Full History Of UBS In Timeline From 1912

4 hours ago : UBS Faces Equities Dump, Trading Head Departure, and AI Savings for Sage.

UBS experienced CTAs dumping equities due to Middle East conflict. Their new high yield trading head is leaving. UBS highlights AI's time-saving benefits for Sage customers, planning to monetize it.

1912: Establishment of Eastman Dillon & Co.

Eastman Dillon & Co. was established in 1912.

1912: Merger to form Union Bank of Switzerland

In 1912, the Bank of Winterthur and Toggenburger Bank merged to create the Union Bank of Switzerland (UBS).

1912: Union Bank of Switzerland Formed

In 1912, the Union Bank of Switzerland emerged when the Bank in Winterthur merged with the Toggenburger Bank.

1914: Establishment of Blyth & Co.

Blyth & Co. was established in 1914 as Blyth, Witter & Co.

1917: UBS Completed Construction of New Headquarters

In 1917, Union Bank of Switzerland (UBS) completed the construction of its new headquarters, Münzhof, in Zurich.

1917: Swiss Bankverein changes name to Swiss Bank Corporation (SBC)

In 1917, the English name of the bank, originally Swiss Bankverein, was changed to Swiss Bank Corporation (SBC).

1918: Recovery After World War I

By the end of 1918, Swiss Bank Corporation (SBC) had recovered from losses during World War I and surpassed CHF 1 billion in total assets.

1920: Expansion of Swiss Bank Corporation

By 1920, Swiss Bank Corporation (SBC) grew to 2,000 employees.

1921: Name Change to Union Bank of Switzerland (UBS)

In 1921, the Swiss Banking Association changed its name to Union Bank of Switzerland (UBS).

1923: UBS Established Offices Throughout Switzerland

By 1923, Union Bank of Switzerland (UBS) had established offices throughout Switzerland.

1928: Establishment of Interhandel

Interhandel was established in 1928.

1928: Establishment of J.C. Bradford & Co.

J.C. Bradford & Co. was established in 1928.

1929: Stock Market Crash of 1929

In 1929, The stock market crash of 1929 and the Great Depression severely impacted Swiss Bank Corporation (SBC).

1932: Establishment of First Boston

First Boston was established in 1932.

1934: Banking Law of 1934

In 1934, Swiss banking secrecy was codified by the Banking Law of 1934.

1936: Swiss Franc Devaluation

In 1936, Swiss Bank Corporation (SBC) saw its assets fall due to the major devaluation of the Swiss franc during the Great Depression.

1937: Adoption of Three-Keys Logo

In 1937, Swiss Bank Corporation (SBC) adopted its three-keys logo, symbolizing confidence, security, and discretion.

1937: UBS Established Intrag AG

In 1937, Union Bank of Switzerland (UBS) established Intrag AG, an asset management business responsible for investment trusts (i.e., mutual funds).

1938: Establishment of Mitchell Hutchins

Mitchell Hutchins was established in 1938.

1939: SBC Opens New York Office

On the eve of World War II in 1939, Swiss Bank Corporation (SBC) opened an office in New York City to safeguard assets.

1939: Establishment of Union Securities

Union Securities was established in 1939 as a spin-off from J. & W. Seligman & Co.

1945: SBC Acquired Basler Handelsbank

In 1945, Swiss Bank Corporation (SBC) acquired the Basler Handelsbank (Commercial Bank of Basel).

1945: Acquisition of Basler Handelsbank

In 1945, UBS acquired Basler Handelsbank, which was established in 1862.

1945: Acquisition of Eidgenössische Bank

In 1945, UBS acquired Eidgenössische Bank, which was established in 1863.

1946: Establishment of S. G. Warburg & Co.

S. G. Warburg & Co. was established in 1946.

1950: UBS Grows to 31 Offices

In 1950, Union Bank of Switzerland (UBS) operated with 31 branch offices in Switzerland.

1951: Argor SA Founded

In 1951, Argor SA, a Swiss precious metals refinery, was founded in the canton of Ticino.

1960: UBS Acquired Stake in Argor SA

In 1960, Union Bank of Switzerland (UBS) acquired an 80% stake in Argor SA, a Swiss precious metals refinery.

1961: SBC Acquired Banque Populaire Valaisanne

In 1961, Swiss Bank Corporation (SBC) acquired Banque Populaire Valaisanne and Banque Populaire de Sierre.

1962: UBS Becomes Largest Bank in Switzerland

By 1962, Union Bank of Switzerland (UBS) reached CHF 6.96 billion of assets, becoming the largest bank in Switzerland.

1965: SBC Assets Exceed CHF 10 Billion

By 1965, Swiss Bank Corporation (SBC) assets exceeded CHF 10 billion.

1967: Acquisition of Interhandel

In 1967, UBS acquired Interhandel, which was established in 1928.

