outgrowth of the former Paine Webber brokerage business. 72 Following two major acquisitions in 1986 ( Phillips Drew and Deutsche Länderbank UBS made its first purchase in the United States in 1991 with Chase Investors Management Corporation, the asset management business of Chase Manhattan Bank. "UBS seeks to offload Australian wealth unit to management". 196 In 2008 during the subprime mortgage crisis, GIC Private Limited invested CHF 11 billion into UBS to help bail it out, thus becoming the largest single shareholder. "UBS Faces Questions on Oversight After a Trader Lost 2 Billion". "UBS at a glance. 175 On, it was reported that UBS had become the largest private banker in the world, with.7 trillion in assets. Retrieved b c d e f Schütz, Dirk (2000).
200 The most prominent was the Federal Act on Banks and Savings Banks, known simply as the "Banking comment travailler sur internet et gagner de l'argent Law of 1934". Ermotti, who had spent many years at what is now Bank of America Merrill Lynch, had joined UBS in April from UniCredit Group ; Kengeter was a German national who joined UBS from Goldman Sachs in 2008 and who had reportedly disagreed with some UBS. Institutions to global markets, for US750 million. Retrieved 27 January 1 maint: Multiple names: authors list ( link ) Benedetti-Valentini, Fabio and Jeffrey Voegeli (17 February 2015). 225 In July 2014, the bank was required to post a bond.1 billion euros, which UBS complied with while making multiple appeals in the French court system, finally losing its appeal at the Cour de Cassation, France's highest court. Archived from the original on Retrieved tevenson, Richard. Former Bundesbank president Axel. 214 In special circumstances, UBS contracts smaller banks in Southern Switzerland to maintain company assets. Retrieved "UBS fined.5bn for Libor rigging". 144 In response to its losses, UBS announced a CHF 15 billion rights offering to raise the additional funds need to shore up its depleted reserves of capital. The New York Times, 22 February 1991 UBS Banks on Conservative Strategies - Industry Leader Avoids Troubles That Have Snared Main Swiss Rivals.