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Union Bank of Switzerland (UBS) 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 world.
Banking in Switzerland dates to the early 18th century through Switzerland's merchant trade and over the centuries has grown into a complex and regulated international industry. Banking is seen as emblematic of Switzerland and the country has been one of the largest offshore financial centers and tax havens in the world since the mid-20th century, with a long history of banking secrecy and client confidentiality reaching back to the early 1700s. Starting as a way to protect wealthy European banking interests, Swiss banking secrecy was codified in 1934 with the passage of a landmark federal law, the Federal Act on Banks and Savings Banks. These laws were used to protect assets of persons being persecuted by Nazi authorities but have also been used by people and institutions seeking to illegally evade taxes, hide assets, or to commit other financial crime.
Swiss Bank Corporation was a Swiss investment bank and financial services company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland, with over CHF 300 billion of assets and CHF 11.7 billion of equity.
Credit Suisse Group AG is a global investment bank and financial services firm founded and based in Switzerland as a standalone firm but now a subsidiary of UBS. According to UBS, eventually Credit Suisse will be fully integrated into UBS but while the integration is not complete both banks are operating separately. Headquartered in Zürich, as a standalone firm it maintained offices in all major financial centers around the world and provided services in investment banking, private banking, asset management, and shared services. It was known for strict bank–client confidentiality and banking secrecy. The Financial Stability Board considered it to be a global systemically important bank. Credit Suisse was also a primary dealer and Forex counterparty of the Federal Reserve in the United States.
HSBC Private Bank is the principal private banking business of the HSBC Group. HSBC Private Bank's holding company is HSBC Private Banking Holdings (Suisse) S.A.. The holding company is wholly owned by British HSBC Bank plc and its subsidiaries include HSBC Private Bank (Suisse) S.A., HSBC Private Bank (UK) Limited, HSBC Private Bank (C.I.) Limited, HSBC Private Bank (Luxembourg) S.A., HSBC Private Bank (Monaco) S.A. and HSBC Financial Services (Cayman) Limited.
LGT Group is the largest royal family-owned private banking and asset management group in the world. LGT, originally known as The Liechtenstein Global Trust, is owned by the princely House of Liechtenstein through the Prince of Liechtenstein Foundation and led by its royal family members H.S.H. Prince Maximilian von und zu Liechtenstein (CEO) and H.S.H. Prince Philipp von und zu Liechtenstein (chairman).
White, Weld & Co. is a privately held global financial services firm engaged in asset management, investment advisory, investment banking and other capital market activities. Relaunched in 2012, the business is headquartered in Chicago. Previously, White, Weld & Co. was a Boston-based investment bank, historically managed by Boston Brahmins until its sale to Merrill Lynch in 1978. The Weld family name can be traced back to the founding of Massachusetts in the 1630s.
Bank Jacob Safra (Suisse) AG was a full-service commercial banking institution headquartered in Geneva, Switzerland. As part of the Safra Group of financial institutions, in 2013, it merged with Bank Sarasin & Cie, when that bank was purchased by the Safra Group, with the combined entity being named J. Safra Sarasin.
Robert L. Genillard was a Swiss businessman. His activities spanned both the fields of finance and industry. After graduate studies in economics and finance, he started a financial career in New York City. In 1954, he joined White Weld & Co., one of the oldest and leading American investment banking firms, acquired by Merrill Lynch in 1977. He became a general partner of White, Weld & Co. in 1958 and a member of its management committee in 1964. He moved to Europe to establish in the early 1960s, as chairman and chief executive, the firm of Credit Suisse White Weld which was to become Credit Suisse First Boston.
Bank Leu AG was a Swiss private bank that existed from 1755 to 2007. Headquartered in Zürich, it was a subsidiary of Credit Suisse from 1990. In 2007, it was merged with that company's other private banking units as Clariden Leu. At the time, it was Switzerland's oldest bank.
HSBC Guyerzeller Bank AG, a member of the HSBC Group, was a Swiss private bank advising individuals and families in all matters of wealth management, investment advice and trust services. Its head office was in Zürich, and it had two branches in Geneva, as well as representative offices in Hong Kong and Istanbul. It had 360 employees and about CHF 29 billion in assets under management. It is now subsumed under HSBC Private Bank.
Ulrich Körner is a German-Swiss businessman. In March 2021, he was named CEO Asset Management of Credit Suisse until July 2022, when he was appointed CEO of Credit Suisse AG.
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered simultaneously in Zürich and Basel, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS investment bankers and private bankers are known for their strict bank–client confidentiality and culture of banking secrecy. Because of the bank's large positions in the Americas, EMEA and Asia Pacific markets, the Financial Stability Board considers it a global systemically important bank.
NBAD Private Bank (Suisse) SA is a Swiss private bank located in the heart of Geneva. It provides private banking services for private clients. It is an independent and wholly owned subsidiary of the National Bank of Abu Dhabi Group.
VP Bank AG is a Liechtenstein-based bank headquartered in Vaduz and specialized in private banking. It was founded on April 6, 1956 by Princely Councillor of Commerce Guido Feger and is one of the three major banks in Liechtenstein along with the LGT Group and the LLB.
Raiffeisen Switzerland is a cooperative of cooperatives – the union of all independent Swiss Raiffeisen banks. It bears responsibility for the business policy and strategy within the Raiffeisen Group. The 219 independent Raiffeisen banks of Switzerland are organised as cooperatives. With 896 branch offices in total, they make up the densest branch network of any Swiss bank. After the acquisition of Credit Suisse by UBS, the Raiffeisen Group has become the second-largest banking group in Switzerland with client assets under management of 246.6 billion francs. Since June 2014, Raiffeisen has been classified as one of Switzerland's systemically important banks and must therefore meet special requirements in terms of capital. Raiffeisen Switzerland has 3.65 million clients in Switzerland, of whom approximately 1.9 million are cooperative members and thus co-owners of their regional Raiffeisen banks.
The Berner Kantonalbank AG (BEKB) (in French: Banque Cantonale Bernoise SA (BCBE)), operating under the brand name "BEKB | BCBE" and based in the Swiss canton of Bern, is a public limited company under private law founded in 1834 as one of the first cantonal banks of its kind, serving Switzerland's 26 cantons. At the end of 2020, the total financial assets of BEKB were valued at 36.4 billion Swiss francs with their staff comprising approximately 1,230 employees (or 1,000 full-time equivalents).
Bellevue Group AG, headquartered in Küsnacht, is a listed investment management corporation from Switzerland. Bellevue Group consists of the subsidiaries Bellevue Asset Management, Bellevue Private Markets and StarCapital. It has 9,6 billion Swiss francs Assets Under Management Around 80% of clients assets are in healthcare investments. Bellevue Group is also active in alternative investments and private equity, including co-investments in private domestic small and medium-sized enterprises. In this business area, client assets under management were 1.0 billion francs as of mid-2021.
References
- ↑ "Rail industry conferences, exhibitions and trade fairs". Railway Gazette International.
- ↑ Clariden Leu Our history Archived July 4, 2011, at the Wayback Machine
- ↑ Archived copy Archived May 6, 2015, at archive.today
- ↑ "Solar-panel tracks could support world's future energy demands". masstransit.network. 18 September 2018.
- ↑ "Clariden Leu Names Jaquet New Chief as Bank Aims for Growth". www.bloomberg.com.