1967: UBS Acquired Interhandel

In 1967, Union Bank of Switzerland (UBS) acquired Interhandel, making it one of the strongest banks in Europe.

1970: SBC Opened Branch Office in Tokyo

In 1970, Swiss Bank Corporation (SBC) opened a full branch office in Tokyo.

1972: Establishment of Chase Investors Management Corporation

In 1972, Chase Investors Management Corporation was established as a subsidiary.

1975: Acquisition of Mitchell Hutchins

In 1975, UBS acquired Mitchell Hutchins, which was established in 1938.

1977: Establishment of O'Connor & Associates

O'Connor & Associates was established in 1977.

1986: Acquisition of Phillips & Drew

In 1986, UBS acquired Phillips & Drew, which was established in 1895 as G.A. Phillips & Co.

1986: Major Acquisitions

In 1986, Union Bank of Switzerland (UBS) made two major acquisitions: Phillips & Drew and Deutsche Länderbank.

1988: Acquisition of First Boston

In 1988, UBS acquired First Boston, which was established in 1932.

1989: Establishment of Brinson Partners

Brinson Partners was established in 1989.

1991: Purchase in the United States

In 1991, Union Bank of Switzerland made its first purchase in the United States with Chase Investors Management Corporation, the asset management business of Chase Manhattan Bank, which managed over US$30 billion in assets.

1992: SBC Acquired O'Connor & Associates

In 1992, Swiss Bank Corporation (SBC) acquired O'Connor & Associates, a Chicago-based options trading firm.

1992: Acquisition of O'Connor & Associates

In 1992, UBS acquired O'Connor & Associates, which was established in 1977.

1993: Failed Acquisition of Swiss Volksbank

In 1993, Credit Suisse outbid Union Bank of Switzerland for Switzerland's Swiss Volksbank, making Credit Suisse the largest bank in Switzerland.

1994: SBC Acquired Brinson Partners

In 1994, Swiss Bank Corporation (SBC) acquired Brinson Partners, an asset management firm, for US$750 million.

1994: Acquisition of Brinson Partners

In 1994, UBS acquired Brinson Partners, which was established in 1989.

1994: Purchase of Smaller Swiss Banks

In 1994, prior to the merger with Swiss Bank Corporation, UBS purchased a group of smaller Swiss banks.

1995: SBC Acquired S.G. Warburg & Co.

In 1995, Swiss Bank Corporation (SBC) acquired S.G. Warburg & Co., a British investment banking firm, for US$1.4 billion.

1995: Acquisition of Kidder, Peabody & Co.

In 1995, UBS acquired Kidder, Peabody & Co., which was established in 1864.

1995: Acquisition of S. G. Warburg & Co.

In 1995, UBS acquired S. G. Warburg & Co., which was established in 1946.

1996: Issue of "unclaimed property" of Holocaust victims

In 1996 and 1997, the issue of "unclaimed property" of Holocaust victims became a major issue for UBS.

1996: Rebuffed Merger and Shareholder Revolt

In 1996, Credit Suisse approached Union Bank of Switzerland about a merger, which UBS rebuffed. Subsequently, a shareholder revolt led by Martin Ebner resulted in the replacement of UBS's chairman.

1996: Purchase of Cantonal Bank of Appenzell-Ausserrhoden

In 1996, Union Bank of Switzerland purchased the Cantonal Bank of Appenzell-Ausserrhoden.

January 1997: Christoph Meili reveals destruction of documents

In January 1997, Christoph Meili, a night guard at the Union Bank of Switzerland (precursor of UBS) in Zürich, revealed that bank officials were destroying documents about orphaned assets. These assets were believed to be the credit balances of Nazi German and Jewish clients attained during World War II.

December 1997: Merger Announcement

On December 8, 1997, Union Bank of Switzerland and Swiss Bank Corporation announced an all-stock merger, creating UBS AG.

1997: SBC Acquired Dillon, Read & Co.

In 1997, Swiss Bank Corporation (SBC) acquired Dillon, Read & Co., a U.S. bulge bracket investment bank, for US$600 million.

1997: Acquisition of Dillon, Read & Co.

In 1997, UBS acquired Dillon, Read & Co., which was established in 1832.

1997: Acquisition of Schröder, Münchmeyer, Hengst & Co.

In 1997, Union Bank of Switzerland acquired Schröder, Münchmeyer, Hengst & Co. from Lloyds Bank to improve access to the German investment banking and private wealth management markets.

1997: Revelations Regarding Unclaimed Accounts

In 1997, a series of revelations brought the issue of "unclaimed property" of Holocaust victims to the forefront of national attention and the issue of UBS's handling of unclaimed accounts was largely criticized.

1997: Creation of "New UBS"

In 1997, following the merger, the combined bank was referred to as the 'New UBS'. It became the second largest in the world and the world's largest money manager with approximately US$910 billion in assets under management.

