ubs

UBS's journey began in 1862 with the founding of Bank in Winterthur, a forerunner of the Union Bank of Switzerland. This was a period of significant industrial growth in Switzerland, and the bank played a role in financing various companies and projects. Around the same time, in 1854, six private banking firms in Basel pooled their resources to form the Bankverein, a consortium that would eventually evolve into the Swiss Bank Corporation (SBC). The Toggenburger Bank, specializing in savings and mortgages, was established in 1863.

A pivotal moment arrived in 1912 when the Bank in Winterthur merged with Toggenburger Bank to create the Union Bank of Switzerland (UBS). The newly formed entity established its headquarters in Zurich on Bahnhofstrasse in 1917. Both Union Bank of Switzerland and Swiss Bank Corporation grew through numerous acquisitions over the decades. For instance, Union Bank of Switzerland acquired Eidgenössische Bank in 1945, moving its operations to Zurich and significantly increasing its assets. SBC, on its part, acquired firms like Brinson Partners in 1994 and S.G. Warburg & Co. in 1995, significantly expanding its asset management and investment banking capabilities. Finally, in 1998, the Union Bank of Switzerland and the Swiss Bank Corporation merged to form the modern UBS AG, creating one of the largest banks in the world at the time. The name "UBS" is now the company's official name and not an acronym. In a significant recent development, UBS agreed to acquire its competitor Credit Suisse in March 2023, completing the acquisition in June 2023.