307:
238:
417:
of the war and was consequently acquired by SBC in 1945. SBC remained among the Swiss government's leading underwriters of debt in the post-war years. However, by 1947 SBC was shifting its focus back to its traditional business of lending money principally to private companies as part of the postwar rebuilding of Europe. Meanwhile, the firm continued its expansion to international markets, particularly the United States where SBC focused primarily on commercial banking for corporate clients. Within
Switzerland, SBC remained a full-service bank with a domestic retail banking network and an asset management business.
254:
466:
421:
778:
436:, and the Banque Populaire de Sierre. The firm continued to open new offices in the US in the mid-1960s and it was also at this time that SBC began to expand into Asia and opened representative offices throughout Latin America. The bank opened a full branch office in Tokyo in 1970. The bank also made a number of acquisitions to enhance its position in various products. SBC acquired a controlling interest in Frei, Treig & Cie. in 1968, Warag Bank in 1970 and Bank Prokredit in 1979 (later sold to
481:. SBC had been impacted by losses on its real estate investments and a series of minor controversies, despite the bank's historically conservative posture. Beginning in the 1980s, SBC along with its Swiss peers began to embrace a more aggressive strategy to keep up with competitors in the US, Japan, Germany and the UK. The bank signaled its new posture in 1990 when it opened its new US headquarters, Swiss Bank Tower, a 29 floor building on 49th Street, adjoining
873:
31:
1163:
1149:
584:
702:
370:, just weeks after the outbreak of the war and was intended as a safe place to store assets in case of an invasion. During the war, the bank's traditional business fell off and the Swiss government became its largest client. Overall, SBC saw its business grow as a result of its wartime government underwriting business.
444:
As its own home market was highly competitive, SBC focused on commercial banking for
American and other multinational companies. Through 1979, SBC was consistently the largest of the three major Swiss Bank by assets, except for short periods in 1962 and 1968 when UBS temporarily moved ahead of SBC.
333:
put a hold on much of the bank's development. Although SBC survived the war intact, it suffered the loss of its investments in a number of large industrial companies. Nevertheless, the bank surpassed CHF 1 billion for the first time at the end of 1918 and grew to 2,000 employees by 1920.
553:
In 1994, SBC followed up its acquisition of O'Connor by acquiring
Brinson Partners an asset management firm focused on providing access for US institutions to global markets. Founded by Gary P. Brinson, an innovator in financial management, Brinson Partners had emerged as one of largest managers of
440:
in 1997). All three banks focused on consumer lending. Similarly, SBC acquired a number of banks in the private banking sector, including
Ehinger & Cie. in 1974; Armand von Ernst & Cie. and Adler & Co. in 1976; and a majority interest in Geneva-based Ferrier Lullin & Cie. in 1978.
219:
after the 1998 merger. Although the combination of the two banks was billed as a merger of equals, it quickly became evident that from a management perspective, it was SBC that was buying UBS. Nearly 80% of the top management positions were filled by legacy Swiss Bank professionals. Today, what was
520:
in the financial options exchanges in the US, beginning in 1988. O'Connor had been looking to partner with a larger financial institution and in 1989 entered into a currency joint venture with SBC that proved to be the first step towards a sale of O'Connor to SBC. Following the merger, O'Connor
431:
SBC prospered throughout the 1950s and embarked on a period of sustained growth. The bank, which had entered the 1950s with 31 Branch
Offices in Switzerland and three abroad, more than doubled its assets from the end of the war to CHF 4 billion by the end of the 1950s and doubled assets
416:
Swiss Bank
Corporation found itself in relatively strong financial condition at the end of World War II, with CHF 1.8 billion of assets. By contrast, the Basler Handelsbank (Commercial Bank of Basel), founded in 1862 and one of the largest banks in Switzerland, was insolvent at the end
745:
professionals. Additionally, UBS professionals suffered more headcount reductions, particularly in the investment banking unit where there were heavy cuts in the corporate finance and equities businesses. Prior to the merger, Swiss Bank
Corporation had built a global investment banking business,
570:
and over the next five years built up the firm to approximately US$ 36 billion of assets under management. SBC paid US$ 750 million to acquire
Brinson Partners, which resulted in a profit to Brinson and his partners of US$ 460 million on the sale of their 75% stake in the company.
