UBS

Office address: 1285 Avenue of the Americas, New York, NY 10019
Website: ubs.com/us
Year established: 1862
Company type: financial services
Employees: 110,300+
Expertise: wealth management, investment banking, asset management, retirement planning, alternative investments, sustainable investing, corporate solutions, financial planning, risk management, capital markets
Parent company: UBS Group AG (Switzerland)
Key people: Sergio Ermotti (group CEO); Robert Karofsky, George Athanasopoulos, and Marco Valla (co-presidents); Aleksandar Ivanovic (president); Mike Dargan (group chief operations and technology officer); Todd Tuckner (group CFO)
Financing status: corporation

UBS is a leading global bank that specializes in serving high-net-worth clients and institutions. The company manages $6.6 trillion in invested assets and offers tailored financial advice and solutions to individuals, families, and institutions. Its US operations are headquartered in New York.

History of UBS

UBS traces its beginnings to 1862 in Switzerland, when Bank in Winterthur was created to help local business and manage a warehouse. Fifty years later, a merger with Toggenburger Bank formed Union Bank of Switzerland, which quickly grew its network and services across the country.

Global growth and new technologies

Swiss Bank Corporation, known as SBC, formed from several mergers in the late 1800s and soon set its sights beyond Switzerland. By 1898, SBC had opened a branch in London, showing its global ambitions.

Both Union Bank of Switzerland and SBC embraced new technology, such as adding machines and early computers. They also opened offices in major financial centers like New York, Tokyo, and Rio de Janeiro.

A major merger and US expansion

A turning point came in 1998, when Union Bank of Switzerland and SBC joined forces to create UBS. This merger brought together expertise in various areas which made UBS one of the world’s largest financial institutions.

In 2000, the company entered the US market in a big way by acquiring PaineWebber, an American brokerage and asset manager. This gave the firm a strong presence in New York and across the country.

UBS’ recent milestones and compliance focus

The company continued to grow, even through financial crises, and expanded its digital banking services worldwide. In 2023, it acquired Credit Suisse which strengthened its role as Switzerland’s largest universal bank.

By 2025, UBS increased checks on client money sources in Asia after a money-laundering scandal. The firm worked with Deloitte and KPMG and closed thousands of smaller accounts.

UBS products and services 

The firm combines deep market knowledge with access to both traditional and alternative investments. UBS's investment offerings include:

Wealth management

• personalized portfolio management: custom investment strategies for each client
• financial planning: goal-based advice for long-term growth
• retirement solutions: IRAs, 401(k) rollovers, and pension strategies
• philanthropy and giving: efficient ways to support charities

Asset management

• mutual funds: professionally managed investment funds
• ETFs: low-cost, diversified exchange-traded funds
• institutional asset management: solutions for pension funds and institutions
• platform solutions: advisory support for wealth managers

Investment bank

• capital raising: support for IPOs and bond offerings
• M&A advisory: guidance on mergers and acquisitions
• market research: insights and analysis for investors
• trading and liquidity: tailored execution for various asset classes

Alternative and sustainable investments

• hedge funds: access to alternative investment strategies
• private equity: investment in private companies
• real estate investments: global property opportunities
• ESG investing: options focused on environmental, social, and governance factors

UBS is also known for its strong digital platforms and global network. Clients benefit from disciplined risk management and a wide selection of investment choices.

Culture and corporate values

UBS states that its culture is the foundation for how the company works and adapts to change. The firm’s “three keys” represent the main values and guide daily actions:

1. pillars: capital strength, simplification and efficiency, risk management
2. principles: client centricity, connectivity, sustainable impact
3. behaviors: accountability with integrity, collaboration, innovation

UBS aims to create a supportive and flexible work environment for all employees. According to the company, its benefits are designed to help staff balance work and personal life:

• paid parental leave: 20 weeks for all caregivers in the US
• family support: backup childcare, eldercare, and flexible work options
• mental health resources: employee assistance program and mindfulness app
• physical wellness: fitness challenges and health programs
• financial education: regular events and resources for financial well-being
• community involvement: paid volunteer leave and donation matching
• cancer support: #WorkingWithCancer partnership and prevention programs
• lactation support: lactation rooms and paid time off for breastfeeding

UBS also offers regional programs to help employees manage work and family commitments. The company reports that it provides benefits that often go beyond legal requirements.

About Group CEO Sergio Ermotti and key people

Sergio P. Ermotti serves as group CEO of UBS Group AG and has been leading the executive board since 2023. Before this, Ermotti led the company from 2011 to 2020 and served as chair at Swiss Re. He also held senior roles at UniCredit Group and Merrill Lynch. He completed advanced management training at the University of Oxford.

The UBS Group Executive Board leads the company’s global operations and oversees key business areas:

• Robert Karofsky manages US strategy and client growth as co-president global wealth management and president UBS Americas
• George Athanasopoulos brings over 30 years in global markets as co-president – investment bank
• Marco Valla focuses on global banking and client solutions while serving as co-president – investment bank
• Aleksandar Ivanovic leads cross-divisional solutions and client engagement worldwide as president – asset management
• Mike Dargan drives digital platforms and innovation across the company in his role as group chief operations and technology officer
• Todd Tuckner oversees group finance, planning, and capital strategy as group CFO

UBS Group AG uses a dual board structure as required by Swiss law. The board of directors delegates business management to the executive board.

The future at UBS

In 2025, UBS experts shared practical strategies for family wealth conversations, focusing on values, legacy, and open communication. Judy Spalthoff and Libby Stantial explained how purposeful dialogue and programs like Emerging Successors help families prepare future inheritors. Their advice supports clients in building trust and guiding responsible wealth transitions across generations.

UBS leaders like Adrian Zuercher have also highlighted how new clients, especially younger generations and women, are driving demand for ESG and sustainable solutions. The company sees this shift as a sign that stewardship and responsible investing will play a bigger role in its future, as clients look for more return drivers and long-term value.