The legal entity group structure of UBS is designed to support the Group's businesses within an efficient legal, tax, regulatory and funding framework. Neither the Business Groups of UBS (namely Investment Bank, Global Wealth Management & Business Banking and Global Asset Management) nor Corporate Center are replicated in their own individual legal entities, but rather they generally operate out of UBS AG (Parent Bank) through its Swiss and foreign branches.
The parent bank structure allows UBS to capitalize on the advantages offered by the use of one legal platform by all the Business Groups. It provides for the most cost-efficient and flexible structure and facilitates efficient allocation and use of capital, comprehensive risk management and control and straightforward funding processes.
Where, usually due to local legal, tax or regulatory rules or due to additional legal entities joining the UBS Group via acquisition, it is either not possible or not efficient to operate out of the Parent Bank, then local subsidiary companies host the businesses. The significant operating subsidiary companies in the Group are listed below:
Significant subsidiaries | |||||
Company | Jurisdiction of incorporation | Business Group 1 | Share capital in millions | Equity interest accumulated in % | |
Banco UBS Pactual S.A. | Rio de Janeiro, Brazil | IB | BRL | 296.7 | 100.0 |
Banco UBS S.A. | Rio de Janeiro, Brazil | IB | BRL | 52.9 | 100.0 |
Crédit Industriel Société Anonyme in Liquidation | Zurich, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
Dillon Read Capital Management (Singapore) Pte. Ltd. | Singapore, Singapore | Global AM | USD | 8.6 | 100.0 |
Dillon Read Capital Management (UK) Ltd | London, Great Britain | Global AM | GBP | 18.0 | 100.0 |
Dillon Read Capital Management LLC | Delaware, USA | Global AM | USD | 12.5 | 100.0 |
Dillon Read Solutions Pte. Ltd. | Singapore, Singapore | Global AM | USD | 1.1 | 100.0 |
Noriba Bank BSC | Manama, Bahrain | Global WM&BB | USD | 10.0 | 100.0 |
OOO UBS Bank | Moscow, Russia | IB | RUB | 1,250.0 | 100.0 |
PT UBS Securities Indonesia | Jakarta, Indonesia | IB | IDR | 100,000.0 | 98.4 |
Thesaurus Continentale Effekten | Zurich, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
UBS (Bahamas) Ltd. | Nassau, Bahamas | Global WM&BB | USD | 4.0 | 100.0 |
UBS (France) S.A. | Paris, France | Global WM&BB | EUR | 25.7 | 100.0 |
UBS (Grand Cayman) Limited | George Town, Cayman Islands | IB | USD | 25.0 | 100.0 |
UBS (Italia) S.p.A. | Milan, Italy | Global WM&BB | EUR | 60.0 | 100.0 |
UBS (Luxembourg) S.A. | Luxembourg, Luxembourg | Global WM&BB | CHF | 150.0 | 100.0 |
UBS (Monaco) S.A. | Monte Carlo, Monaco | Global WM&BB | EUR | 9.2 | 100.0 |
UBS Advisory and Capital Markets Australia Ltd | Sydney, Australia | IB | AUD | 580.8 2 | 100.0 |
UBS Alternative and Quantitative Investments LLC | Delaware, USA | Global AM | USD | 0.1 | 100.0 |
UBS Americas Inc | Delaware, USA | IB | USD | 0.0 | 100.0 |
UBS Asesores SA | Panama, Panama | Global WM&BB | USD | 0.0 | 100.0 |
UBS Bank (Canada) | Toronto, Canada | Global WM&BB | CAD | 8.5 | 100.0 |
UBS Bank USA | Utah, USA | Global WM&BB | USD | 1,700.0 | 100.0 |
UBS Belgium SA/NV | Brussels, Belgium | Global WM&BB | EUR | 23.0 | 100.0 |
UBS Capital (Jersey) Ltd | St. Helier, Jersey | IB | GBP | 181.0 | 100.0 |
UBS Capital AG | Zurich, Switzerland | IB | CHF | 5.0 | 100.0 |
UBS Capital B.V. | Amsterdam, the Netherlands | IB | EUR | 78.8 2 | 100.0 |
