1862
Bank in Winterthur
Bank in Winterthur is the historical starting point of today's UBS. In 1912, Bank in Winterthur merged with Toggenburger Bank to form Union Bank of Switzerland.
1862
Warehouse
There was a push to transform Winterthur into Switzerland's leading cargo handling center while Bank in Winterthur was being founded. The bank was therefore tasked with managing a warehouse built by the Winterthur Chamber of Commerce (“Kaufmännische Gesellschaft Winterthur”).
1863
Toggenburger Bank
Toggenburger Bank, founded in Lichtensteig in Eastern Switzerland in 1863, is the second predecessor of Union Bank of Switzerland. It did business as a commercial and currency-issuing bank; it also focused on domestic mortgage and savings business. Toggenburger Bank was one of the few banks authorized to issue banknotes until the Swiss National Bank was founded in 1906.
1872
Basler Bankverein
The merger of Basler Bankverein with Zürcher Bankverein in 1896 and then with Basler Depositen-Bank one year later created Swiss Bank Corporation (SBC) in 1897. SBC and Union Bank of Switzerland merged to form UBS in 1998.
1898
Branch of Swiss Bank Corporation in London
Swiss Bank Corporation opened its first branch in London under the name Swiss Bankverein in 1898. This was the first branch of a Swiss bank in London, then the center of world trade and finance. During World War I, the bank had to deny several newspaper rumors that it was under German control. This was one of the reasons why the London branch changed its name from Swiss Bankverein to Swiss Bank Corporation (SBC) in 1917.
1899
Swiss Bank Corporation moves to Paradeplatz
In the same year that Basler Bankverein merged with Zürcher Bankverein (1886), the bank obtained land at Paradeplatz in Zurich, located directly opposite the headquarters of its competitor, Schweizerische Kreditanstalt (predecessor to today's Credit Suisse). After two years of construction using plans by architect Charles Mewès, the bank, by then called “Swiss Bank Corporation” (SBC), moved into the building in 1899. The monumental building lasted 57 years and was replaced in 1956 by a larger complex between Talstrasse, Talacker and Bärengasse.
1900
The Calculation Cylinder - a new mathematical instrument
At the turn of the century, an analog calculating device became the most widely used mathematical instrument in banking, the stock exchange and insurance: the calculation cylinder. It simplified various financial mathematical tasks and accelerated work processes in currency conversion, interest calculations, statistics, and even wages. Logarithmic calculation cylinders were also used at the SBV and SBG. Particularly popular were the calculation cylinders of local firms National and Loga-Calculator. The innovation of this instrument lay in the fact that the logarithmic slide rules were arranged on a cylinder, making the scale length of the rods shorter. The cylinders were more compact, equally accurate, and easier to use than slide rules. For simpler calculations, accountants still liked to use the slide rule.
1906
The expansion into western Switzerland
It was as early as 1875 that Basler Bank Corporation received a suggestion from Geneva – a financial center rich in tradition – to open a branch of the bank there. However, the idea was not realized until 1905 by the Swiss Bank Corporation (SBC), when a chance to take over the banking and commission business of the venerable firm d’Espine Fatio & Cie presented itself. On 15 February 1906, SBC opened the doors of its Geneva branch, which was still run by the partners of the company it had just acquired. In 1912, Swiss Bank Corporation acquired the Banque d’Escompte et de Dépôts in Lausanne, its second branch in French-speaking Switzerland, and in that same year moved into its new bank building in Geneva.
1907
The Swiss National Bank issues its first series of banknotes
With the opening of the five branches of the Swiss National Bank (SNB) in Basel, Bern, Geneva, St. Gallen and Zurich on 20 June 1907, the banknote monopoly came into force. The short time between the official establishment of the SNB in 1905 and the opening of the counter was not sufficient to produce new banknotes. That's why the first series consisted of so-called interim notes, a kind of provisional note. The copper printing plates and clichés of the old banknotes issued by the issuing banks were used for their production. In addition to the imprint "Swiss National Bank", a red rosette with the Swiss cross adorned the upper right corner of the front as the main feature. It was not until 1911 that the National Bank had its own notes with the second series.
1909
New Swiss Bank Corporation headquarters located at Aeschenvorstadt 1
In 1909, Swiss Bank Corporation (SBC) moved its headquarters, previously at Aeschenvorstadt 72, St. Alban-Graben, to Aeschenvorstadt 1. SBC’s new headquarters added a fresh accent to the cityscape with its striking structure, the historic facade of which dominates two streets. The bank retained the office at Aeschenvorstadt 72 for an additional four years before leasing it to affiliated businesses.