August 1998: Settlement reached in lawsuit

In August 1998, a settlement of US$1.25 billion was reached after a US$2.56 billion lawsuit was filed against UBS and other Swiss banks on behalf of the Jewish victims of the Holocaust.

1998: Costas Becomes Head of Fixed Income Trading

In 1998, John P. Costas became head of Fixed Income Trading at Union Bank of Switzerland.

1998: Merger of Union Bank of Switzerland and Swiss Bank Corporation

In 1998, Union Bank of Switzerland and Swiss Bank Corporation merged to form a single company known as "UBS".

1998: UBS-SBC Merger

The 1998 UBS-SBC merger and subsequent restructuring resulted in the combination of three major asset management operations.

November 2000: Merger with Paine Webber

In November 2000, UBS merged with Paine Webber, an American stock brokerage and asset management firm, making UBS the top wealth and asset management firm globally.

2000: Acquisition of J.C. Bradford & Co.

In 2000, UBS acquired J.C. Bradford & Co., which was established in 1928.

2000: Dillon Read Name Dropped

In 2000, after the merger of SBC and Union Bank of Switzerland, the Dillon Read name was dropped during the restructuring of the new UBS.

2000: Credit Suisse Acquisition of Donaldson, Lufkin & Jenrette

In 2000, rival Credit Suisse was establishing itself as a major player on Wall Street with the acquisition of Donaldson, Lufkin & Jenrette.

2000: UBS Investment Team Merged

In 2000, the investment teams of UBS Asset Management, Phillips & Drew, and Brinson Partners were merged.

March 2001: UBS Paine Webber Renamed

In March 2001, Paine Webber brokerage business was renamed UBS Paine Webber after being acquired by UBS.

December 2001: Investment Banking Division Renamed

In December 2001, UBS's investment banking division, originating in SBC's Warburg Dillon Read division, was renamed UBS Warburg.

2001: Ken Moelis Joins UBS

In 2001, Ken Moelis joined UBS from Donaldson Lufkin & Jenrette and brought over a team of 70 bankers, contributing to the build-out of UBS's investment banking operation in the United States.

2002: Expansion of Trading Floor

In 2002, UBS expanded its Sales & Trading division's trading floor to cover 9,600 square meters (103,000 sq ft) with 12-meter (40 ft) arched ceilings.

2002: UBS Brands Consolidated

In 2002, the brands of UBS Global Asset Management, Phillips & Drew, and Brinson Partners were consolidated to become UBS Global Asset Management.

June 2003: UBS Rebranding

Starting on 9 June 2003, all UBS business groups, including UBS Paine Webber and UBS Warburg, were rebranded under the UBS moniker.

2003: UBS Ranks Fourth in Global Investment Banking Fees

By 2003, UBS had risen to fourth place in global investment banking fees, earning US$2.1 billion.

2003: UBS sponsors Alinghi sailing ship, winner of the America's Cup

In 2003, UBS sponsored the Alinghi sailing ship, which won the America's Cup.

2003: Renaming to UBS Wealth Management USA

In 2003, the Paine Webber name was retired, and the business was renamed UBS Wealth Management USA. UBS took a CHF 1 billion write-down for the loss of goodwill associated with the retirement of the Paine Webber brand.

2004: Hiring of Senior Bankers

From 2001 through 2004, Costas and Moelis hired more than 30 senior U.S. bankers, with UBS spending as much as US$600 million to US$700 million.

2004: Fine by the FED

In 2004, UBS was fined $100 million by the FED for trading in dollars with Iran and other sanctioned countries.

2005: Dillon Read Name Reintroduced

In 2005, the Dillon Read name was reintroduced as Dillon Read Capital Management, UBS's hedge fund operations.

2005: Costas Heads Dillon Read Capital Management

In late 2005, John Costas headed a new hedge fund unit within UBS known as Dillon Read Capital Management.

2006: Expansion of Fixed Income Risk

During 2006, UBS saw a significant expansion of fixed income risk under the leadership of Huw Jenkins.

2006: Dillon Read Capital Management Profit

In 2006, Dillon Read Capital Management generated a profit of US$720 million for UBS.

2006: Joint Venture in China and Shifting Fortunes

In 2006, UBS set up a joint venture in China (UBS Securities, China branch). However, by the end of 2006, UBS began to experience changing fortunes.

2006: Named one of the 100 Best Companies for Working Mothers

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.

2006: Fraud and misconduct in its residential mortgage-backed securities offerings

In August 2023, UBS settled with the US Justice Department by agreeing to pay $1.43 billion in civil penalties regarding allegations of fraud and misconduct in its residential mortgage-backed securities offerings it offered in 2006 and 2007.

March 2007: Moelis's Departure

In March 2007, Ken Moelis announced that he was leaving UBS and founded Moelis & Company.