297:
Basler
Bankverein later combined with ZĂĽrcher Bankverein in 1895 to become the Basler & ZĂĽrcher Bankverein. The next year, Basler Depositenbank and Schweizerische Unionbank were acquired. After the take-over of the Basler Depositenbank, the bank changes its name to Schweizerischer Bankverein
697:
which had approached UBS about a merger that would have created the second largest bank in the world in 1996. UBS's management and board unanimously rebuffed the proposed merger. Ebner, who supported the idea of a merger, led a major shareholder revolt that resulted in the replacement of UBS's
285:
The Basler
Bankverein was formally organized in 1872 in Basel, replacing the original Bankverein consortium. Basler Bankverein was founded with an initial commitment of CHF 30 million, of which CHF 6 million of initial share capital was paid in. Among the Bankverein's early
294:. The bank experienced initial growing pains after heavy losses in Germany caused the bank to suspend its dividend in favor of a loss reserve. By 1879, Basler Bankverein has accumulated enough capital to resume dividends, initially at an 8% annual rate and then increasing to 10% in 1880.
744:
was named chief executive officer while Union Bank's Mathis Cabiallavetta became chairman of the new bank. However, it quickly became evident that from a management perspective, it was SBC that was buying UBS as nearly 80% of the top management positions were filled by legacy Swiss Bank
863:
was the result of the combination of dozens of individual firms, many of which date to the 19th century. The following is an illustration of the company's major mergers and acquisitions and historical predecessors, although this is not necessarily a comprehensive list:
366:, SBC was the recipient of large influxes of foreign funds for safekeeping. Just prior to the outbreak of World War II, in 1939, Swiss Bank Corporation made the timely decision to open an office in New York City. The office was able to begin operations, located in the
662:
which owned 25% of the firm already, however Dillon Read partners balked at ING's integration plans. After its acquisition by SBC, Dillon Read was merged with SBC-Warburg to create SBC-Warburg Dillon Read. The Dillon Read name was discontinued after the merger with
445:
After 1979, although its balance sheet had grown to CHF 74 billion of assets, the bank would typically rank second to UBS which firmly established itself as the largest Swiss bank in the 1980s. SBC would retain this position for the next 15 years until
639:, but the talks collapsed. The following year S.G. Warburg was purchased by Swiss Bank Corporation. The bank merged S.G. Warburg with its own existing investment banking unit to create SBC Warburg, which became a leading player in global investment banking.
789:'s trading operations, the Stamford complex featured the largest trading floor ever built, roughly the size of two football fields. Following an expansion in 2002, the floor covers 103,000-square-foot (9,600 m) with 40-foot (12 m) arched ceilings.
729:, a huge new bank with total assets of more than US$ 590 billion. Also referred to as the "New UBS" to distinguish itself from the former Union Bank of Switzerland, the combined bank became the second largest in the world, at that time, behind only the
274:, a consortium that acted as an underwriting syndicate for its member banks. Among the original member banks were Bischoff zu St Alban, Ehinger & Cie., J. Merian-Forcart, Passavant & Cie., J. Riggenbach and von Speyr & Cie. The establishment of
595:
693:, through his investment trust, BK Vision became the largest shareholder in UBS and attempted to force a major restructuring of the bank’s operations. The groundwork for the merger of SBC and UBS was actually laid by their mutual competitor,
538:
768:
positions in late 1997 provided SBC with the leverage it required to consummate the merger. It would become clear that the derivatives losses prompted UBS to accept the terms proposed by SBC more readily than they otherwise would have.
533:
activities to form a globally integrated capital markets and treasury operation. A number of O'Connor executives were brought into key positions within the bank in an attempt to cultivate a more entrepreneurial culture at SBC.
346:
would be severe, particularly as the Swiss franc suffered major devaluation in 1936. The bank would see its assets fall from a 1929 peak of CHF 1.6 billion to its 1918 levels of CHF 1 billion by 1936.
