In Switzerland the UBS is one of the biggest economic players that suffered a tremendous image loss and lost a a lot of money during the subprime mortgage crisis (Dec 07 to June 09). Meanwhile the bank has recovered its image and the money and is now again making a lot of money.
The Union Bank of Switzerland (UBS) is a global finance service company and one of the biggest wealth management banks. By 2016 it was represented in 54 countries with over a 1000 branches. In Switzerland alone there are around 300 branches that cater to the needs of people from all walks of life and not just a wealthy clientele only. Most of their 1’250 ATMs are mainly in Switzerland. It’s e-banking is really excellent.
On a global scale the UBS competes with the other Swiss banking giant, the Credit Swiss. Since its recovery from the big crisis where the Swiss government had to bail out the bank it has overtaken the Credit Swiss. The UBS is among the top 10 of the world’s investment banks.
Switzerland is really a small country with quite a number of big players, such as the two huge Swiss banks (UBS and Credit Swiss), Nestlé, Glencore, Novartis, Zurich Insurance Group, Roche Group, ABB etc