May 2007: Closure of Dillon Read Capital Management

In May 2007, UBS announced the closure of its Dillon Read Capital Management (DRCM) division after taking over its positions.

December 2007: Capital Infusion

In December 2007, UBS raised US$11.5 billion of capital, including US$9.7 billion from the Government of Singapore Investment Corporation (GIC).

2007: Expansion of Fixed Income Risk

During 2007, UBS saw a significant expansion of fixed income risk under the leadership of Huw Jenkins.

2007: UBS peak employment level in 2007

In 2007, before the 2008 financial crisis, UBS had a peak employment level of 83,500.

2007: Fraud and misconduct in its residential mortgage-backed securities offerings

In August 2023, UBS settled with the US Justice Department by agreeing to pay $1.43 billion in civil penalties regarding allegations of fraud and misconduct in its residential mortgage-backed securities offerings it offered in 2006 and 2007.

April 2008: Write-Down of Investments

In April 2008, UBS announced that it was writing down a further US$19 billion of investments in subprime and other mortgage assets.

October 2008: Capital Infusion from Swiss Confederation

In October 2008, UBS announced that it had placed CHF 6 billion of new capital with the Swiss Confederation.

November 2008: Transfer of Illiquid Securities

In November 2008, the Swiss National Bank and UBS made an agreement to transfer approximately US$60 billion of illiquid securities and assets to a separate fund entity.

2008: UBS Managed Losses with Asset Relief Program

During the 2008 financial crisis, UBS managed heavy losses using an asset relief recovery program.

2008: Banking secrecy strengthened

From 1934 to 2008, over two dozen Swiss banking statutes were drafted to strengthen banking secrecy at UBS Switzerland AG.

2008: UBS struggled during the 2008 financial crisis

In 2007, before the 2008 financial crisis, UBS had a peak employment level of 83,500.

2008: GIC Private Limited invested in UBS during the subprime mortgage crisis

In 2008, during the subprime mortgage crisis, GIC Private Limited invested CHF 11 billion into UBS to help bail it out, thus becoming the largest single shareholder.

2008: Swiss government sold its stake in UBS

In 2008, the Swiss government sold its CHF 6 billion stake in UBS at a large profit, after having purchased convertible notes earlier in the year to help UBS clear toxic assets from its balance sheets.

2008: False accounting dating back to 2008

In September 2011, Kweku Adoboli was charged with fraud by abuse of position and false accounting dating as far back as 2008.

2008: Departure of Oliver Sarkozy

In early 2008, as the financial crisis set in, high-profile banker Oliver Sarkozy departed from UBS.

2008: UBS included on Business Week's The Best Places to Launch a Career 2008

UBS was included on Business Week's The Best Places to Launch a Career 2008, and ranked No. 96 out of the 119 total companies listed.

February 2009: Losses in 2008

In February 2009, UBS announced that it had lost nearly CHF 20 billion (US$17.2 billion) in 2008.

April 2009: Sale of UBS Pactual

In April 2009, UBS announced that it agreed to sell its Brazilian financial services business, UBS Pactual, for approximately US$2.5 billion to BTG Investments.

2009: Thomson Reuters Extel survey ranked UBS number one

A Thomson Reuters Extel survey ranked UBS number one in all three of the key disciplines of research: Research (tenth year); Sales (ninth year running); and Equity Trading and Execution (up from second place in 2009). UBS was also named as the number one leading pan-European brokerage firm for economics and strategy research.

2009: Departure of Ben Lorello

In 2009, Ben Lorello was among the high-profile bankers who departed from UBS.

2009: Agreement with U.S. Internal Revenue Service (IRS)

In 2009, UBS reached a multilateral agreement with the U.S. Internal Revenue Service (IRS). This agreement established a line of communication between the tax agency and registered Swiss banks.

2009: UBS placed US$3.5 billion of shares with investors

In mid-2009, taking advantage of improved stock market conditions, UBS placed US$3.5 billion of shares with a small number of large institutional investors. CEO Oswald Grübel announced a plan to build a new UBS focused on high standards, integrity, and integrated wealth management, investment banking, and asset management services.

2009: UBS leads Swiss Market

Since 2009, UBS has been the leading provider of retail and commercial banking services in Switzerland.

January 2010: UBS issues new code of conduct

In January 2010, UBS issued a new code of conduct and business ethics, which all employees were encouraged to sign. The code addresses issues such as financial crime, competition, confidentiality, human rights, and environmental issues.

February 2010: UBS topped the charts for the ninth year in a row in Institutional Investor's annual ranking of Europe's most highly regarded equity analysts

On 2 February 2010, UBS topped the charts for the ninth year in a row in Institutional Investor's annual ranking of Europe's most highly regarded equity analysts.

May 2010: UBS Investment Bank voted the leading pan-European brokerage firm for equity and equity linked research for a record tenth successive year

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.