326:, its first representation in the Italian-speaking portion of the country. This was followed by the 1909 acquisition of Bank fĂĽr Appenzell (est. 1866) and the 1912 acquisition of Banque d'Escompte et de DĂ©pots.
1866:
713:
and SBC announced an all-stock merger. At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively, both trailing
740:
The merger, which was billed as a merger of equals, resulted in SBC's shareholders receiving 40% of the bank's common shares and Union Bank's shareholders receiving 60% of the combined company. SBC's
441:
The bank continued its consolidation of Swiss banks acquiring Banque Commerciale de Sion in 1978 and in 1979 acquired Handwerkerbank Basle, the Banca Prealpina SA and Bank fĂĽr Hypothekarkredite.
757:
in London. SBC was generally considered to be further along than UBS in developing its international investment banking business, particularly in the higher margin advisory businesses where
1204:
215:, the largest bank in Europe and the second largest bank in the world. The company's logo, which featured three keys, symbolizing "confidence, security, and discretion", was adopted by
512:
business. The O'Connors provided Greenbaum, who had run risk management for First Options, with the capital to start his own firm. SBC had established a strategic relationship with
504:
was founded in 1977 by mathematician Michael Greenbaum and was named for Edmund (Ed) and Williams (Bill) O'Connor. The O'Connor brothers had made a fortune trading grain on the
571:
Following the acquisition of Brinson Partners, Gary Brinson ran SBC's asset management business and after the merger with UBS, Brinson was named chief investment officer of
318:
SBC continued to grow in the early decades of the 20th century, acquiring weaker rivals. In 1906, SBC purchased Banque d'Espine, Fatio & Cie, establishing a branch in
373:
Decades after the war, it was demonstrated that Swiss Bank Corporation likely took an active role in trading stolen gold, securities and other assets during World War II.
377:
733:. Additionally, the merger pulled together the banks' various asset businesses to create the world's largest money manager, with approximately US$ 910 billion in
835:
The bank would grow considerably in the 2000s, building a large investment banking franchise to compete with the major US and European bulge bracket firms. However,
654:. Dillon, Read, which traced its roots to the 1830s was among the powerhouse firms on Wall Street in the 1920s and 1930s and by the 1990s had a particularly strong
2448:
1863:
828:
to the top Wealth and Asset Management Firm in the world. Initially the business was given the divisional name "UBS PaineWebber" but in 2003 the 123-year-old name
848:
1761:
1450:
635:
that grew to be one of the most respected investment banks in London. Following a flawed and costly expansion into the US, in 1994 a merger was announced with
338:
to refine precious metals and produce bank ingots. the company would be established as a separate subsidiary in 1936 and spun off in 1998. The impact of the
2453:
1396:
1907:
1629:
2083:
1605:
1992:
380:(WJC) was launched to retrieve deposits made by victims of Nazi persecution during and prior to World War II. Negotiations involving SBC's successor
1577:
350:
In 1937, SBC adopted its three keys logo symbolizing confidence, security and discretion. The logo was designed by a Swiss artist and illustrator,
1839:
1333:
1321:
1827:
477:
Swiss Bank began the 1990s as the weakest of the "Big Three" Swiss banks but by the end of 1997 would be the driving force behind the merger with
1545:
1791:
1694:
1211:
2438:
2423:
1977:
1919:
1435:
1851:
1348:
1815:
1682:
30:
1384:
335:
2433:
562:
in the 1970s and by 1981 began building the business that would become Brinson Partners. In 1989, Brinson led a US$ 100 million
1646:
1372:
802:, the successor of the Union Bank of Switzerland, is among the largest diversified financial institutions in the world. As of 2010,
396:, on behalf of the US, ultimately resulted in a settlement of US$ 1.25 billion in August 1998 paid by the two large Swiss banks
1742:
872:
2101:
903:
1803:
1360:
2428:
2029:
1933:
1706:
306:
237:
1408:
698:
chairman, Robert Studer. Studer's successor Mathis Cabiallavetta would be one of the key architects of the merger with SBC.
668:
367:
2159:
1670:
2397:
806:
operated in all of the major financial centers worldwide with offices in over 50 countries and 64,000 employees globally.
