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.
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.
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 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.
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.
The firm combines deep market knowledge with access to both traditional and alternative investments. UBS's investment offerings include:
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.
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:
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:
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.
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:
UBS Group AG uses a dual board structure as required by Swiss law. The board of directors delegates business management to the executive board.
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.
The unit, called 23 Wall, is led by JPMorgan veteran Andy Cohen and focuses on about 700 families worth more than $4.5 trillion.
For Asian Americans, family culture can both hinder and help advancement.
Jonathan Kesselman is opening an independent practice, Kesselman Wealth Management, in Westlake, Ohio.
The executive team under Lindsay Hans and Eric Schimpf is taking shape; Ken Correa takes on an expanded role as head of business and client development, while Erik Vatter was named head of advisor development.
San Jose-based O’Connor & Associates has $875 million in client assets; Garden City-based Cuneo Denihan & Associates has almost $1 billion in assets.
Despite the broader slowdown in recruiting over the first three months of the year, the RIA and independent broker-dealer channels have continued to bring on experienced advisors at a steady pace.
But the bank warns that it faces billions in potential costs, including about $13 billion in markdowns on Credit Suisse assets and up to $4 billion in legal costs.
Trevor Murray is seeking to reinstate a $900,000 jury verdict he won on allegations that he was fired for refusing to skew his reports to help the firm’s business strategies.
The failed bank, which had about $290 billion in wealth management assets, will increase JPMorgan’s reach to high-net-worth clients in what it deems attractive locations.
Naratil will become the firm's chief financial officer and lead the division that will oversee the Credit Suisse merger, a Swiss newspaper reports.
Mark Friedman and Mitchell Peters, who are joining RBC's San Francisco office, had been affiliated with First Republic since 2017.
While the firm added $28 billion in new funds from clients during the quarter, revenue at the wealth business fell short of estimates.
James Forsyth and Steven Miller, who operate as the Valencia Group, will be Steward Partners' first team in the Los Angeles metropolitan area.
A big part of working with artists and entertainers is helping them keep their feet on the ground while they're reaching for the stars.
The redemption announcement comes after the UK-based lender said it had erroneously sold $15 billion more structured notes and ETNs over the course of about a year than it had registered for.
