The Bank in Winterthur is one of the original predecessor banks to the

Union Bank of Switzerland Union Bank of Switzerland (UBS) was a Swiss Investment banking, investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in ...

and ultimately

UBS UBS Group AG (stylized simply as UBS) is a multinational investment bank and financial services firm founded and based in Switzerland, with headquarters in both Zurich and Basel. It holds a strong foothold in all major financial centres as the ...

. Established in 1862, the bank merged with

Toggenburger Bank Toggenburger Bank is one of the original predecessor banks to the Union Bank of Switzerland and ultimately UBS. Established in 1863, the bank merged with the Bank in Winterthur in 1912 to form the Union Bank of Switzerland. History In 1863, the ...

in 1912 to form the

History

The Bank in Winterthur was founded in 1862 in

Winterthur, Switzerland Winterthur (; ) is a city in the canton of Zurich in northern Switzerland. With over 120,000 residents, it is the country's List of cities in Switzerland, sixth-largest city by population, as well as its ninth-largest agglomeration with about 14 ...

with an initial share capital of 5 million CHF.UBS History
Company website
Funding Universe, Retrieved August 10, 2010 The bank, which was established by a group of local businessmen, operated primarily as a commercial bank, providing financing for a range of companies and projects. The bank would be involved in funding the

Swiss Locomotive and Machine Works Swiss Locomotive and Machine Works (German Schweizerische Lokomotiv- und Maschinenfabrik; French Société Suisse pour la Construction de Locomotives et de Machines; or for both, SLM) was a railway equipment manufacturer based in Winterthur in Swi ...

, the Hotel

Baur au Lac Baur au Lac is a luxury hotel at Talstrasse, Zurich, Switzerland. The hotel was founded in 1844 by Johannes Baur, and is still owned by the Baur family. It was completely renovated between 2008 and 2010. It is a member of the Leading Hotels of ...

in Zurich and many other companies. The bank capitalized on its location at an important Swiss railroad junction and its large warehousing facilities allowed the bank to take advantage of the dramatic rise in cotton prices caused by the

American Civil War The American Civil War (April 12, 1861May 26, 1865; also known by Names of the American Civil War, other names) was a civil war in the United States between the Union (American Civil War), Union ("the North") and the Confederate States of A ...

. The Bank in Winterthur saw its share capital double by the end of the war.Swiss banking: an analytical history
Palgrave Macmillan, 1998 (p. 132-136) In the mid-1880s, The Bank in Winterthur experienced financial difficulties. The bank's involvement in the financing of the ill-fated private Schweizerische Nationalbahn (

Swiss National Railway The Swiss National Railway (German: ''Schweizerische Nationalbahn'', SNB) was a railway company in Switzerland. The Swiss National Railway was created in 1875 from the merger of the two companies, the ''Winterthur–Zofingen Railway'' and the ''Zo ...

) resulted in the loss of one-fifth of the bank's capital reserves in 1887. The

was formed in 1912 when the Bank in Winterthur merged with the Toggenburger Bank. The combined bank had total assets of 202 million CHF and a total shareholders' equity of 46 million CHF. This combination was part of a larger trend toward concentration in the banking sector in Switzerland at the time. Through the next few years, the bank would begin to shift its operations to Zurich from its historical headquarters in the cities of

Winterthur Winterthur (; ) is a city in the canton of Zurich in northern Switzerland. With over 120,000 residents, it is the country's List of cities in Switzerland, sixth-largest city by population, as well as its ninth-largest agglomeration with about 14 ...

and St. Gallen, Switzerland. In 1917, UBS completed construction of a new headquarters in Zurich on

Bahnhofstrasse Bahnhofstrasse (, ), in the Swiss city of Zurich, is the city's main downtown street and one of the world's most expensive and exclusive shopping avenues. In 2011, a study named Bahnhofstrasse the most expensive street for retail property in Eur ...

, considered to be the

Wall Street Wall Street is a street in the Financial District, Manhattan, Financial District of Lower Manhattan in New York City. It runs eight city blocks between Broadway (Manhattan), Broadway in the west and South Street (Manhattan), South Str ...

of Switzerland. The new bank used different names in its three core languages: German, French and English. In German, the bank was Schweizerische Bankgesellschaft and was known by the initials SBG. The original English name for the combined bank was the Swiss Banking Association, but it was later changed to Union Bank of Switzerland in 1921 to mirror the French form of the name: Union de Banques Suisses. The bank's logo, introduced in 1966, would later reflect both the German SBG and the English and French name UBS.

References

{{Authority control UBS Banks established in 1862 Banks disestablished in 1912 Defunct banks of Switzerland Companies based in Winterthur Swiss companies established in 1862 1912 disestablishments in Switzerland