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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.
Private banking is a general description for banking, investment and other financial services provided by banks and financial institutions primarily serving high-net-worth individuals (HNWIs) – those with very high income or substantial assets.
Bradley Charles Birkenfeld (born February 26, 1965) is an American private banker, Author of Lucifer's Banker, convicted felon, and whistleblower.During the mid- to late-2000s, he made a series of disclosures about UBS Group AG clients, in violation of Swiss banking secrecy laws, to the U.S. government alleging possible tax evasion.
UBS Group (UBS) will create a new business unit to serve the super-rich by bringing together several services catering to the elite demographic. UBS Group (UBS) to Spruce Up Wealth Unit for the ...
ZURICH (Reuters) -UBS Group is seeing positive flows of client funds this quarter, the co-head of the Swiss bank's wealth management business said on Tuesday. The first quarter had been pretty ...
Whistleblowers and leakers of client information often face hostility from the public and sustain professional setbacks. [76] [77] Denounced as a criminal in Switzerland, a federal arrest warrant has been in place for Bradley Birkenfeld since 2008, after he disclosed UBS client information to the U.S. Internal Revenue Service in 2007. [78]
UBS shares plunged Wednesday following a report that the Swiss bank faces a widening probe by the US Department of Justice over suspected compliance failures that allowed Russian clients to evade ...
UBS also entered the life insurance business in 1993 establishing UBS Life. UBS formed a joint venture with Swiss Life in 1995, known as UBS Swiss Life. UBS took a 25% ownership position in Swiss Life in exchange for a 50% share in the joint venture. [5] UBS entered the 1990s clearly the largest and most conservative of the three large Swiss Banks.