1957:
2231:
2164:
558:
which had largely become conventional wisdom among money managers in the 1980s and 1990s. Brinson had begun working at
405:
572:
2131:
1895:
1882:
1029:
513:
501:
497:
201:
1528:
554:
pension plans and also managed a series of mutual funds. Brinson was a pioneer in the development of the theory of
404:. The settlement, which coincided with UBS's merger with Swiss Bank, together with the bank's embarrassment in the
339:
1478:
The Predictors: How a Band of Maverick Physicists Used Chaos Theory to Trade Their Way to a Fortune on Wall Street
2387:
2296:
2055:
1180:
1052:
860:
710:
680:
664:
567:
559:
478:
291:
208:
106:
282:) was driven by the industrialization of the country and the construction of railroads in the mid-19th century.
1262:
844:
730:
655:
509:
496:
with an emphasis on building its trading operations. To bolster its trading initiative, in 1992, SBC acquired
470:
450:
432:
again by the mid-1960s, exceeding CHF 10 billion in 1965. SBC acquired Banque Populaire Valaisanne,
2256:
169:
company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland, with over
1465:
734:
311:
1996:
1840:
The Master Of Zurich: How Peter Wuffli turned around UBS – and brought the glory days back to Swiss banking
2366:
2346:
1574:
1185:
1083:
777:
505:
351:
1501:
623:
a leading British investment banking firm in 1995 for US$ 1.4 billion. S.G. Warburg was founded by
2001:
Summary: Money laundering in SBC (since 1998 UBS AG) - and criminal pedophile club "Basel Animal Circle"
782:
764:
After the merger was completed, it was widely speculated that a series of losses suffered by UBS on its
718:. Discussions between the two banks had begun several months earlier, less than a year after rebuffing
686:
465:
389:
253:
2121:
1104:
941:
754:
643:
620:
605:
1617:
420:
2022:
821:
685:
Aggressively pushing ahead its various acquisitions, UBS was mired in a series of entanglements with
600:
SBC spent US$ 2 billion to assemble an investment banking franchise through the acquisitions of
323:
189:
176:
Throughout the 1990s, SBC engaged in a large growth initiative, shifting its focus from traditional
2251:
2154:
2111:
1066:
786:
758:
746:
609:
319:
275:
221:
2266:
2226:
2106:
2063:
1154:
493:
489:
425:
287:
267:
244:
181:
177:
166:
162:
53:
2116:
2078:
1297:
322:, for the first time. Two years later, in 1908, the bank acquired Fratelli Pasquali, a bank in
266:
Swiss Bank Corporation traces its history to 1854. In that year, six private banking firms in
2190:
2169:
2149:
2068:
1730:
1593:
1477:
1309:
1237:
920:
765:
563:
482:
433:
1658:
1513:
2326:
2311:
2241:
2174:
2126:
1718:
624:
555:
546:
454:
393:
343:
197:
298:(Swiss Bank). The English name of the bank was changed to Swiss Bank Corporation in 1917.
2356:
2351:
2321:
2291:
2015:
1870:
1581:
542:
530:
154:
146:
2371:
583:
2236:
2220:
1489:
817:
636:
628:
526:
278:
banks in Switzerland such as Swiss Bank's earliest predecessors (often structured as a
500:, a Chicago-based options trading firm, with an expertise in financial derivatives.
2417:
2361:
2214:
1937:
814:
719:
715:
694:
651:
632:
446:
401:
385:
185:
2443:
2341:
2316:
2306:
2261:
2141:
1168:
829:
741:
690:
601:
522:
517:
363:
279:
193:
1397:
When the Sure-Footed Stumble; Swiss Banks Stagger After Several Investing Missteps
851:, the Swiss government and through a series of equity offerings in 2008 and 2009.
1423:
1322:
Swiss Bank of Basle to Open Branch Here; Huge Vaults a Haven for European Capital
785:, in exchange for US$ 120 million in tax credits. Later the headquarters of
2402:
2392:
2331:
2246:
2073:
1071:(merged 1997 with SBC-Warburg under SBC ownership)
750:
330:
204:. These acquisitions formed the basis for a global investment banking business.
