UBS

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UBS Group AG, simply known as UBS, is a Swiss multinational financial services company and one of the world’s largest wealth managers. It has headquarters in Zurich and Basel, Switzerland, and operates in major financial centers around the globe. UBS was created in 1998 when Union Bank of Switzerland and Swiss Bank Corporation merged. It later bought Paine Webber in 2000 and Credit Suisse in 2023, making it the world’s biggest private bank and a major global investment bank.

In 2024 UBS reported revenue of about $48.6 billion, net income of about $5.1 billion, and total assets around $1.57 trillion. By 2025 its assets under management were about $7 trillion. The bank employs roughly 129,000 people and has a Tier 1 capital ratio around 14.3%.

UBS operates in four main areas: Global Wealth Management (serving private clients and high-net-worth individuals), Asset Management (funds and portfolios), Investment Bank (markets, advisory and underwriting), and Personal & Corporate Banking in Switzerland. It is widely regarded as the leading wealth manager globally and is considered a globally systemic bank.

The bank has a long and high-profile history. It faced large losses during the 2008 financial crisis and received government support; a rogue-trader loss in 2011; and later refocused on wealth management in 2012. It has faced fines for Libor and currency manipulation in subsequent years. The 2023 takeover of Credit Suisse significantly expanded UBS’s size and balance sheet, and the company has been integrating Credit Suisse with a target completion by the end of 2026. In 2025, UBS agreed to a settlement related to Credit Suisse’s past activities in the United States.

UBS is known for its emphasis on client confidentiality, a tradition of secrecy that has drawn regulatory scrutiny in several countries. It operates in more than 50 countries, with major hubs in New York, London, Zurich, and Singapore, and maintains offices across the Americas, Europe, Asia-Pacific, and the Middle East and Africa.