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The subsidiary consists of the former subsidiaries of Germany, Italy, Luxembourg, Austria, Denmark, Sweden, Spain and the Netherlands.UBS Europe will operate in markets through a network of its branches. is an outgrowth of the former Paine Webber brokerage business.
More than 60% of total invested assets in UBS Wealth Management belong to individuals with a net-worth of CHF 10 million or more.The company provides wealth management, asset management, and investment banking services for private, corporate, and institutional clients worldwide, and is generally considered to be a bulge bracket bank.In Switzerland, these services are also offered to retail clients.In comparison to other European banks, UBS suffered among the largest losses during the subprime mortgage crisis, and it was required to raise large amounts of outside capital.The bank received a US$9.7 billion capital injection in 2007 from the Government of Singapore Investment Corporation (currently GIC Private Limited effective from July 2013), which remains one of the bank's largest shareholders.Of the remaining 40% of total invested assets, 30% of the total belong to individuals with net-worth between CHF 1 million and CHF 10 million and the last 10% of total assets belong to individuals with a net-worth of less than CHF 1 million.
Additionally, UBS provides a broad range of securities and savings products that are supported by the firm's underwriting and research activities as well as order execution and clearing services for transactions originated by individual investors. Two-thirds of the total invested assets come from Europe and Switzerland with the final one-third coming mainly from the Asia-Pacific region.
As of November 2017, UBS is present in all major financial centers worldwide, having offices in 52 countries, with about 34% of its approx.
61,000 employees working in the Americas, 34% in Switzerland, 18% in Europe, the Middle East and Africa and 14% in the Asia Pacific region.
In February 2017, UBS Group AG and the Northern Trust Corporation, an American international financial services company, announced an agreement for the acquisition of UBS Asset Management's fund administration servicing units in Luxembourg and Switzerland.
This acquisition will facilitate the expansion of the Northern Trust Corporation into these two countries, turning the American company into the major fund administrator in the local markets and into one of the ten global leaders in the sector.
Starting already on 9 June 2003, all UBS business groups, including UBS Paine Webber and UBS Warburg, were rebranded under the UBS moniker following company's start of operations as a unified global entity.