When did UBS merge with Union Bank of Switzerland?

In 1998 the Union Bank of Switzerland merged with the Swiss Bank Corporation to form UBS AG, which became one of the largest banks in the world. The Editors of Encyclopaedia Britannica This article was most recently revised and updated by Brian Duignan.

Where is Union Bank of Switzerland located?

The Union Bank of Switzerland's principal office at Bahnhofstrasse 45 in Zurich served as the headquarters for the combined bank. On 8 December 1997, Union Bank of Switzerland and Swiss Bank Corporation announced an all-stock merger.

Who was the first chairman of Union Bank of Switzerland?

After the merger of the Bank in Winterthur and the Toggenburger Bank to form Union Bank of Switzerland (UBS), Dr. Rudolf Ernst became the merged bank's first chairman in 1912. Following his resignation in 1941, he was elected as an Honorary chairman of Union Bank of Switzerland.

How did Credit Suisse become the largest bank in Switzerland?

The acquisition propelled Credit Suisse ahead of UBS as the largest bank in Switzerland for the first time. UBS instead settled on a group of less audacious acquisitions, purchasing a group of smaller banks in Switzerland in 1994 and then acquiring the Cantonal Bank of Appenzell-Ausserrhoden in 1996.