priv e type private industry financial services founded 1969 founder edgar de picciotto area served worldwide key people edgar de picciotto chairman guy de picciotto ceo products private banking asset management alternative investments aum chf 93.1 billion 1 number of employees 1 300 1 website www.ubp.com union bancaire priv e ubp sa was founded in 1969 by edgar de picciotto . it is one of the most highly capitalized private banks and a major player in the field of wealth management in switzerland with chf 93.1 billion of assets under management . 1 2 ubp is a full scale wealth management bank for private and institutional clients . the bank is headquartered in geneva switzerland and has 1 300 employees . 3 contents 1 history 2 corporate affairs 2.1 private banking 2.2 wealth planning 2.3 asset management 2.4 alternative investments 2.5 sales and trading 2.6 investment philosophy 2.7 financials 3 settlement with investment securities trustee 4 see also 5 references 6 external links history edit edgar de picciotto established the compagnie de banque et d investissements cbi in geneva on 11 november 1969 . cbi acquired tdb american express bank in 1990 which led to the creation of the current entity union bancaire priv e. ubp developed further with the takeover of the discount bank and trust company in 2002 . 4 5 in 2011 ubp acquired the swiss arm of dutch state owned abn amro bank a pure swiss private bank . 6 7 the same year ubp also broadened its operations in asia by establishing two joint ventures in hong kong and taiwan with transglobe . 8 in 2012 ubp acquired paris based fund of hedge funds nexar capital group which has offices in london jersey and new york . 9 in may 2013 ubp announced the acquisition of lloyds banking group s international private banking business . 10 on 26 march 2015 ubp signed an agreement with the royal bank of scotland group rbs to buy the international private banking activities of rbs s subsidiary coutts & co international . 11 these assets meant that ubp assumed control of their entities in switzerland monaco and the middle east . 12 corporate affairs edit private banking edit union bancaire priv e has over 300 private wealth managers in different countries and offers various management mandates and types of advice . 13 wealth planning edit ubp has built a team of experts that are specialized geographically in order to offer a global approach to wealth structuring . the team supports and steers clients towards appropriate wealth structuring strategies . as no structures are sold in house the team co operates with an international network of specialists . 14 with the services of foss family office services switzerland foss ubp offers a multi family office intermediary service . foss helps wealthy families in their search for and selection of a multi family office in switzerland . 15 asset management edit ubp is a full scale asset manager providing a large range of investments specifically geared towards its institutional clients needs . the bank offers a wide range of capabilities in asset allocation equities bonds diversification strategies and alternative fund of funds . 16 alternative investments edit ubp has been active in the alternative investment industry since the 1970s . over the years it has built up a strong hedge fund advisory service and runs several pooled funds and personalized mandates . with the acquisition of nexar in 2012 ubp demonstrated its ongoing commitment to the alternative industry . 17 in april 2013 ubp announced a partnership with guggenheim fund solutions gfs which is specialized in managed accounts within the full spectrum of hedge fund strategies . together they launched a new hedge fund platform . 18 sales and trading edit ubp services include advisory structured products equity trading and brokerage equity arbitrage currency and precious metal trading forwards and derivatives treasury management and bond trading . ubp has over 40 specialist traders working with private wealth managers . investment philosophy edit every year ubp publishes an annual outlook with an overview of macroeconomic events that occurred during the past year and its investment convictions for the year to come . 19 financials edit as of the end of june 2015 ubp s balance sheet total reached chf 19.5 billion and the return on shareholder equity was 8.5 % . by pursuing a conservative approach to risk management ubp has maintained a solid financial base and a strong balance sheet with a high level of liquidity . with a tier 1 capital ratio of 30.5 % as at 30 june 2015 ubp is one of the best capitalized banks in switzerland . 1 settlement with investment securities trustee edit despite being a victim of bernard madoff s fraud the bank offered in march 2009 to compensate eligible investors 50 percent of the money they initially invested with madoff . 20 on 6 december 2010 ubp announced it had reached a settlement with the trustee when it agreed to pay 500 million . ubp was the first bank to settle madoff trustee s claim . 21 with this settlement the trustee has agreed to discharge his clawback claims against ubp its affiliates and clients . 22 see also edit list of investors in bernard l. madoff securities references edit a b c d union bancaire priv e limits the negative effects of a stronger swiss franc posting a net result of chf 79.5 million . ubp . 28 july 2015 . ubp reports 12 % yoy rise in assets under management . investmenteurope . 31 january 2013 . profile . ubp . history . ubp . edgar de picciotto interview in french . radio t l vision suisse . 8 april 2012 . abn amro purchase boosts ubp assets . reuters . 25 january 2012 . ubp to buy swiss arm of abn amro . citywire . 16 august 2011 . ubp launches two asia focused joint ventures . citywire . 3 august 2011 . ubp to buy paris based alternatives group nexar . reuters . 29 february 2012 . lloyds sells international private banking business to ubp . bloomberg news . 29 may 2013 . rbs sells coutts international to ubp . bbc news . 27 march 2015 . retrieved 29 march 2015 . union bancaire privee completes its acquisition of coutts activities in asia . in brief . ubp q2 2013 . wealth and estate planning . ubp . we help you find the right family office . foss family office services switzerland . asset management . ubp . union bancaire priv e to acquire nexar capital group . ubp . 29 february 2012 . ubp picks guggenheim fund solutions to power hedge fund platform . investmenteurope . 22 april 2013 . union bancaire priv e outlook 2013 keep on pushing . business wire . 17 december 2012 . ubp makes offer to madoff victims . the new york times . 13 march 2009 . mccool grant 6 december 2010 . hsbc fights madoff claim ; new settlement reached . reuters . madoff trustee announces approximately 500 million recovery agreement with swiss bank union bancaire privee . pr newswire . 6 december 2010 . external links edit ubp website v t e banks of switzerland central swiss national bank commercial alternative bank schweiz credit suisse coop bank postfinance migros bank raiffeisen ubs cantonal aargauische kantonalbank akb appenzeller kantonalbank appkb banca dello stato del cantone ticino bancastato berner kantonalbank bekb bcbe banque cantonale de fribourg fkb banque cantonale de gen ve bcge banque cantonale du jura bcju banque cantonale du valais bwkb banque cantonale neuch teloise bcn banque cantonale vaudoise bcv basellandschaftliche kantonalbank blkb basler kantonalbank bkb glarner kantonalbank glkb graub ndner kantonalbank gkb luzerner kantonalbank lukb nidwaldner kantonabank nwkb obwaldner kantonalbank owkb st.galler kantonalbank sgkb shaffauser kantonalbank shkb schwyzer kantonalbank szkb thurgauer kantonalbank tkb urner kantonalbank urkb zuger kantonalbank zugerkb z rcher kantonalbank zkb private banca unione di credito banque bonh te berenberg bank banque hottinger et cie hsbc private bank julius baer group union bancaire priv e hinduja bank switzerland ltd retrieved from https en.wikipedia.org w index.php title union bancaire priv e & oldid 736903346 categories financial services companies of switzerlandmoney managersbanks established in 19691969 establishments in switzerlandcompanies based in genevamadoff investment scandalhidden categories cs1 french language sources fr pages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages deutschfran aislietuvi edit links this page was last modified on 30 august 2016 at 15 57 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view