UBS Logo – UBS is a financial services company whose headquarters are in Basel and Zurich in Switzerland. It is the largest bank in asset management in Europe (Private Wealth Management). Its main activities are private banking, the investment banking, and asset management. In Switzerland, it also has activities in retail banking and commercial banking where its main competitor is the Credit Suisse.
With a presence in over 50 countries including the United States with headquarters in Manhattan (Investment Banking), Jersey City, Weehawken (private wealth), and Stamford (Capital Markets), UBS employs over 80,000 people in 2007. The total assets under management stood at 2,652 billion Swiss francs for a market capitalization of CHF 156 billion at January 9, 2007 (CHF 48 billion in mid-September 2008) and on equity of 40 billion.
Particularly affected by the subprime crisis, UBS has recorded net outflows of CHF 226 billion and a loss of CHF 19.697 billion in 2008. It was recapitalized three times up to CHF 6 billion and the SNB bought him of toxic assets to $ 39.1 billion during the same period. UBS is the major partner of the Tate Modern. Owns a large collection of contemporary art, the Swiss bank is a major player in the current art scene.