UBS Bank

UBS Group AG

Type	Aktiengesellschaft (AG) Public company
Traded as	SIX: UBSG SIX: UBSN : UBS
Industry	Banking, Financial services
Predecessor	Union Bank of Switzerland and Swiss Bank Corporation merged in 1998; PaineWebber merged in 2000
Founded	1862; 155 years ago (1862)
Headquarters	Zürich Basel
Area served	Worldwide
Key people	Axel A. Weber (Chairman) Sergio Ermotti (CEO)
Products	Investment Banking Investment Management Wealth Management Private Banking Corporate Banking Private Equity Finance and Insurance Consumer Banking Mortgages Credit Cards
Operating income	CHF 30.605 billion (2015)
Total assets	CHF 943 billion (2015)
Total equity	CHF 57.308 billion (2015)
Number of employees	60,099 (2015)
Capital ratio	14.5% (2015)
Website	UBS.com

Union Bank of Switzerland and Swiss Bank Corporation merged in 1998;

UBS AG is a Swiss global financial services company, incorporated in the Canton of Zurich, and co-headquartered in Zürich and Basel. The company provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients worldwide, and is generally considered to be a bulge bracket bank. In Switzerland, these services are also offered to retail clients. The name UBS was originally an abbreviation for the Union Bank of Switzerland, but it ceased to be a representational abbreviation after the bank's merger with Swiss Bank Corporation in 1998. The company traces its origins to 1856, when the earliest of its predecessor banks was founded. UBS has over CHF 2.2 trillion in invested assets, and remains a leading provider of retail banking and commercial banking services in Switzerland. Its assets under management (AuM) amounted in 2014 to US$1,966.9 billion, representing a 15.4% increase in AuM compared to the equivalent data of 2013. It is the biggest bank in Switzerland, operating in more than 50 countries with about 60,000 employees around the world, as of 2014.

In comparison to other European banks, UBS suffered among the largest losses during the subprime mortgage crisis, and it was required to raise large amounts of outside capital. The bank received a US$9.7 billion capital injection in 2007 from the Government of Singapore Investment Corporation (currently GIC Private Limited effective from July 2013), which remains one of the bank's largest shareholders. UBS also received capital from the Swiss government, further complemented by a series of equity offerings in 2007, 2008, and 2009.