In 1998 the Swiss Bank Corporation (SBV) and the Union Bank of Switzerland joined together to become UBS. Out of this pioneering merger emerged the biggest bank in Switzerland, the world's largest asset manager, and a leading name in investment banking and the securities market.
Shortly before the merger the Union Bank of Switzerland had decided to expand its presence in the most important German market, and thus acquired Schröder Münchmeyer Hengst (SMH), one of Germany's leading private banks. Following the merger, UBS initially continued its asset management business in Germany under the name of Schröder Münchmeyer Hengst AG. Within the scope of the European Wealth Management Initiative, SMH was fully integrated and since July 1, 2003, has born the name UBS Wealth Management AG.
On June 3, 2005, for UBS operations in Germany the three business areas Wealth Management, Investment Bank and parts of Asset Management were combined to form a new company "UBS Deutschland AG".
On December 1, 2016, UBS Deutschland AG merged with UBS Europe SE. UBS Europe SE is – as UBS Deutschland AG before it – a cross-sectoral corporation, the core business of which is formed by Wealth Management. The Investment Bank and Asset Management business remain integral parts of our company.
As one of the leading wealth managers in Europe, we plan on continuously expanding our business in the European home market. In all our activities we continue our efforts to remain one of the leading banks in the European market and to always be the first choice for our clients. The amalgamation of our European business units underscores these ambitions.
UBS Europe SE is a cross divisional entity of Asset Management, Investment Banking and Wealth Management, with its core business in Wealth Management. The legal structure of UBS Europe SE consists of former UBS AG European Wealth Management subsidiaries and forms one single European financial institution. The merger was effective with its registration in the German commercial register in Frankfurt am Main on December 1st, 2016. Main reasons for the merger were the consolidation and simplification of the legal structures and the regulatory regime in Europe, the capital strength for clients as well as the creation of a standard operating model for the utilization of scale effects.
Consolidating our businesses facilitated us meeting all financial regulations and to make our commitment clear to serve clients all over Europe, thus retaining our position as Europe's leading wealth manager. As a direct result of UBS Europe SE's leaner and combined balance sheets, we increased our capabilities of making further investments into large and complex financial transactions as well as raised our capital position to maintain and increase your financial wealth. Furthermore, we are now in a position to offer you a wider range of solutions, including sustainable investments and philanthropic services, with the aim of enabling you the better management of your wealth.
The Management Board of UBS Europe SE is located in Frankfurt am Main and is supervised and advised by the European supervisory board. UBS Europe SE is a wholly owned subsidiary of UBS AG.