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UBS is a global company offering financial services to private, corporate and institutional clients through its wealth management, investment banking and asset management businesses.
With headquarters in Zurich and Basel in Switzerland, UBS has 50 offices and approximately 65,000 employees worldwide. According to the Guinness Book of World Records, it has the largest securities trading floor in the world – at 103,000 square-feet, the floor in Stamford, Connecticut is the same size as three football fields and houses 1,400 seats and 2,000 computers.
UBS has four divisions: wealth management and Swiss bank, wealth management Americas, global asset management and the investment bank.
Wealth management is a key strength. UBS was ranked among the top three wealth managers worldwide in 2010, in terms of investment assets. It has an estimated reach of 80% of Swiss wealth, and is also known as a leading wealth manager throughout the US, Europe and Asia Pacific. It has established a healthy position in main growth markets, such as the Middle East and Latin America.
China is potentially a lucrative market. The number of wealthy individuals in this country has been predicted to grow substantially.
The wealth management and Swiss bank division offers financial advisory services to wealthy, ‘high net worth’ individuals (with the exception of those served by the wealth management Americas division) as well as private and corporate clients in Switzerland. Similarly, Wealth management Americas serves ultra high net worth, high net worth and affluent individuals and families through advice-based solutions.
The global asset management division offers financial products relating to equities, fixed income, currency, hedge funds, real estate and infrastructure investment. The fund services unit provides services to do with the legal set-up of funds and accounting and reporting for both traditional investment funds and alternative funds.
Lastly, the investment bank provides securities and other financial products in equities, fixed income, rates, foreign exchange and commodities. It also provides advisory services and access to the world’s capital markets for corporate clients, sovereign and governmental bodies, financial intermediaries, alternative asset managers and private investors.
UBS wants to be recognised as a top tier bank in every growth region, and is particularly keen to build on its wealth management divisions. It aims to develop a number of offices dedicated to its wealthy private clients. Given that the baby boom generation is now ageing, UBS expects growth in demand for wealth management for people aged 55 plus, in the form of retirement services and estate planning. In addition, this change in focus comes as a result of recent cuts in the investment banking divisions at UBS, part of some significant cost reducing measures currently going on at the bank.
The bank is also transferring its attentions to emerging markets. Relaxed regulations for foreign funded institutions mean that China is potentially a lucrative market. The number of wealthy individuals in this country has been predicted to grow by eight percent from 2010–2014 and UBS hopes to capitalise on this.
UBS does not comment on its graduate salaries, aside from the fact they’re ‘competitive’.
The company runs employee assistance programmes in a number of locations. In the UK, employees can access specialist support for issues to do with family, bereavement, finances and legal and consumer rights. They can also make use of on-site health programmes offering the services of a general practitioner, physiotherapist and dentist.
If employees need to make arrangements to work from home or part-time, or to have flexible hours, UBS will facilitate this.
The company also supports share ownership. In 2010 55% of employees held UBS shares and an estimated 50% held UBS stock options.
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