Founded in its modern form in 1998 through the merger of Union Bank of Switzerland and Swiss Bank Corporation, UBS traces its roots back to the mid-19th century as part of Switzerland’s long tradition of private banking and financial stability. The combined firm quickly became one of the world’s largest financial institutions, with leading positions in wealth management, investment banking, and asset management. UBS played a major role in global capital markets through the late 1990s and early 2000s, though it faced significant losses during the 2008 financial crisis, prompting a strategic shift toward its core strength in global wealth management. In 2023, UBS further consolidated its position by acquiring Credit Suisse in a government-backed transaction, marking one of the most significant banking deals since the financial crisis. Today, UBS is widely regarded as the world’s leading wealth manager, known for serving ultra-high-net-worth clients and maintaining a dominant presence in global private banking.