August 2010: UBS launched a new advertising campaign and sponsorship agreement

In August 2010, UBS launched a new advertising campaign with the slogan "We will not rest" and signed a global sponsorship agreement with Formula 1.

October 2010: UBS announced third quarter net profit

On 26 October 2010, UBS announced a third quarter net profit of US$1.65 billion, beating analyst estimates, and reported net new funds of CHF 900 million in its private bank.

2010: Agreement with U.K. HM Revenue and Customs

In 2010, UBS reached a multilateral agreement with the U.K. HM Revenue and Customs. This agreement established a line of communication between the tax agency and registered Swiss banks.

June 2011: UBS considers moving North American headquarters back to New York City

In June 2011, UBS announced it was considering relocating its North American headquarters back to New York City and was searching for office spaces in Midtown and the rebuilt World Trade Center.

August 2011: UBS announced job cuts

On 23 August 2011, UBS announced it was cutting another 3,500 positions to improve operating efficiency and save CHF 1.5 to CHF 2 billion a year. 45% of the job cuts would come from the investment banking unit and the rest from wealth management and asset management divisions. The firm has seen profits fall due to the rise of the Swiss franc.

September 2011: UBS announced massive loss due to unauthorized trading

On 15 September 2011, UBS became aware of a massive loss, originally estimated at US$2 billion, allegedly due to unauthorized trading by Kweku Adoboli. On 24 September 2011, UBS announced chief executive Oswald Grübel's resignation and the appointment of Sergio Ermotti as his replacement.

2011: UBS expands global compliance database

In 2011, UBS expanded its global compliance database to include environmental and social issues. Data was provided by RepRisk, a global research firm specializing in environmental, social and corporate governance risk analytics and metrics. This effort was intended to mitigate environmental and social risks and standardize due diligence processes.

2011: 2011 rogue trader scandal

In 2011, UBS was affected by the 2011 rogue trader scandal resulting in a US$2 billion trading loss.

October 2012: UBS announced job cuts worldwide

On 30 October 2012, UBS announced it was cutting 10,000 jobs worldwide, with 2,500 in Switzerland, to slim down its investment banking operations.

December 2012: UBS was fined for its role in the Libor scandal

On 19 December 2012, UBS was fined $1.5 billion for its role in the Libor scandal over accusations that it tried to rig benchmark interest rates.

2012: Restructuring of investment bank from 2012 to 2018

From 2012 to 2018, the investment bank, led by Andrea Orcel, initiated a major restructuring, firing over 10,000 employees and focusing on European underwriting business instead of traditional dealmaking.

2012: UBS Reorientation Around Wealth Management

In 2012, UBS reoriented itself around wealth management advisory services and limited its sell-side operations.

May 2013: Switzerland to amend banking secrecy laws

In May 2013, Switzerland announced it would amend banking secrecy laws applicable to UBS Switzerland AG. This amendment would allow the disclosure of hidden client accounts to investigative authorities under specific conditions related to double taxation agreements.

July 2013: UBS establishes gold storage in Singapore

In July 2013, UBS established a gold storage facility and depository in Singapore. This facility caters to high net worth clients in Hong Kong, China, and Malaysia, offering high levels of secrecy and safety for their assets in exchange for high fees and commissions.

October 2013: UBS Wealth Management voted Best Global Private Bank

On 31 October 2013, UBS Wealth Management was voted the Best Global Private Bank by Professional Wealth Management.

January 2014: UBS became the largest private banker in the world

On 6 January 2014, it was reported that UBS had become the largest private banker in the world, with $1.7 trillion in assets.

November 2014: UBS was fined for currency manipulation

In November 2014, regulators including the FCA and CFTC fined UBS, along with other banks, for currency manipulation.

November 2014: UBS Group AG shares listed on NYSE and SIX Swiss Exchange

In November 2014, shares in UBS Group AG were listed and started trading as a new holding company at the New York Stock Exchange (NYSE) and the SIX Swiss Exchange.

2014: UBS Wealth Management retains Best Global Private Bank title

In 2014, UBS Wealth Management retained the title of Best Global Private Bank by Professional Wealth Management, while also being recognized as the Best Private Bank for Philanthropy Services, and Best Global Brand in Private Banking.

2014: UBS receives Euromoney's Awards for Excellence

In 2014, the Group received Euromoney's Awards for Excellence 2014 as the Best global bank, and as the Best Bank in Switzerland.

2014: UBS AUM Decrease

UBS's assets under management (AUM) in 2015 saw a 1% decrease compared to 2014.

January 2015: UBS AG shares delisted from NYSE

Upon application and with effect as of 14 January 2015, the shares of UBS AG, a subsidiary of the UBS Group AG, were delisted from the NYSE.

April 2015: UBS opens innovation lab in London

In April 2015, UBS opened an innovation lab at the Level39 technology accelerator space in London, signaling an early adoption of blockchain technology in financial services.