UBS Card Center AG | Glattbrugg, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
UBS Clearing and Execution Services Limited | London, Great Britain | IB | USD | 50.0 | 100.0 |
UBS Commodities Canada Ltd. | Toronto, Canada | IB | USD | 11.3 | 100.0 |
UBS Corporate Finance Italia SpA | Milan, Italy | IB | EUR | 1.9 | 100.0 |
UBS Derivatives Hong Kong Limited | Hong Kong, China | IB | HKD | 60.0 | 100.0 |
UBS Deutschland AG | Frankfurt am Main, Germany | Global WM&BB | EUR | 176.0 | 100.0 |
UBS Employee Benefits Trust Limited | St. Helier, Jersey | CC | GBP | 0.0 | 100.0 |
UBS Energy LLC | Delaware, USA | IB | USD | 0.0 | 100.0 |
UBS España, S.A. | Madrid, Spain | Global WM&BB | EUR | 72.2 | 100.0 |
UBS Factoring AG | Zurich, Switzerland | Global WM&BB | CHF | 5.0 | 100.0 |
Company | Jurisdiction of incorporation | Business Group 1 | Share capital in millions | Equity interest accumulated in % | |
UBS Fiduciaria S.p.A. | Milan, Italy | Global WM&BB | EUR | 0.2 | 100.0 |
UBS Fiduciary Trust Company | New Jersey, USA | Global WM&BB | USD | 4.4 2 | 100.0 |
UBS Finance (Cayman Islands) Ltd. | George Town, Cayman Islands | CC | USD | 0.5 | 100.0 |
UBS Finance (Curação) N.V. | Willemstad, Netherlands Antilles | CC | USD | 0.1 | 100.0 |
UBS Finance (Delaware) LLC | Delaware, USA | IB | USD | 37.3 2 | 100.0 |
UBS Financial Services Inc. | Delaware, USA | Global WM&BB | USD | 2,005.8 2 | 100.0 |
UBS Financial Services Incorporated of Puerto Rico | Hato Rey, Puerto Rico | Global WM&BB | USD | 31.0 2 | 100.0 |
UBS Fund Advisor, L.L.C. | Delaware, USA | Global WM&BB | USD | 0.0 | 100.0 |
UBS Fund Holding (Luxembourg) S.A. | Luxembourg, Luxembourg | Global AM | CHF | 42.0 | 100.0 |
UBS Fund Holding (Switzerland) AG | Basel, Switzerland | Global AM | CHF | 18.0 | 100.0 |
UBS Fund Management (Switzerland) AG | Basel, Switzerland | Global AM | CHF | 1.0 | 100.0 |
UBS Fund Services (Cayman) Ltd | George Town, Cayman Islands | Global AM | USD | 5.6 | 100.0 |
UBS Fund Services (Ireland) Limited | Dublin, Ireland | Global AM | EUR | 1.3 | 100.0 |
UBS Fund Services (Luxembourg) SA | Luxembourg, Luxembourg | Global AM | CHF | 2.5 | 100.0 |
UBS Futures Singapore Ltd. | Singapore, Singapore | IB | USD | 39.8 2 | 100.0 |
UBS Global Asset Management (Americas) Inc | Delaware, USA | Global AM | USD | 0.0 | 100.0 |
UBS Global Asset Management (Australia) Ltd | Sydney, Australia | Global AM | AUD | 8.0 | 100.0 |
UBS Global Asset Management (Canada) Co | Toronto, Canada | Global AM | CAD | 117.0 | 100.0 |
UBS Global Asset Management (Deutschland) GmbH | Frankfurt am Main, Germany | Global AM | EUR | 7.7 | 100.0 |
UBS Global Asset Management (France) S.A. | Paris, France | Global WM&BB | EUR | 2.1 | 100.0 |
UBS Global Asset Management (Hong Kong) Limited | Hong Kong, China | Global AM | HKD | 25.0 | 100.0 |
UBS Global Asset Management (Italia) SIM SpA | Milan, Italy | Global AM | EUR | 2.0 | 100.0 |
UBS Global Asset Management (Japan) Ltd | Tokyo, Japan | Global AM | JPY | 2,200.0 | 100.0 |
UBS Global Asset Management (Singapore) Ltd | Singapore, Singapore | Global AM | SGD | 4.0 | 100.0 |
UBS Global Asset Management (Taiwan) Ltd | Taipei, Taiwan | Global AM | TWD | 340.0 | 100.0 |
UBS Global Asset Management (US) Inc | Delaware, USA | Global AM | USD | 35.2 2 | 100.0 |
UBS Global Asset Management Holding Ltd | London, Great Britain | Global AM | GBP | 48.0 | 100.0 |
UBS Global Life AG | Vaduz, Liechtenstein | Global WM&BB | CHF | 5.0 | 100.0 |
