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UBS Completes US Acquisition

Stephen Harris

12 February 2007

UBS has completed the acquisition of the branch network of McDonald Investments, a unit of KeyCorp, a transaction that was announced last September. McDonald Investments branch offices will be renamed with immediate effect and integrated into UBS Wealth Management US throughout the Northeast, Midwest, Rocky Mountain and Northwest states. The network includes the offices of Gradison and Gradison Asset Management. According to the bank, 39 per cent of its employees now work in the Americas, with 37 per cent in Switzerland, 16 per cent in the rest of Europe and 8 per cent in Asia Pacific.