Answer: UBS AG
UBS AG is a diversified global financial services company, with its main headquarters in Basel and Zürich, Switzerland. It is the world's second largest manager of private wealth assets, and is also the second-largest bank in Europe, by both market capitalisation and profitability. UBS has a major presence in the United States, with its American headquarters located in New York City (Investment banking); Weehawken, New Jersey (Private Wealth Management); and Stamford, Connecticut (Capital markets). UBS's retail offices are located throughout the U.S., and in over 50 other countries. UBS is an abbreviation, which originated from a predecessor firm, for the Union Bank of Switzerland; however, UBS ceased to be considered a representational abbreviation after its 1998 merger with Swiss Bank Corporation.
UBS was the result of the merger of the Union Bank of Switzerland and the Swiss Bank Corporation (SBC) in June 1998. Although the merged company's new name was originally supposed to be the "United Bank of Switzerland," officials opted to call it simply "UBS" because of a name clash with United Bank Switzerland - a part of the United Bank Limited's Swiss subsidiary. UBS is no longer an acronym but is the company's brand, like 3M. Its logo of three keys, carried over from SBC, stands for confidence, security, and discretion.
