Goldman Sachs expects Nvidia ’beat and raise,’ lifts price target to $240
Investing.com -- UBS has filed an application for a national banking license in the United States, the Swiss bank announced Monday, marking a significant step in its growth strategy for the American market.
In a staff memo, Rob Karofsky, President of UBS Americas, and Michael Camacho, Head of UBS Global Wealth Management US, confirmed the bank had submitted its application for a National Bank Charter for UBS Bank USA.
The initiative is part of the bank’s long-term strategy to strengthen its position as a premier global wealth manager in the United States and invest in areas that will drive growth, according to the memo.
UBS anticipates receiving approval in 2026, subject to regulatory discretion. If granted, UBS would become the first Swiss bank to obtain a national bank charter in the US.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.