Switzerland’s UBS has applied for a banking license in the US, signalling its ambition to expand its wealth management services, reported Reuters. According to an internal memo obtained by the news agency, UBS Americas president Rob Karofsky and UBS Global Wealth Management US head Michael Camacho said that the bank has submitted its application for a National Bank Charter for UBS Bank USA. The acquisition of this licence would enable UBS to offer a suite of services on par with other banks in the US, in ...