May 2015: UBS planned to sell Australian private banking division

In May 2015, media reports revealed UBS was planning to sell its Australian private banking division after a review of underperforming businesses.

2015: UBS Assets Under Management

In 2015, UBS's assets under management (AUM) amounted to US$1,737.5 billion, representing a 1% decrease compared to 2014.

2015: UBS Best Domestic Cash Manager Switzerland

In 2015, the international financial magazine Euromoney named UBS "Best Domestic Cash Manager Switzerland".

August 2016: UBS announces Utility Settlement Coin promotion

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).

October 2016: UBS Wealth Management wins Best Global Private Bank title for the 4th consecutive year

On 27 October 2016, for the 4th consecutive year, UBS Wealth Management won the Best Global Private Bank title, as well as the Best Private Bank in Asia award for the 5th consecutive year.

2016: UBS Wealth Management Invested Assets

As of the end of 2016, UBS Wealth Management's invested assets totalled CHF 977 billion.

2016: UBS retains its leading position in best private banking services overall

In 2017, UBS not only retained its leading position taken in 2016 in the main category best private banking services overall at the Euromoney's Private Banking Awards, but also received recognition as Western Europe's best bank for advisory 2017.

2016: UBS created "Utility Settlement Coin"

In late 2016, UBS created the digital currency "Utility Settlement Coin" (USC) and established a blockchain technology research laboratory in London.

February 2017: UBS Group AG and Northern Trust Corporation Agreement

In February 2017, UBS Group AG and the Northern Trust Corporation announced an agreement for the acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland.

June 2017: UBS Return on Invested Capital

In June 2017, UBS's return on invested capital was 11.1%, surpassing Goldman Sachs' 9.35% and JPMorgan Chase's 9.456%.

September 2017: Shareholders registered in the UBS share register

As of 30 September 2017, Chase Nominees Ltd, DTC (Cede & Co.), and Nortrust Nominees Ltd held significant portions of UBS's total share capital.

October 2017: Northern Trust Corporation Completed Acquisition

In October 2017, Northern Trust Corporation completed the acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland.

2017: UBS Integrated Equities, Fixed Income and Solutions

In 2017, UBS integrated Equities, Fixed Income and Solutions capabilities and hedge funds business within a new area named Investments.

2017: UBS recognized as Western Europe's best bank for advisory

In 2017, UBS not only retained its leading position taken in 2016 in the main category best private banking services overall at the Euromoney's Private Banking Awards, but also received recognition as Western Europe's best bank for advisory 2017.

2017: UBS Best Bank for Wealth Management

In 2017, UBS was named "Best Bank for Wealth Management in North America" at the Euromoney Awards for Excellence.

2017: UBS Best Domestic Cash Manager Switzerland

In 2017, the international financial magazine Euromoney named UBS "Best Domestic Cash Manager Switzerland".

2017: UBS was named in the category Global Winners as Best Private Bank in the World

UBS was named in the category Global Winners as Best Private Bank in the World 2017, and in the list of global best banks 2017, the Group received the award as Global Winner in the category World's Best Investment Banks 2017.

January 2018: UBS announced that it does not trade cryptocurrencies

In January 2018, UBS announced that it does not trade or expose clients to cryptocurrencies as it believes they have little to no elasticity, and are speculatively valued.

June 2018: UBS Corporate Structure

As of June 2018, UBS's corporate structure includes four divisions.

December 2018: UBS Lending Portfolio

As of 31 December 2018, UBS's lending portfolio reached US$131 billion.

December 2018: UBS Investment Bank Personnel

As of the end of December 2018, the personnel employed at UBS Investment Bank totalled 5,205, present in 33 countries.

December 2018: UBS Asset Management Invested Assets

At the end of December 2018, UBS Asset Management was responsible for US$781 billion of invested assets and the assets under administration were US$413 billion.

2018: UBS Ranked Among Top Investment Banks

According to a 2018 study by Coalition Research Institute, UBS was ranked among the top 10 of the world's investment banks.

2018: UBS Manages Largest Amount of Private Wealth

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.

2018: UBS Global Wealth Management Employment

As of the end of 2018, approximately 23,600 people worldwide were employed by UBS Global Wealth Management.

2018: UBS Invested Assets and Shareholder Equity

At the end of 2018, UBS' overall invested assets were $3.101 billion, shareholders' equity was $52.928 billion, and market capitalization was $45.907 billion.

2018: Ranked first on the Financial Secrecy Index

In 2018, Switzerland, including UBS, was ranked first on the Financial Secrecy Index. UBS was also the largest wealth manager in a majority of the top 25 countries on the 2018 Financial Secrecy Index.