UBS Global Trust Corporation | St. John, Canada | Global WM&BB | CAD | 0.1 | 100.0 |
UBS International Holdings B.V. | Amsterdam, the Netherlands | CC | EUR | 6.8 | 100.0 |
UBS International Inc. | New York, USA | Global WM&BB | USD | 44.3 2 | 100.0 |
UBS International Life Limited | Dublin, Ireland | Global WM&BB | EUR | 1.0 | 100.0 |
UBS Investment Management Canada Inc. | Toronto, Canada | Global WM&BB | CAD | 0.0 | 100.0 |
UBS Italia SIM SpA | Milan, Italy | IB | EUR | 15.1 | 100.0 |
UBS Leasing AG | Zurich, Switzerland | Global WM&BB | CHF | 10.0 | 100.0 |
UBS Life AG | Zurich, Switzerland | Global WM&BB | CHF | 25.0 | 100.0 |
UBS Life Insurance Company USA | California, USA | Global WM&BB | USD | 39.3 2 | 100.0 |
UBS Limited | London, Great Britain | IB | GBP | 29.4 | 100.0 |
UBS Loan Finance LLC | Delaware, USA | IB | USD | 16.7 | 100.0 |
UBS Menkul Degerler AS | Istanbul, Turkey | IB | TRY | 0.4 | 100.0 |
UBS Mortgage Holdings LLC | Delaware, USA | Global WM&BB | USD | 0.0 | 100.0 |
UBS New Zealand Limited | Auckland, New Zealand | IB | NZD | 7.5 | 100.0 |
UBS O'Connor LLC | Delaware, USA | Global AM | USD | 1.0 | 100.0 |
UBS Pactual Asset Management S.A. DTVM | Rio de Janeiro, Brazil | Global AM | BRL | 53.9 | 100.0 |
UBS Portfolio LLC | Delaware, USA | IB | USD | 0.1 | 100.0 |
UBS Preferred Funding Company LLC I | Delaware, USA | CC | USD | 0.0 | 100.0 |
UBS Preferred Funding Company LLC II | Delaware, USA | CC | USD | 0.0 | 100.0 |
UBS Preferred Funding Company LLC IV | Delaware, USA | CC | USD | 0.0 | 100.0 |
Company | Jurisdiction of incorporation | Business Group 1 | Share capital in millions | Equity interest accumulated in % | |
UBS Principal Finance LLC | Delaware, USA | IB | USD | 0.1 | 100.0 |
UBS Real Estate Investments Inc | Delaware, USA | Global AM | USD | 0.0 | 100.0 |
UBS Real Estate Kapitalanlagegesellschaft mbH | Munich, Germany | Global AM | EUR | 7.5 | 51.0 |
UBS Real Estate Securities Inc | Delaware, USA | IB | USD | 0.4 2 | 100.0 |
UBS Realty Investors LLC | Massachusetts, USA | Global AM | USD | 9.3 | 100.0 |
UBS Sauerborn Private Equity Komplementär GmbH | Bad Homburg, Germany | Global WM&BB | EUR | 0.0 | 100.0 |
UBS Securities (Thailand) Ltd | Bangkok, Thailand | IB | THB | 400.0 | 100.0 |
UBS Securities Asia Limited | Hong Kong, China | IB | HKD | 20.0 | 100.0 |
UBS Securities Australia Ltd | Sydney, Australia | IB | AUD | 209.8 2 | 100.0 |
UBS Securities Canada Inc | Toronto, Canada | IB | CAD | 10.0 | 100.0 |
UBS Securities España Sociedad de Valores SA | Madrid, Spain | IB | EUR | 15.0 | 100.0 |
UBS Securities France S.A. | Paris, France | IB | EUR | 22.9 | 100.0 |
UBS Securities Hong Kong Limited | Hong Kong, China | IB | HKD | 230.0 | 100.0 |
UBS Securities India Private Limited | Mumbai, India | IB | INR | 237.8 | 75.0 |
UBS Securities International Limited | London, Great Britain | IB | GBP | 18.0 | 100.0 |
UBS Securities Japan Ltd | George Town, Cayman Islands | IB | JPY | 60,000.0 | 100.0 |
UBS Securities Limited | London, Great Britain | IB | GBP | 140.0 | 100.0 |
UBS Securities LLC | Delaware, USA | IB | USD | 2,455.6 2 | 100.0 |
UBS Securities Malaysia Sdn. Bhd. | Kuala Lumpur, Malaysia | IB | MYR | 75.0 | 100.0 |
UBS Securities Philippines Inc | Makati City, Philippines | IB | PHP | 190.0 | 100.0 |
UBS Securities Pte. Ltd. | Singapore, Singapore | IB | SGD | 311.5 | 100.0 |
UBS Securities Pte. Ltd. Seoul Branch | Seoul, South Korea | IB | KRW | 150,000.0 | 100.0 |
UBS Services USA LLC | Delaware, USA | Global WM&BB | USD | 0.0 | 100.0 |
