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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.
When SBC and UBS merged in 1998, Weil joined UBS as part of its private banking division for Asia and Europe, becoming head of UBS's Wealth Management International unit in 2002. In July 2007, Weil became CEO of WM&BB.
While some may use the terms private banking and wealth management interchangeably, there are important differences between them. Wealth management typically involves tailored financial planning ...
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The battles between Ebner and UBS management proved a distraction to the bank in the mid-1990s. Looking to take advantage of the situation, Credit Suisse approached UBS about a merger that would have created the second largest bank in the world in 1996. [11] UBS's management and board unanimously rebuffed the proposed merger. [12]
Initially the business was given the divisional name "UBS PaineWebber" but in 2003 the 123-year-old name Paine Webber disappeared when it was renamed "UBS Wealth Management USA." [ 52 ] The bank would grow considerably in the 2000s, building a large investment banking franchise to compete with the major US and European bulge bracket firms.
A mere 1% decline in U.S. tech stocks and a 2.1% decline in semiconductor shares led Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management, to remind investors that ...
In 2009, the company acquired 56 branches from the UBS Wealth Management Americas (UBS) branch network (56 offices in 24 states and 500 associates). [ 2 ] In 2010, the company completed its acquisition of Thomas Weisel Partners Group , Inc and created an enterprise with one of the largest U.S. equity research platforms and expanded institution ...