Strategy
UBS Launches European Subsidiary

The new subsidiary of the Swiss banking group has been named and will be headquartered in Frankfurt, confirming media reports earlier this year.
UBS is combining its wealth management businesses in Europe into
one legal entity, UBS Europe SE. The new European subsidiary is
headquartered in Frankfurt, Germany and will operate in European
markets through a network of branches.
In its new form, UBS Europe will simplify its governance
structure and increase operational efficiency across its European
operations, UBS said in a statement yesterday.
The choice of a societas Europaea, a type of public
limited-liability company regulated under EU law, as the
corporate structure for the entity provides UBS with strategic
flexibility, it said.
UBS Europe will be led by a management board with Thomas
Rodermann as its spokesperson. Its supervisory board will be
chaired by Roland Koch, who has been chairman of UBS Deutschland
since 2011.
In July this year, local Swiss media reported that the
headquarters of the European banking arm of UBS would switch
to Frankfurt. This publication understands that such a shift is
not specifically linked to the UK's vote to leave the European
Union. UBS senior managers have said, meanwhile, that the bank –
the world’s largest wealth manager – will not change its London
operations any time soon following the Brexit vote.