UBS South Africa (Proprietary) Limited | Sandton, South Africa | IB | ZAR | 87.1 2 | 100.0 |
UBS Swiss Financial Advisers AG | Zurich, Switzerland | Global WM&BB | CHF | 1.5 | 100.0 |
UBS Trust Company National Association | New York, USA | Global WM&BB | USD | 5.0 2 | 100.0 |
UBS Trustees (Bahamas) Ltd | Nassau, Bahamas | Global WM&BB | USD | 2.0 | 100.0 |
UBS Trustees (Cayman) Ltd | George Town, Cayman Islands | Global WM&BB | USD | 2.0 | 100.0 |
UBS Trustees (Jersey) Ltd. | St. Helier, Jersey | Global WM&BB | GBP | 0.0 | 100.0 |
UBS Trustees (Singapore) Ltd | Singapore, Singapore | Global WM&BB | SGD | 3.3 | 100.0 |
UBS UK Holding Limited | London, Great Britain | IB | GBP | 5.0 | 100.0 |
UBS UK Properties Limited | London, Great Britain | IB | GBP | 100.0 | 100.0 |
UBS Wealth Management (UK) Ltd | London, Great Britain | Global WM&BB | GBP | 2.5 | 100.0 |
UBS Wealth Management Australia Ltd | Melbourne, Australia | Global WM&BB | AUD | 53.9 | 100.0 |
Consolidated companies: changes in 2006 |
Significant new companies |
Banco UBS Pactual S.A. – Rio de Janeiro, Brazil |
Dillon Read Capital Management (Singapore) Pte. Ltd. – Singapore, Singapore |
Dillon Read Capital Management (UK) Ltd – London, Great Britain |
Dillon Read Capital Management LLC – Delaware, USA |
Dillon Read Solutions Pte. Ltd. – Singapore, Singapore |
OOO UBS Bank – Moscow, Russia |
UBS Clearing and Execution Services Limited – London Great Britain |
UBS Futures Singapore Ltd. – Singapore, Singapore |
UBS Menkul Degerler AS – Instanbul, Turkey |
UBS Pactual Asset Management S.A. DTVM – Rio de Janeiro, Brazil |
UBS Sauerborn Private Equity Komplementär GmbH – Bad Homburg, Germany |
Deconsolidated companies | |
Significant deconsolidated companies | Reason for deconsolidation |
Aare-Tessin AG für Elektrizität – Olten, Switzerland | Sold |
Atel Energia S.r.l. – Milan, Italy | Sold |
Atel Installationstechnik AG – Olten, Switzerland | Sold |
Entrade GmbH – Schaffhausen, Switzerland | Sold |
Etra SIM SpA – Milan, Italy | Merged |
GAH Beteiligungs AG – Heidelberg, Germany | Sold |
Motor-Columbus AG – Baden, Switzerland | Sold |
Società Elettrica Sopracenerina SA – Locarno, Switzerland | Sold |
UBS (Trust and Banking) Limited – Tokyo, Japan | Liquidated |
UBS Capital II LLC – Delaware, USA | Liquidated |
UBS Preferred Funding Company LLC III – Delaware, USA | Liquidated |
Significant associates | ||||
Company | Industry | Equity interest in % | Share capital in millions | |
SIS Swiss Financial Services Group AG – Zurich, Switzerland | Financial | 32.9 | CHF 26 | |
Telekurs Holding AG – Zurich, Switzerland | Financial | 33.3 | CHF 45 | |
UBS Alpha Select – George Town, Cayman Islands | Private Investment Company | 37.4 | USD 896 1 | |
UBS Alpha Hedge Fund – George Town, Cayman Islands | Private Investment Company | 21.8 | USD 427 1 | |
UBS Currency Portfolio Ltd – George Town, Cayman Islands | Private Investment Company | 29.9 | USD 517 1 | |
ATR Acquisition LLC – Texas, USA | Manufacturing | 24.2 | USD 314 | |
Waterside Plaza Holdings LLC – Delaware, USA | Real Estate | 50.0 | USD 119 | |
A&Q Select Funds – Euro Limited – George Town, Cayman Islands | Private Investment Company | 22.0 | USD 316 1 | |
Williamsburg Edge LLC – Delaware, USA | Real Estate | 50.0 | USD 78 | |
Dillon Read Financial Products Trading Ltd – George Town, Cayman Islands | Private Investment Company | 7.1 2 | USD 542 | |
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