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The accounts do not generate as much revenue as traditional private banking, but given the number of customers, can provide sizeable revenue to the bank. In 2016, Credit Suisse and UBS replaced the phrase "private banking" with "wealth management"; private banking has faced reputational risk as an area for tax avoidance or even tax evasion. [9]
As a result of the merger, UBS O'Connor now operates as a hedge fund, which is a distinct investment area within UBS Asset Management with complete independence in regard to investment decision-making. The business' capabilities cover a range of investment strategies, which seek to achieve risk-adjusted absolute returns with low correlation to ...
UBS maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS investment bankers and private bankers are known for their strict bank–client confidentiality and culture of banking secrecy. [nb 2] The bank manages, across all groups, about US$6 trillion in assets ...
The term private bank refers to a bank that offers private banking services and in its legal form is a partnership. [97] The first private banks were created in St. Gallen in the mid-18th century and in Geneva in the late 18th century as partnerships, and some are still in the hands of the original families such as Hottinger and Mirabaud. [97]
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. This merger formed what was then the largest bank in Europe and the second largest bank in the world.
Union Bancaire Privée (UBP SA) is a private bank and wealth management firm headquartered in Geneva. UBP is one of the largest private banks in Switzerland, and serves private and institutional clients. The bank was founded in 1969 by Edgar de Picciotto.
Brinson Partners (later known as UBS Brinson) was an asset management firm focused on providing access for U.S. institutions to global markets. [1] The firm was founded by noted investor Gary P. Brinson in the 1980s and established as an independent firm in 1989.
Wuffli had previously served as CEO UBS AG until 2007. [22] Partners Group launched the Private Equity Master Fund in 2009. The fund was one of the first to meet the requirements of the Investment Company Act of 1940, and one of the first SEC-regulated funds available in the United States. Since its launch, the fund has consistently remained as ...