged with the Zürcher Bankverein and acquired the Basler Depositenbank and the Schweizerische Unionbank, it changed its name to Schweizerischer Bankverein. SBC subsequently experienced a period of growth, which was only interrupted by the onset of World War Iin which the bank lost investments in a number of large industrial companies. The impact of the stock market crash of and the Great Depression was severe, particularly as the Swiss franc suffered major devaluation in The bank read more its assets fall from a peak of CHF 1.
InSBC adopted online casino dealer hiring october 2015 three-keys logodesigned by Warja Honegger-Lavatersymbolizing confidence, security, and discretion, which remains an integral part in the current-day logo of UBS.
SBC remained among the Swiss government's leading underwriters of debt in the post-war years. The acquisition of S. The activities of the Union Bank of Switzerland during World War II were ipad money gambling online real publicly known until decades after the war, when it was demonstrated that UBS likely took active roles in trading stolen gold, securitiesand other assets during World War II.
The online casino dealer hiring october 2015 of "unclaimed property" of Holocaust victims became a major issue for UBS in the mids, and a series of revelations in brought the issue to the forefront of national attention in and UBS confirmed that a large number of accounts had gone unclaimed as a result of the bank's policy of requiring death certificates from family members to claim the contents of the account.
UBS came under significant click at this page, particularly from American politicians, to compensate Holocaust survivors who were making claims against the bank. In JanuaryChristoph Meilia night watchman at the Union Bank of Switzerland, found employees shredding archives compiled by a subsidiary that had extensive dealings with Download poker per mac Germany.
The shredding was in direct violation of a then-recent Swiss law adopted in December protecting such material. UBS acknowledged that it had bonus senza deposito playtech a deplorable mistake", but an internal historian maintained that the destroyed archives were unrelated to the Holocaust. Both proceedings were discontinued by the District Attorney in September Meili was suspended from his job Позвольте largest online casino malaysia многому the security company that served UBS, following a criminal investigation.
UBS opened branches and acquired a series of banks in Switzerland in the following years, growing from 31 offices in to 81 offices by the early s. Chemiewhich made UBS one of the strongest banks in Europe. By the s, Union Bank of Switzerland established a position as a leading European underwriter of eurobonds. Union Bank of Switzerland entered the s as the largest and most conservative of the three large Swiss Banks.
InCredit Suisse outbid Union Bank of Switzerland for Switzerland's Swiss Volksbankthe fifth largest bank in Switzerland which had run into financial difficulties in the early s. During the mids, Union Bank of Switzerland came under fire from online casino dealer hiring october 2015 shareholders critical of its conservative management and lower return on equity. Martin Ebner, through his investment trust, BK Vision, became the largest shareholder in Union Bank of Switzerland and attempted to force a major restructuring of the bank's operations.
At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively. Also referred to as the "New UBS" to distinguish itself from the former Union Bank of Switzerland, online casino dealer hiring october 2015 combined bank became the second largest in the world at the time, behind only the Bank of Tokyo-Mitsubishi.
Union Bank of Switzerland had a stronger retail and commercial banking business in Switzerland, while both banks had strong asset management capabilities. Its collapse in led to a bailout by major banks and investment houses, and resulted in massive losses for UBS at a time when it had merged with Swiss Bank Corporation. UBS, suffering criticism for its conservative business model, was looking for ways to catch up to its key Swiss rivals and viewed LTCM as the type of client that could help accelerate the bank's growth.
The acquisition pushed UBS to the top wealth and asset management firm in the world. However, by the end online casino dealer hiring october 2015UBS began to experience changing fortunes.
After Moelis, other notable departures included investment banking co-head Jeff McDermott in early and, as the financial crisis set in, other money bingo kindergarten bankers such as Oliver Sarkozy online casino dealer hiring october 2015 early and Ben Lorello in At the beginning ofUBS became the first Wall Street firm to announce a heavy loss in the subprime mortgage sector as the subprime mortgage crisis began to develop.
Before that time, there was little understanding of the troubles at DRCM or the massive expansion of risk engineered by the investment banking division under the leadership of the newly placed CEO Huw Jenkins.
DRCM, which was a large internal hedge fundhad been started with much publicity in and invested money both on behalf of UBS and some of its clients.
DRCM had been formed in large part to keep some of the bank's traders from defecting to hedge fundsas well as to create a position for John Costaswho had been instrumental in creating UBS's successful investment banking business in the U.
DRCM hired a large team of professionals, many of whom were attracted from the investment bank with large compensation packages. 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 However, the bank's problems continued through the end ofwhen the bank reported its first quarterly loss in over five years.
UBS cut its dividend in order to online casino dealer hiring october 2015 its traditionally high Tier 1 capital ratio, seen by investors as a key to its credibility as the world's largest wealth management company.
This ultimately proved very costly to UBS. By the spring ofUBS announced online casino dealer hiring october 2015 management restructuring and initiated a plan to return to profitability. Jerker Johanssonthe head of the investment bank division, resigned in April and was replaced by Alex Wilmot-Sitwell and Carsten Kengeter. Additionally, the bank's chairman, Peter Kurerwould no longer receive any extra variable compensation, only a cash salary and a fixed allotment of shares that could not be sold for four years.
By the summer ofUBS was showing increased signs of stabilization. In AugustUBS launched a new advertising campaign featuring the slogan: After the online casino dealer hiring october 2015 of almost 5, jobs, UBS announced on 23 August that it was further cutting another 3, positions in order to "improve operating efficiency" and save CHF 1. The firm online casino dealer hiring october 2015 seen profits fall due to the rise of the Swiss franc.
On 30 OctoberOnline casino dealer hiring october 2015 announced that it was cutting 10, jobs worldwide in an effort to slim down its investment banking operations, of which 2, would be in Switzerlandfollowed by the United States and Great Britain.
This percent staff cut would make overall staff count come down from 63, to 54, For comparison, the peak employment level in before the financial crisis was 83, In Maymedia reports click to see more 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.
In JuneHubertus Kuelps, group head of communications and branding, announced a new branding campaign. The new campaign is called "it's time" and was launched in September The campaign featured portrait photography read article photographer Annie Leibovitz.
As it exists today, UBS represents a conglomeration of dozens of individual firms, many of which date back to the 19th century. The following is a visual illustration of the company's major mergers and acquisitions and historical predecessors, although this is not necessarily a comprehensive list: Bank in Winterthur est.
Chase Investors Management Corporation est. The Board of directors is the most senior corporate body with ultimate responsibility for the strategy and the management of the company and for the appointment and supervision of its executive management. As of 26 Mayits members were: Chairman Marcel Ospel did not apply for re-election at the annual general meeting of shareholders held on 23 Apriland was succeeded by Peter Kurerwho was general counsel.
Former Bundesbank president Axel A. Weber was nominated in mid for election to the board at the annual online casino dealer hiring october 2015 and, at that time, intended to be elected as a chairman of the board after Villiger's retirement in
Online casino dealer hiring october 2015
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