Details of a deal to settle a U.S. tax case against Swiss bank UBS AG may come as soon as Wednesday and could have far-reaching implications for other wealth managers.
Here are some facts about UBS in the United States:
- UBS has 34,000 employees in the United States, more than rivals Morgan Stanley , Goldman Sachs Group Inc. , and Credit Suisse .
- The Swiss bank is the number one share trader across the New York Stock Exchange and Nasdaq combined.
- The bank's U.S. work force represents 37 per cent of its global staff.
- The Swiss bank expanded its presence in the United States in 2000 with the $10-billion acquisition of PaineWebber Group, a brokerage firm with over 8,500 brokers and $500-billion in client assets.
- UBS Wealth Management Americas managed 673 billion Swiss francs ($619.7-billion) in client assets at the end of March.
- The bank has around 2 million clients in the United States.
- UBS has locations in 381 cities across 49 states and the District of Columbia.