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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.
Union Bank of Switzerland's management and board unanimously rebuffed the proposed merger. [113] Ebner, who supported the idea of a merger, led a shareholder revolt that resulted in the replacement of Union Bank of Switzerland's chairman, Robert Studer with Mathis Cabiallavetta, one of the key architects of the merger with Swiss Bank Corporation.
UBS Group AG building in St. Gallen.UBS maintains strict banking secrecy practices which have been used to facilitate tax evasion. The Swiss investment bank and financial services company, UBS Group AG, has been at the center of numerous tax evasion and avoidance investigations undertaken by U.S., French, German, Israeli, and Belgian tax authorities as a consequence of their strict banking ...
UBS Group AG came into existence in June 1998, when Union Bank of Switzerland, founded in 1862, and Swiss Bank Corporation, founded in 1872, merged. [91] Headquartered in Zürich and Basel, it is Switzerland's largest bank. [91]
In 1863, the Toggenburger Bank was founded in Lichtensteig, Switzerland (canton of St. Gallen), with an initial share capital of 1.5 million CHF. [1]Announcement of the 1912 merger between Bank in Winterthur and Toggenburger Bank to form Schweizerische Bankgesellschaft (Union Bank of Switzerland) Unissued Bond of the Toggenburger Bank
Dr. Rudolf Ernst (6 September 1865 – 15 March 1956) of Winterthur was a Swiss Industrial, Insurance, Banking Pioneer and founding father of UBS (formerly Union Bank of Switzerland). [1] He was also the first CEO and Chairman of the Board of Directors of the Union Bank of Switzerland, now UBS.
Alfred Schaefer (30 January 1905 – 8 September 1986) was a Swiss banker who served as President of the Union Bank of Switzerland (now UBS). He earned a doctorate in law from the University of Zürich in 1930, and worked for the Union Bank of Switzerland from 1931. He was a member of the management committee from 1941 to 1963 and became ...
He rose to become the bank's head and the architect of its 1998 merger with the Union Bank of Switzerland to what is now UBS. [2] The new bank, of which he became CEO, was then the second-largest bank in the world. [3] Ospel stepped down as CEO in 2001 to become chairman of the board of directors, but retained tight operational control over UBS ...