The bank saw its assets fall from a peak of CHF 1. Therefore, UBS is no longer an acronym but is the company's brand. In the United States: The activities of the Union Bank of Switzerland during World War II were not publicly known until decades after the war, when it was demonstrated that UBS likely took active roles in trading stolen gold, securities , and other assets during World War II. UBS opened branches and acquired a series of banks in Switzerland in the following years, growing from 31 offices in to 81 offices by the early s. SBC remained among the Swiss government's leading underwriters of debt in the post-war years. Its logo of three keys, carried over from SBC, stands for the company's values of confidence, security, and discretion. Gallen, Switzerland , offices of Swiss Bank Corporation c. A UBS-issued gold bar, melted down from "unclaimed assets" deposited in the bank. At the time of the merger, Union Bank of Switzerland and Swiss Bank Corporation were the second and third largest banks in Switzerland, respectively. During the mids, Union Bank of Switzerland came under fire from dissident shareholders critical of its conservative management and lower return on equity. According to The Times , UBS has edged out Goldman Sachs to advise Sir David and Sir Frederick Barclay , the twin brothers who own Shop Direct , a former catalogue retail business which has been enjoying stellar sales and growth since becoming a "pure play" online retailer.
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