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UBS

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Corporation

The Resume

    (June 29, 1998- )
    Investment bank and financial services company
    Formed by the merger of Union Bank of Switzerland and Swiss Bank Corporation
    Largest bank in Switzerland
    Third-largest private bank in Europe
    $1.1 trillion in assets
    2022 revenues of $34.6 billion

Why UBS might be annoying:

    Its predecessor, Union Bank of Switzerland, was actively involved in trading gold, securities and other assets stolen by the Nazis during World War II and the Holocaust.
    Its name does not stand for anything. (It was supposed to be 'United Bank of Switzerland' but there was a conflict with United Bank -- Switzerland, the Swiss subsidiary of United Bank, Ltd.)
    It was fined $100 million by the Federal Reserve for trading in dollars with Iran and other sanctioned nations (2004).
    It lost nearly $50 billion in the subprime mortgage crisis (2007-09), more than any other bank.
    It lost over $2 billion due to unauthorized trades by Kwaku Adoboli, director of the bank's Global Equity Trading team (2011).
    Company officials later admitted that the bank's computer system had issued warnings about Adoboli's trades, but they were not acted on.
    Due to Swiss bank secrecy laws, it has been repeatedly investigated for aiding and abetting tax evasion by its clients.

Why UBS might not be annoying:

    It consistently appears on 'Working Mother' magazine's annual lists of the best companies for working moms.
    The three keys of its logo (inherited from Swiss Bank Corporation) represent the values of confidence, security, and discretion.
    It inspires a high degree of brand loyalty among its clients.
    Its clients include about half of the world's billionaires.

Credit: C. Fishel


Featured in the following Annoying Collections:

Year In Review:

    For 2024, as of last weekly ranking, Out of 1 Votes: 100% Annoying
    In 2023, Out of 28 Votes: 32.14% Annoying