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 biggest team move to Wells Fargo Advisors this year highlights its efforts to court large ensembles, as well as UBS's continuing issues with advisor retention.
With nearly $90 billion in client assets, the Palo Alto-based fintech is eyeing an addressable market of digital natives projected to reach $140 trillion by 2045.
Jonathan Cave brings decades of experience from CH Investment Partners, Merrill Lynch, and UBS to a newly created position at the high-net-worth RIA.
Meanwhile, UBS to lay off 58 in New Jersey early next year.
Elsewhere, Indianapolis-headquartered indie Sapient Capital nabbed a $1 billion JPMorgan advisor in a recruitment first, while another duo also left the wirehouse to join Wells Fargo.
An advisor trio has also splintered off from Raymond James to another firm in Florida, while Janney adds $800 million in assets with a double addition.
The Munster Freeman Group has joined the wirehouse in California, following another billion-dollar team's departure from Merrill Lynch last month.
Under a newly created position, Leshinsky will lead Cresset’s national strategy for attracting top advisory teams as the firm expands its executive ranks and surpasses $78 billion in assets.
'Tis the season for wirehouses to roll out pay plans, known as grids, and sing their praises to tens of thousands of employee financial advisors.
Former $6B managing directors Cleary and Devine's two-decade partnership drives 71 West Capital Partners.
Merrill has also nabbed a Morgan Stanley team in Georgia, while Raymond James lured multiple breakaway teams to its employee advisor channel.
Janney has also made its Texas debut with an ex-RBC advisor group, while UBS hires an experienced advisor from Morgan Stanley.
The self-described growth accelerator announced its newest hires, with experience from UBS and United Capital, as it continues to expand support for RIA partners.
Billionaire investor Bill Ackman and other members of New York's wealthy elite are offering their support.
Meanwhile, the New York Post reports giant bank thinking of leaving Switzerland.
