UBS Bank USA, a fully-owned subsidiary of UBS AG, is based in Salt Lake City, Utah. It offers wealth management, investment banking and asset & liability management solutions to an exclusive group of clients consisting of affluent individuals, corporate bigwigs and business magnates.
Falling in the category of Utah industrial bank, it is invariably regulated by the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of Financial Institutions. The deposit accounts at UBS Bank USA are, thus, FDIC-insured and the lending services to investors are backed by securities. At some places, UBS services are accessible through its affiliate UBS Financial Services, Inc.
UBS AG, the parent company, is based in Basel and Zurich in Switzerland. It is regarded as a world leader in investment banking, asset management and wealth management. With operations in more than 50 countries worldwide, it is a well-known global financial services company the world over.
The bank also provides services like private banking, corporate banking, private equity, consumer banking, finance & insurance, mortgages, and credit cards in one location or the other. Originally known as Union Bank of Switzerland, which traces its history to 1854, UBS now represents the company that came into existence after a merger of Union Bank of Switzerland and Swiss Bank Corporation in 1998.
UBS deposit accounts in the US are insured by the FDIC to a maximum of $250,000 per depositor including principal and accrued interest. Under the Premier Fixed Credit Line, the bank can advances a loan of $100,000 or more to individuals and businesses. One can also borrow from UBS Bank USA under a Premier Variable Credit Line at a variable interest rate, which has a reference rate based on the 30-day London Interbank Offered Rate (LIBOR).
|Bank Name||UBS Bank USA|
|Year of Establishment||9/15/2003|
|FDIC Insured Since||9/15/2003|
|FDIC Certificate No||57565|
|Number of Branches||1 domestic + 0 foreign|
|Number of ATMs|
|Number of Employees||134|
|Number of States Served||1 State|
|Services Offered (Available Accounts)|
|Mobile and Online Banking|
|Assets (June 30, 2014)||44,982,782|
|Deposits (June 30, 2014)||40,508,678|
|Equity Capital (June 30, 2014)||4,288,567|
|Net Income (June 30, 2014)||110,805|
|Primary Federal Regulator||Federal Deposit Insurance Corporation (FDIC)|
|Address||299 South Main Street, Suite 2275, Salt Lake City,UT 84111|
(Courtesy: FDIC as on June 30, 2014)