UBP

History and Founding

Union Bancaire Privée traces its origins to 11 November 1969, when Edgar de Picciotto founded the Compagnie de Banque et d’Investissements (CBI) in Geneva. The bank assumed its current name in 1990 after acquiring TDB-American Express Bank. A series of well-timed acquisitions followed: the Discount Bank and Trust Company (2002), the Swiss arm of ABN Amro (2011), Nexar Capital Group (2012), Lloyds Banking Group’s International Private Banking business (2013), Coutts International’s operations in Switzerland, Monaco and the Middle East (2015), Banque Carnegie Luxembourg (2018), Millennium Banque Privée (2021), and Danske Bank International (Luxembourg) (2021). The bank also expanded in the UK via the acquisition of ACPI in 2018.

Business Model and Products

UBP is a pure-play wealth and asset manager, generating revenue through management fees, performance fees, Lombard lending, and structured product issuance. It offers comprehensive private banking services including bespoke portfolio management, wealth planning, succession structuring, and family office solutions. For institutional clients, UBP provides multi-asset investment solutions and alternative investments including fund-of-hedge funds and private markets advisory. External asset managers gain access to direct trading (DAC), a wide range of structured products, Actively Managed Certificates (AMCs), and the CREAM platform for centralised certificate management.

Market Position and Financial Strength

UBP is one of the largest private banks in Switzerland and among the world’s biggest non-listed, family-owned private banks. It reported group profit of CHF 169.4 million in the first half of 2026, up 40.4% year-on-year. Assets under management stood at CHF 193.5 billion. The bank maintains a Tier 1 ratio of 22.5% and a Moody’s Aa2 long-term deposit rating. Its global presence spans Europe, the Middle East, Asia, and Latin America, with around 2,667 employees.

Governance and Leadership

The de Picciotto family retains control: Daniel de Picciotto serves as Chairman and Guy de Picciotto as CEO. The bank’s governance is led by a board and executive committee that includes Group CIO and Co-CEO Asset Management Michaël Lok, Group COO Ian Cramb, CIO Alexandre Wirthner, Group Chief Strategist Norman Villamin, Chief Economist Patrice Gautry, Global Head of Advisory & Asset Allocation Nicolas Laroche, and Head of Investment Services UK Peter Kinsella.

Regulatory and Legal Note

UBP is regulated by FINMA. In 2010, the bank reached a landmark $500 million settlement with the Madoff trustee, becoming the first bank to settle such claims. The bank continues to operate from its Geneva headquarters, focusing on long-term wealth preservation and intergenerational value.