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UBS Group AG [nb 1] is a multinational investment bank and financial services company founded and based in Switzerland.Headquartered simultaneously in Zürich and Basel, [9] it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
Union Bank of Switzerland (UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS .
UBS Group AG (including Credit ... From 2008 to 2017 there was a reduction in the number of foreign banks in Switzerland [3] ... Contact Wikipedia; Code of Conduct;
[40] [41] In 1993 Credit Suisse outbid UBS for a controlling stake in Switzerland's fifth largest bank, Swiss Volksbank in a $1.1 billion deal. [42] It also merged with Winterthur Group in 1997 for about $9 billion [ 43 ] and acquired the asset management division of Warburg, Pincus & Co. in 1999 for $650 million. [ 44 ]
The original English name for the combined bank was the Swiss Banking Association, but it was later changed to Union Bank of Switzerland in 1921 to mirror the French form of the name: Union de Banques Suisses. The bank's logo, introduced in 1966, would later reflect both the German SBG and the English and French name UBS. [3]
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In 2016, Union Bancaire Privée was ordered to pay Internal Revenue Service $187 million USD in penalties for conspiring with U.S. taxpayers to evade taxation, through the use of fraudulent services and transactions in order mask the ownership of foreign-owned accounts and assets.