UBS obtains licence to manage wealth in the US.
Keystone-SDA
Swiss bank UBS will be able to expand its services for clients in the US. It has received the national banking licence it has been seeking for some time from the relevant US authorities.
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For UBS, this is an important milestone that underlines its long-term commitment to the US market, the bank announced in a statement on social media on Friday. The licence will strengthen the banking platform in the US and improve the bank’s services for its clients and financial advisors.
The Swiss bank had been seeking to obtain a national banking licence since last autumn.
UBS’s new status with its national banking licence will allow the bank to offer its US clients more “everyday banking services” in future, such as demand deposits and additional credit products, according to US officials. In addition to the clientele of the “super-rich”, experts believe that the bank could also better serve the broader segment of wealthy clients.
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Rob Karofsky, member of the Executive Board and President of UBS Americas, expressed his delight in a video posted online. The licence supports UBS’s growth strategy in the US, he said. It offers the bank “significant opportunities” to strengthen its lending and deposit business as well as increase assets and profitability, he added. “Ultimately, it will strengthen UBS’s overall offering.”
Recent US headwinds
However, the major Swiss bank has recently faced headwinds in its US business. In February, it had to report net outflows of $14.1 billion (CHF11.1 billion) for the Americas region in the fourth quarter of 2025. At the end of 2025, the bank also had around 200 fewer US advisors than a year earlier.
UBS shares showed little reaction to the news from the US on Friday. In the afternoon, the bank’s shares were down 1% in a weak overall market.
Adapted from German by AI/ts
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