UBS to trial US banking services in push for wealthy American clients - FT

UBS has received approval to convert UBS Bank USA into a nationally chartered bank, a strategic move that aligns with the firm’s broader ambitions in the U.S. wealth management market. The national bank charter is expected to enhance the firm’s ability to serve clients and financial advisors by strengthening its banking infrastructure and expanding operational flexibility. UBS has emphasized that this transition will not disrupt existing services for clients, who will continue to access account and cash management services through their financial advisors.

The U.S. remains a core market for UBS, with a focus on supporting financial advisors through robust resources, including access to senior leadership, a global network of investment specialists, and a collaborative culture. UBS Wealth Management in the U.S. is currently one of the most productive in the industry, with an average of $353 million in assets under management per advisor. The firm’s recent expansion into digital wealth management, including the acquisition of Wealthfront, further underscores its commitment to integrating advanced technology with personalized advisory services.

With the U.S. home to the largest number of millionaires and billionaires globally, UBS continues to prioritize investments in its domestic wealth management operations. The national bank charter is seen as a foundational step toward building a more integrated and future-ready banking platform.