UBS AG

UBS AG is a financial firm and was formed through a merger of the Union Bank of Switzerland and the Swiss Bank Corporation in 1998. It is headquartered in Zurich and Basel, Switzerland.

It is a wealth management, investment banking and securities firm. It is also a global asset manager and does retail and commercial banking in Switzerland. UBS has invested assets of 2.231 trillion Swiss francs, shareholders' equity of 35.310 billion Swiss francs and market capitalization of 95.401 billion Swiss francs. With over CHF 700 billion Swiss francs in invested assets internationally, UBS is the world's largest wealth management firm for private clients. Invested assets in all wealth management businesses, including the US, total CHF 1.3 trillion.

The bank is present in all major financial centers worldwide, with offices in 50 countries. According to the UBS website in 2004, the bank employs 65,929 people, 40.4 % of whom are located in Switzerland, 38.7 % in the Americas, 15 % in Europe and 5.8 % in Asia.

UBS is organized in five business groups: Wealth Management & Business Banking, Investment Bank, Global Asset Management, Wealth Management USA, and Corporate Center.

The Group Executive Board is the executive body of the company. Its members are: Peter A. Wuffli (Group CEO), John P. Costas (Chairman and CEO Investment Bank), John A. Fraser (Chairman and CEO Global Asset Management), George Gagnebin (Chairman Wealth Management and Business Banking), Peter Kurer (Group General Counsel), Marcel Rohner (CEO Wealth Management and Business Banking), Clive Standish (Group CFO), Mark B. Sutton (Chairman and CEO Wealth Management USA). Marcel Ospel is the Chairman of the Board of Directors.

Main competitors are Merrill Lynch, Citigroup, Credit Suisse and others.