Swiss Bank Corporation (SBC) was a large integrated financial company located in Switzerland. Prior to its merger, the bank was the third largest in Switzerland with over 300 billion CHF of assets and 11.7 billion CHF of equity.
In 1998 SBC merged with Union Bank of Switzerland to form UBS, the largest bank in Europe and the second largest bank in the world. Today, what was SBC forms the core of many of UBS’s businesses, particularly UBS Investment Bank.
Swiss Bank Corporation traces its history to 1854. In that year, six private banking firms in Basel, Switzerland, pooled their resources to form Bankverein, a consortium that acted as an underwriting syndicate for its member banks. The name was later changed to Schweizerischer Bankverein, with the English name of the bank changed to Swiss Bank Corporation in 1917. SBC grew steadily and prospered in the following years until its merger with Union Bank of Switzerland in 1998.