170:
134:
594:
537:
2336:
2301:
2271:
1958:"UBS-Aktionäre stimmen der Finanzspritze zu (Wirtschaft, Aktuell, NZZ Online)"
1594:
UBS-SBC Would be Largest Manager Yet: Gary Brinson May Lead Institutional Side
1144:
647:
437:
57:
847:
and the bank was required to raise large amounts of outside capital from the
705:
The combined UBS logo incorporated UBS's name with SBC's "three keys" symbol.
619:
SBC's next made a major push into investment banking with the acquisition of
659:
173: 300 billion of assets and CHF 11.7 billion of equity.
781:
SBC had announced in 1994 that the bank would move its US headquarters to
1436:
GE Capital Services to Acquire Bank Prokredit from Swiss Bank Corporation
1334:
Swiss Agency will Open, Bank to Occupy Quarters in the Equitable Building
631:. After World War II, S.G. Warburg established a reputation as a daring
658:
advisory group. Dillon Read had been in negotiations to sell itself to
1773:
Corporate finance staff learn fate. Financial Times, February 12, 1998
49:
1451:
The Swiss Bank Tower; A Building Designed to Suit Needs and Neighbors
726:
701:
642:
Two years later, in 1997, SBC paid US$ 600 million to acquire
2004:(Data are insider information from Swiss juridical circles, 2014).
843:
suffered among the largest losses of any European bank during the
700:
536:
464:
419:
305:
188:. As part of this strategy, SBC acquired US-based investment bank
130:
689:
who were critical of bank's relatively conservative management.
449:
leapfrogged into the top spot following its 1995 acquisitions of
2011:
2038:
1176:
840:
836:
825:
810:
803:
799:
794:
397:
381:
216:
212:
120:
110:
832:
disappeared when it was renamed "UBS Wealth Management USA."
220:
SBC forms the core of many of UBS's businesses, particularly
1557:
Gary P. Brinson, L. Randolph Hood, and Gilbert L. Beebower,
650:
US investment banking firm considered to be a member of the
1864:
UBS Warburg Expansion Creates World's Largest Trading Floor
549:
in 1994 to bolster the bank's US asset management business.
408:
collapse in 1998 brought a degree of closure to the issue.
1385:
Swiss Are Relieved, but Sour, Over Banks' Holocaust Accord
1349:
Swiss Were Part of Nazi Economic Lifeline, Historians Find
2007:
1719:
Switzerland's Top Bank Spurns Merger Bid From Arch-Rival
1852:
Swiss Bank Says Big Merger Won't Affect Stamford Office
1762:
2 of the Big 3 Swiss Banks To Join to Seek Global Heft
1920:
Advertising: Introducing UBS PaineWebber, Post Merger
1683:
Financier Who Shook Up the Swiss Is Himself Shaken Up
1561:, The Financial Analysts Journal, July/August 1986.
1514:
Mergers: leadership, performance and corporate health
1731:
Finance and Financiers in European History 1880–1960
1373:
Gold Dispute With the Swiss Declared to Be At an End
761:
was considered to be the more established platform.
2380:
2280:
2203:
2183:
2140:
2092:
2054:
2045:
1563:
Determinants of Portfolio Performance II: An Update
820:and asset management firm led by chairman and CEO,
126:
116:
101:
93:
75:
63:
45:
37:
1647:Swiss Bank Steps Up to Buy Dillon, Read on Rebound
196:in the mid-1990s. SBC also acquired Chicago-based
1993:"UBS criminals and criminal pedophiles. Profiles"
1908:Swiss Acquirer Has Had Plenty of Its Own Problems
1361:Swiss Banks And Victims Of the Nazis Nearing Pact
859:Swiss Bank Corporation, prior to its merger with
839:suffered major setbacks in 2007, 2008 and 2009.
