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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. This merger formed what was then the largest bank in Europe and the second largest bank in the ...
UBS. UBS Group AG [nb 1] is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world.
The bank is fuming. A year after the failure of Credit Suisse, the Swiss government says UBS may have to find as much as $27 billion to absorb potential losses and protect taxpayers from ever ...
Completed. 12 June 2023. On 19 March 2023, Swiss bank UBS Group AG agreed to buy Credit Suisse for CHF 3 billion ( US$ 3.2 billion) in an all-stock deal brokered by the government of Switzerland and the Swiss Financial Market Supervisory Authority. [1] [2] [3] The Swiss National Bank supported the deal by providing more than CHF 100 billion ...
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UBS expects to shed around 3,000 jobs in Switzerland to help it cut $10 billion in costs as it undertakes a sweeping overhaul following its emergency rescue of Credit Suisse earlier this year.
The combined UBS logo incorporated UBS's name with SBC's "three keys" symbol. On December 8, 1997, Union Bank of Switzerland and SBC announced an all-stock merger. At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively, both trailing Credit Suisse.
Switzerland's UBS said Monday that it expects to complete its takeover of longtime rival Credit Suisse as early as next week. The two Zurich-based banks, longtime rivals, are uniting in a 3 ...