2018: UBS digitally clones Daniel Kalt

In 2018, UBS digitally cloned Daniel Kalt, one of its chief economists. FaceMe created an interactive avatar of Kalt, and IBM's Watson AI technology was used to enable the avatar to answer clients' questions.

2018: UBS holds shares in HikVision

In 2018, UBS held 0.72% of shares in HikVision, which is a subsidiary of the Chinese military conglomerate CETC.

2018: UBS Ranked on Financial Secrecy Index

In 2018, UBS operations in Switzerland and the United States were respectively ranked first and second on the Financial Secrecy Index.

2018: UBS operations within the U.S. were ranked second on the Financial Secrecy Index

In 2018, UBS operations within the U.S. were ranked second on the Financial Secrecy Index, following UBS Switzerland AG. Within the European Union (E.U.), UBS operations maintain similar banking secrecy policies to Switzerland.

2018: UBS named in RobecoSAM's Industry group leader report

In 2018, for the third consecutive year, RobecoSAM named UBS in its Industry group leader report 2018 as the group leader in Diversified Financials for each of the industry groups represented in the Dow Jones Sustainability Index.

2018: UBS announced it does not trade cryptocurrencies and launched a blockchain trade finance platform

In January 2018, UBS announced it does not trade or expose clients to cryptocurrencies. In early 2018, it partnered with IBM to launch a blockchain trade finance platform called "Batavia".

2018: UBS wins Best Global Private Bank title

UBS won the top prize again in 2018.

September 2019: UBS Largest Institutional Shareholders

As of September 2019, the details of UBS's largest institutional shareholders were not provided.

October 2019: UBS joins UN's Global Investors for Sustainable Development Alliance (GISD)

In October 2019, UBS joined the UN's Global Investors for Sustainable Development Alliance (GISD). UBS committed to raise US$5 billion (~$5.69 billion in 2024) of SDG-related impact investments by the end of 2021, aiming to create a measurable positive social or environmental impact.

2019: UBS listed as one of the Top 50 World's Most Attractive Employers

In 2019, UBS was listed as one of the Top 50 World's Most Attractive Employers Global Business Ranking 2019 by Universum Global Survey.

December 2020: UBS Presence in Major Financial Centers

As of December 2020, UBS is present in all major financial centers worldwide, including New York, London, Zürich, Berlin, Sydney, and Singapore.

April 2021: UBS reported a loss from the collapse of Archegos Capital Management

In April 2021, UBS reported a $774 million loss from the collapse of US investment fund Archegos Capital Management.

July 2021: UBS announced continuation of flextime and remote work

In July 2021, during the COVID-19 pandemic, UBS announced it would continue to allow for flextime and remote work by many employees.

December 2021: UBS convicted of "illegal banking activities" in France

In December 2021, UBS was criminally convicted by an appeals court in France for "illegal banking activities", money laundering and "aggravated tax fraud" and fined €1.8 billion. UBS has appealed the decision.

2021: Acquisition of ICO Markets Exchange Clearing Limited

In 2021, UBS acquired ICO Markets Exchange Clearing Limited as a shareholder.

2021: UBS committed to raise US$5 billion of SDG-related impact investments

UBS committed to raise US$5 billion (~$5.69 billion in 2024) of SDG-related impact investments by the end of 2021, aiming to create a measurable positive social or environmental impact.

January 2022: UBS agreed to acquire Wealthfront

In January 2022, UBS agreed to acquire Wealthfront for $1.4 billion to accelerate its growth in the US.

September 2022: UBS and Wealthfront mutually terminated acquisition agreement

In September 2022, UBS and Wealthfront mutually terminated their acquisition agreement. UBS announced it would instead invest in a $69.7 million note convertible into Wealthfront shares.

November 2022: UBS's comments at the Global Financial Leaders' Investment Summit

In November 2022, at the Global Financial Leaders' Investment Summit, Colm Kelleher of UBS responded to remarks made by Fang Xinghai of the China Securities Regulatory Commission, affirming UBS's positive view of China and downplaying the influence of American press.

March 2023: UBS agreed to buy Credit Suisse

In March 2023, UBS agreed to buy Credit Suisse for $3.25 billion in an emergency rescue deal.

April 2023: Sergio Ermotti returned as chief executive officer of UBS

On 29 March 2023, it was announced that Sergio Ermotti is returning as chief executive officer from 5 April 2023, replacing Ralph Hamers.

June 2023: UBS completed the acquisition of Credit Suisse

UBS completed the acquisition of Credit Suisse on 12 June 2023.

July 2023: UBS was fined for Credit Suisse's failure in risk management

In July 2023, UBS was fined $269 million by the Federal Reserve and $119 million by the Bank of England for Credit Suisse's failure in risk management related to Archegos's collapse.

August 2023: UBS announced money outflows have stopped at Credit Suisse

In August 2023, UBS announced that money outflows have stopped at Credit Suisse.