378:World Jewish Congress lawsuit against Swiss banks
16:Swiss investment bank and financial services firm
1524:
1522:
1233:
1231:
1934:"UBS turns to Singapore state fund for capital"
1596:. Pensions & Investments, December 8, 1997
1546:Merger in Switzerland Creates a Star in Chicago
1258:
1256:
1254:
1252:
1250:
1248:
1246:
184:, in an effort to match its larger Swiss rival
1565:, The Financial Analysts Journal, 47, 3 (1991)
1541:
1539:
1537:
1531:. Funding Universe, Retrieved August 10, 2010
1419:
1417:
1265:. Funding Universe, Retrieved August 10, 2010
904:Basler & ZĂĽrcher Bankverein
849:Government of Singapore Investment Corporation
725:The all-stock merger resulted in the creation
2023:
1816:Four leave after UBS suffers big trading loss
1707:Big Swiss Bank Rejects Merger Appeal by Rival
1461:
1459:
8:
1757:
1755:
1753:
1751:
1642:
1640:
1638:
21:
1344:
1342:
2051:
2030:
2016:
2008:
1293:
1291:
314:, offices in Swiss Bank Corporation c.1920
259:1872 Basler Bankverein investor prospectus
247:, offices of Swiss Bank Corporation c.1920
20:
1782:The Plunder of UBS. Euromoney, March 1998
1424:Handbook on the History of European Banks
1289:
1287:
1285:
1283:
1281:
1279:
1277:
1275:
1273:
1271:
671:, UBS's ill-fated hedge fund operations.
424:The Swiss Bank Corporation board room in
1743:Embattled UBS poised for merger with SBC
1446:
1444:
776:
667:although it was brought back in 2005 as
1828:A Swiss Bank Raises Loss on Derivatives
1804:Has UBS Found Its Way out of the Woods?
1671:Swiss Battle For Big Bank Proves Costly
1618:Jilted: Morgan Stanley and S.G. Warburg
1312:. Palgrave Macmillan, 1998 (p. 132–136)
1196:
488:SBC shifted its focus from traditional
290:, one of the early predecessors of the
2449:Swiss companies disestablished in 1998
1792:Performance Of New Bank Relies on U.S.
1630:Swiss Bank in deal to buy S.G. Warburg
192:as well as London-based merchant bank
71:Basler & ZĂĽrcher Bankverein (1895)
1818:. The Independent, November 20, 1997
1559:Determinants of Portfolio Performance
675:Merger with Union Bank of Switzerland
270:, pooled their resources to form the
7:
1854:. New York Times, December 11, 1997
1695:Swiss Banks Considering Giant Merger
1608:. Management Today, November 1, 1998
1575:Gary Brinson – CFA Journal Interview
1548:. New York Times, December 14, 1997
1310:Swiss banking: an analytical history
2454:Swiss companies established in 1854
1896:Swiss Bank Is Acquiring PaineWebber
1885:. New York Times, October 24, 2000
1830:. New York Times, January 31, 1998
1764:. New York Times, December 9, 1997
1733:. Cambridge University Press, 2002
1504:. New York Times, December 7, 1989
1468:. New York Times, January 10, 1992
1409:Switzerland winds up Holocaust fund
1399:. New York Times, October 23, 1998
1375:. New York Times, January 31, 1999
1363:. New York Times, January 23, 1999
1351:. New York Times, December 2, 2001
1336:. New York Times, October 15, 1939
1076:
913:
899:
885:
867:
469:The former Swiss Bank Tower off of
461:Aggressive acquisitions (1990–1998)
1873:. UBS Press Release, May 14, 2002
1673:. New York Times, January 9, 1995
1661:. New York Magazine, Nov 17, 1997
1387:. New York Times, August 16, 1998
1179:, successor following merger with
1051:(est. 1989 originally division of
14:
1745:The Independent, December 6, 1998
1721:. New York Times, April 12, 1996
1709:. New York Times, April 12, 1996
1697:. New York Times, April 10, 1996
1685:. New York Times, August 1, 2002
1453:. New York Times, April 15, 1990
1922:. New York Times, March 5, 2001
1910:. New York Times, July 13, 2000
1898:. New York Times, July 12, 2000
1426:. Edward Elgar Publishing, 1994
1324:. New York Times, July 28, 1939
1161:
1147:
890:Swiss Bank Corporation
877:Swiss Bank Corporation
871:
593:
582:
473:in New York City opened in 1990.
