At a Glance
Lots of "training opportunities"
"People are treated with respect"
"The work is very challenging"
"Too cautious" with promotions
Some managers need to "improve their people management skills"
About UBS AG (Asia)
UBS AG is one of the world’s largest financial firms. Headquartered in Zurich and Basel, UBS AG has offices in over 50 countries and employs about 60,000 people around the world. In addition to investment banking, UBS AG serves clients through its wealth management and asset management units. UBS Investment Bank provides advisory services as well as access to the world’s capital markets for corporate, institutional, intermediary, and alternative asset management clients. It also provides securities products and research in equities, fixed income, rates, and foreign exchange.
The current version of UBS was formed in 1998 when the Union Bank of Switzerland merged with the Swiss Bank Corporation, whose history dated to the 1870s. In 2000, UBS began trading on the NYSE and bought New York-based PaineWebber for $11.8 billion, solidifying its U.S. presence. More recently, in 2008 and 2009, it reorganized itself and shrank considerably, cutting jobs and units, as a result of losses stemming from the subprime mortgage crisis. The company also received billions of dollars in aid from the Swiss government.
In addition, the firm went through a management shakeup. In early 2009, CEO Marcel Rohner resigned and Oswald Grübel, an ex-Credit Suisse executive, took over. Rohner’s resignation came amid defections, big losses, and a high-profile tax scheme controversy. Grübel, who was co-CEO at Credit Suisse from 2003 to 2007, was largely responsible for turning that firm around, and investors hoped he'd be able to do the same for UBS. But it wasn't meant to be; another scandal—involving a rogue UBS trader—resulted in Grübel's resignation in September 2011. Sergio Ermotti, the head of UBS AG’s European operations, was named interim CEO and remains the CEO of UBS AG today. Despite the big losses and scandals, UBS still ranks among the world's top firms in global M&A deal volume as well as global debt and equity underwriting volume.
2 International Finance Centre
52nd Floor, 8 Finance Street
Employer Type: Public
Stock Symbol: UBS
Stock Exchange: NYSE
Group CEO: Sergio P. Ermotti
2014 Employees (All Locations): 60,000