Case studies

Deloitte advises UBS on the establishment of UBS Europe SE

UBS announced on 1 December 2016 that it has combined most of its Wealth Management businesses in Europe into one legal entity, UBS Europe SE. Deloitte Switzerland was the principal advisor to UBS AG throughout the process of establishing its new pan-European Wealth Management entity. This new legal entity is headquartered in Frankfurt, Germany and combines the wealth management businesses in Germany, Italy, Luxembourg (which already includes the branches in Austria, Denmark and Sweden), the Netherlands and Spain.

Deloitte supported UBS in designing the operational model for the new entity, coordinating the transaction, managing regulatory engagement, and administering the overall programme. The creation of UBS Europe SE embodies an industry-pioneering, simultaneous cross-border merger of five legal entities into the new entity that will operate in European markets through a network of branches.

Andreas Przewloka, Chief Operating Officer UBS Europe SE, said: “The establishment of UBS Europe SE is at the core of our European Wealth Management strategy and lays the foundation for further growth. As our trusted advisor on strategy, regulatory, and transaction related themes and reliable execution partner, Deloitte contributed significantly to the successful launch of UBS Europe SE.”

Patrik Spiller, project lead Partner and head of Monitor Deloitte strategy practice in Switzerland, said: “We are very proud to have supported UBS in taking an important step towards streamlining its legal and governance structure and increasing operational and capital efficiency across its European businesses.”

Anna Celner, Global Banking & Securities sector leader at Deloitte, commented: “This is a prime example of where Deloitte is delivering superior value to its strategic clients by combining a broad range of expertise to achieve industry leading change.”

The Deloitte team comprised strategy consulting, financial advisory, and regulatory specialists in Switzerland and across the firm’s global organisation, and was led by Anna Celner, Patrik Spiller and Jan-Dominik Remmen in Zurich.

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