252:
236:
29:
2160:Blyth, Eastman Dillon & Co.
2102:Basler & ZĂĽrcher Bankverein
1649:. New York Times, May 16, 1997
1240:Bradford-Rhodes & Co., 1920
508:and founded a First Options, a
1842:. BusinessWeek, July 25, 2005
669:Dillon Read Capital Management
1:
2398:Wellington Management Company
2165:Kidder, Peabody & Company
1932:Robinson, Gwen (2007-12-11).
1606:Outsider who changed the City
1067:Warburg Dillon Read
69:Basler Bankverein (1872–1895)
2439:Banks disestablished in 1998
2424:Defunct banks of Switzerland
1806:BusinessWeek, March 29, 1999
1620:The Economist, December 1994
1411:. SwissInfo.ch, Dec 18, 2002
813:merged with Paine Webber an
749:through its acquisitions of
406:Long Term Capital Management
81:; 170 years ago
1632:New York Times, 11 May 1995
1529:SBC Warburg Company History
1516:. Palgrave Macmillan, 2007
1205:"UBS AG 1998 Annual Report"
1055:started c. 1981, acq. 1994)
573:UBS Global Asset Management
2472:
824:. The acquisition pushed
792:
678:
358:Activities in World War II
340:stock market crash of 1929
336:Métaux Précieux SA Métalor
159:Schweizerischer Bankverein
2434:Banks established in 1854
2388:MFS Investment Management
2132:O'Connor & Associates
2056:Union Bank of Switzerland
1181:Union Bank of Switzerland
1102:
1081:
1074:
1053:First Chicago Corporation
1046:
1027:
1010:
984:
967:
939:
925:(est. 1856 as Bankverein,
918:
911:
897:
883:
861:Union Bank of Switzerland
711:Union Bank of Switzerland
681:Union Bank of Switzerland
665:Union Bank of Switzerland
568:First Chicago Corporation
560:First Chicago Corporation
498:O'Connor & Associates
479:Union Bank of Switzerland
292:Union Bank of Switzerland
209:Union Bank of Switzerland
207:In 1998, SBC merged with
202:O'Connor & Associates
107:Union Bank of Switzerland
28:
1466:Swiss Bank Buys O'Connor
845:subprime mortgage crisis
731:Bank of Tokyo-Mitsubishi
656:mergers and acquisitions
521:was combined with SBC's
516:, which was the largest
451:Schweizerische Volksbank
151:Société de banque suisse
2429:Former investment banks
1883:PaineWebber Merger Vote
1502:Swiss Bank In U.S. Link
1084:S. G. Warburg & Co.
735:assets under management
334:In 1918, SBC purchased
312:St. Gallen, Switzerland
2122:Dillon, Read & Co.
2094:Swiss Bank Corporation
1978:UBS 2009 Annual report
1186:Banking in Switzerland
1109:(est. 1832, acq. 1997)
1105:Dillon, Read & Co.
1034:(est. 1977, acq. 1992)
1015:(est. 1862, acq. 1945)
790:
706:
644:Dillon, Read & Co.
629:Warburg banking family
621:S.G. Warburg & Co.
606:Dillon, Read & Co.
550:
506:Chicago Board of Trade
474:
428:
352:Warja Honegger-Lavater
315:
143:Swiss Bank Corporation
67:Bankverein (1854–1872)
23:Swiss Bank Corporation
1088:(est. 1946, acq. 1995
783:Stamford, Connecticut
780:
722:'s merger overtures.
709:On December 8, 1997,
704:
687:activist shareholders
540:
468:
423:
390:World Jewish Congress
309:
190:Dillon Read & Co.
2381:Largest shareholders
2155:Jackson & Curtis
1090:to form SBC-Warburg)
969:Basler Depositenbank
324:Chiasso, Switzerland
2252:Alex Wilmot-Sitwell
2117:SG Warburg & Co
2112:Warburg Dillon Read
2079:Phillips & Drew
1438:. December 23, 1997
855:Acquisition history
787:UBS Investment Bank
759:Warburg Dillon Read
747:Warburg Dillon Read
610:Warburg Dillon Read
320:Geneva, Switzerland
222:UBS Investment Bank
58:Investment services
25:
2267:William G. Parrett
2227:Markus U. Diethelm
2191:McDonald & Co.
