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Union Bank of Switzerland - Essay Example
Union Bank of Switzerland (UBS) is one of the largest investment managers in the world. UBS serves institutional investors and high net-worth individuals by offering a range of products and services including mutual funds, asset management, corporate finance, and estate planning…
Performance and Prospects of Union Bank of Switzerland
UBS is one of the best-capitalized financial institutions in the world, with invested assets of 2.2 trillion Swiss francs, shareholders' equity of 35.4 billion Swiss francs and market capitalization of 95.4 billion Swiss francs. UBS is present in all major financial centers worldwide, with offices in 50 countries. UBS employs 65,929 people, 40% of whom are located in Switzerland, 39% in the Americas, 15% in Europe and 6% in Asia.
As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses. As an organization, UBS combines financial strength with a global culture that embraces change.
In the 10 years before their merger, both banks had made a series of purchases to increase their investment banking presence. The most significant was the 1995 acquisition of SG Warburg, a venerable London investment-banking firm, by SBC. S.G. Warburg, was founded London in the 1930s and reached prominence after the Second World War.
UBS' strengths have traditionally lain in Europe. But the bank is seeking to raise its game in the US. In the 1990s in the US, it acquired Dillon Read, a corporate finance specialist and O'Connor, a derivatives specialist. In 2000 it acquired Paine Webber, a US Stock broker and investment bank for $10.8bn (8.3bn, $5.7bn). UBS has also been boosting its US corporate finance and equities teams with additional hires.
UBS has almost $2 trillion in personal and corporate assets invested, among the world's largest asset pools. With acquisitions such as Sauerborn, UBS is pursuing a bold strategy that is not without risks. ...