August 2023: UBS settled with the US Justice Department

In August 2023, UBS settled with the US Justice Department by agreeing to pay $1.43 billion in civil penalties regarding allegations of fraud and misconduct in its residential mortgage-backed securities offerings.

September 2023: US Department of Justice investigated UBS for Credit Suisse's compliance failures

In September 2023, the US Department of Justice (DOJ) started investigating UBS for Credit Suisse's alleged compliance failures which enabled its Russian clients to dodge sanctions. Later UBS stated that the bank is not aware of such a probe by the DOJ and that previous reports on such allegations were incorrect.

September 2023: UBS profited from the takeover of Credit Suisse

In early September 2023, UBS had clearly profited from the takeover as its stocks were increasingly valuable. From April to July, UBS made a record profit of 29.2 billion CHF and its stocks, which were initially depressed after the fusion, were traded at much higher prices. The record profit was based on the difference between the purchase price of Credit Suisse stocks and the apparently higher value of its assets.

2023: UBS Acquires Credit Suisse

In 2023, UBS acquired Credit Suisse.

2023: Beatriz Martin became chief group integration officer in 2023

In October 2025, UBS appointed Beatriz Martin as its chief operations officer, who had been the company's chief group integration officer since 2023. As part of the role, Martin will oversee the integration of Credit Suisse following its acquisition in 2023.

December 2024: UBS Shareholder Distribution

As of 31 December 2024, the geographical distribution of UBS's shareholders was recorded.

2024: UBS Lending Portfolio

In 2024, UBS's lending portfolio reached ~$161 billion.

2024: Value of 1995 S.G. Warburg & Co. Acquisition Adjusted for Inflation

In 2024, the equivalent value of the 1995 acquisition price of S.G. Warburg & Co. by SBC is approximately $2.62 billion.

2024: Value of 1997 Dillon, Read & Co. Acquisition Adjusted for Inflation

In 2024, the equivalent value of the 1997 acquisition price of Dillon, Read & Co. by SBC is approximately $1.09 billion.

2024: Estimated value of UBS's loss in 2021 in 2024 dollars

In April 2021, UBS reported a $774 million loss from the collapse of US investment fund Archegos Capital Management, equivalent to approximately $881 million in 2024.

2024: Asset Value in 2024

In December 1997, the merger of Union Bank of Switzerland and Swiss Bank Corporation resulted in the creation of UBS AG, a new bank with total assets of more than US$590 billion, which is equivalent to approximately $1.07 trillion in 2024.

2024: Estimated value of UBS's fine for the Libor scandal in 2024 dollars

In December 2012, UBS was fined $1.5 billion for its role in the Libor scandal, which is equivalent to approximately $2.02 billion in 2024.

2024: SDG-related impact investments

In October 2019, UBS joined the UN's Global Investors for Sustainable Development Alliance (GISD). UBS committed to raise US$5 billion (~$5.69 billion in 2024) of SDG-related impact investments by the end of 2021, aiming to create a measurable positive social or environmental impact.

2024: Estimated value of UBS's third quarter net profit in 2010 in 2024 dollars

UBS's third quarter net profit of US$1.65 billion in 2010 equates to approximately $2.31 billion in 2024.

April 2025: UBS removes restrictions on some sustainability funds

In April 2025, UBS Asset Management, overseeing $1.8 trillion in assets, removed restrictions on some sustainability funds investing in manufacturers of conventional weapons due to geopolitical tensions and rearmament.

May 2025: UBS agreed to pay to settle a U.S. Department of Justice investigation into Credit Suisse's assistance

In May 2025, UBS agreed to pay $511 million to settle a U.S. Department of Justice investigation into Credit Suisse's assistance to wealthy Americans in hiding over $4 billion in offshore accounts.

July 2025: Investigation into Credit Suisse's undisclosed Nazi accounts

In July 2025, Bloomberg News reported investigators had uncovered documents that suggested Credit Suisse did not disclose billions of dollars of assets held in accounts owned by Nazis and that the bank could be liable for between $5 billion to $10 billion. UBS opened its own investigation, hiring Neil Barofsky to complete a report on the matter. The U.S. Senate also opened an investigation.

October 2025: UBS appointed Beatriz Martin as its chief operations officer

In October 2025, UBS appointed Beatriz Martin as its chief operations officer.

December 2025: UBS manages US$7 trillion in assets

As of December 2025, UBS manages over US$7 trillion in assets, counting approximately half of The World's Billionaires among its clients.

January 2026: UBS Launches Wealth Advice Center Hub in Dallas

In January 2026, UBS began leasing 26,000 square feet of office space in Dallas, Texas, to launch its UBS Wealth Advice Center hub.

February 2026: UBS joins foreign banks expanding India global capability hubs

In February 2026, UBS joins foreign banks expanding India global capability hubs and opened a new global capability centre in the southern Indian city of Hyderabad.