2150:Paine & Webber
2107:Basler Handelsbank
2064:Bank in Winterthur
1869:2014-09-05 at the
1580:2010-11-01 at the
1492:. Wired, Dec 1999
1480:. Macmillan, 2000
1300:. Company website
1155:Switzerland portal
1012:Basler Handelsbank
942:ZĂĽrcher Bankverein
894:(merged 1897)
880:(merged 1977)
809:In November 2000,
791:
707:
627:, a member of the
551:
494:investment banking
490:commercial banking
475:
429:
426:Basel, Switzerland
368:Equitable Building
316:
288:Bank in Winterthur
268:Basel, Switzerland
245:Basel, Switzerland
182:investment banking
178:commercial banking
167:financial services
54:Financial services
2411:
2410:
2199:
2198:
2170:Mitchell Hutchins
2069:Toggenburger Bank
1137:
1136:
1128:
1127:
1119:
1118:
1110:
1091:
1072:
1056:
1035:
1016:
999:
998:
990:
986:Schweiz Unionbank
973:
956:
955:
947:
928:
921:Basler Bankverein
909:
895:
881:
766:equity derivative
566:of his firm from
564:management buyout
483:Saks Fifth Avenue
434:Sion, Switzerland
140:
139:
2461:
2327:Jerker Johansson
2175:Union Securities
2127:Brinson Partners
2052:
2032:
2025:
2018:
2009:
2003:
1995:. Archived from
1980:
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1164:
1157:
1152:
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1108:
1087:
1077:
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1048:Brinson Partners
1033:
1014:
988:
971:
945:
927:renamed in 1872)
924:
914:
908:(est. 1880)
907:
900:
893:
886:
879:
875:
868:
773:After the merger
753:in New York and
625:Siegmund Warburg
608:in 1997 to form
597:
586:
556:asset allocation
547:Brinson Partners
455:Winterthur Group
394:Stuart Eizenstat
344:Great Depression
286:backers was the
256:
240:
198:Brinson Partners
89:
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82:
33:
26:
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2414:
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2407:
2376:
2357:Kaspar Villiger
2352:Olivier Sarkozy
2322:Marten Hoekstra
2292:Gary P. Brinson
2284:
2282:
2276:
2207:
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2195:
2184:Other companies
2179:
2136:
2088:
2047:
2041:
2036:
1999:on 2014-01-06.
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818:stock brokerage
797:
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543:Gary P. Brinson
531:currency market
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2362:Axel A. Weber
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2347:Marcel Rohner
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2310:
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2255:
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2240:
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2215:Colm Kelleher
2213:
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2208:and directors
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1217:on 2012-03-08
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541:SBC acquired
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376:In 1997, the
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27:
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19:
2372:JĂĽrg Zeltner
2342:Marcel Ospel
2317:Ralph Hamers
2307:Blair Effron
2262:Chi-Won Yoon
2142:Paine Webber
2093:
2048:predecessors
2000:
1997:the original
1973:
1962:. Retrieved
1952:
1941:. Retrieved
1927:
1915:
1903:
1890:
1878:
1859:
1847:
1835:
1823:
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2247:Tom Naratil
2074:Interhandel
1298:UBS History
989:(est. 1889)
972:(est. 1882)
946:(est. 1889)
751:Dillon Read
331:World War I
276:joint-stock
135:Switzerland
64:Predecessor
2418:Categories
2337:Ken Moelis
2302:John Cryan
2283:executives
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2046:Historical
1964:2009-02-20
1943:2009-02-20
1221:2014-08-27
1192:References
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648:white shoe
438:GE Capital
272:Bankverein
1490:Got Risk?
412:1945–1990
302:1900–1939
117:Successor
1960:. Nzz.ch
1867:Archived
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1141:See also
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46:Industry
41:Acquired
2204:Current
492:toward
228:History
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76:Founded
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1584:, 1999
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171:CHF
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