UBS Revamps European Wealth Business
UBS is consolidating the wealth management business in Europe and Emerging Markets to streamline operations. Cross-border operations will be combined with domestic businesses in a to reduce the number of offshore booking centers from about ten to three.
“help UBS to manage risks at a time when regulators and tax authorities are asking banks for more transparency.”
This reorganization may also help UBS to manage risks at a time when regulators and tax authorities are asking banks for more transparency in operations and on client assets.
News Source: Bloomberg
UBS Group AG (NYSE:UBS) is a global firm providing financial services to private, corporate and institutional clients. It was founded in 1862 and merged several times prior to 1998, when the Union Bank of Switzerland merged with Swiss Bank Corporation – become UBS Group AG. The operational structure of the Group is comprised of Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. The UBS Group is present in all major financial centers and has offices in over 50 countries.
- Origin : Zurich, Switzerland
- Assets : CHF 942.82 billion
- Revenue : CHF 30.61 billion
- Employees : 60,000
Official Website: www.ubs.com
News & Media: Press Release
Updated on 8th August 2016