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UBS Seeks U.S. Banking License to Expand Wealth Services

10/28/2025

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Summary

Story summary

UBS has applied for a U.S. banking license under a National Bank Charter to expand its wealth management services and offer a full range of banking products in the United States, including checking and savings accounts.
The move follows UBS's 2023 acquisition of Credit Suisse and aims to strengthen its presence in the U.S. market as part of its growth strategy.
UBS expects regulatory approval in 2026, but acknowledges that product development will take years.
The U.S. market is vital, with over 1,000 individuals becoming millionaires daily in 2024.

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Story summary

UBS has applied for a U.S. banking license under a National Bank Charter to expand its wealth management services and offer a full range of banking products in the United States, including checking and savings accounts.
The move follows UBS's 2023 acquisition of Credit Suisse and aims to strengthen its presence in the U.S. market as part of its growth strategy.
UBS expects regulatory approval in 2026, but acknowledges that product development will take years.
The U.S. market is vital, with over 1,000 individuals becoming millionaires daily in 2024.