UBS Adds 1,000 Jobs With Nashville Business Solutions Center - NewsChannel5.com | Nashville News, Weather & Sports

UBS Adds 1,000 Jobs With Nashville Business Solutions Center

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NASHVILLE, Tenn. – Global banking firm UBS announced Wednesday morning that it will expand its Nashville operations by opening a business solutions center, adding 1,000 jobs over the next five years.

Governor Bill Haslam along with company officials announced the $36.5 million investment at a press conference at the State Capitol. 

"It is exciting that UBS-- one of the largest banking and financial services companies-- is making this significant investment in Tennessee," Governor Haslam said. "We are grateful for the high quality Tennessee jobs the company is creating. Companies can choose to do business anywhere in the world, and it says a lot for Tennessee and Nashville that UBS wants to be here."

Haslam and Mayor Karl Dean lauded the decision to choose Nashville for the center. Both state and local incentives played a role in landing the investment, but both said final details are still being worked out.

Kathleen Lynch, the chief operating officer of UBS Group Americas and Wealth Management Americas, said the bank is still evaluating its options on where the new nerve center will be located. She said the new facility will consolidate functions performed elsewhere.

Lynch said UBS currently employs approximately 300 people at two locations in Nashville. The new business solutions center will offer expanded business services in support of the company's wealth management and investment banking divisions.

She declined to say what the new jobs will pay, but Mayor Dean said salaries will be above the city's average.

Lynch said the some of the jobs will be filled by current employees in other UBS locations, whose positions will be shifted to the new nerve center.

UBS is a global firm providing financial services to private, corporate and institutional clients. It is headquartered in Switzerland, with offices in more than 50 countries and approximately 62,000 employees.

(The Associated Press Contributed To This Report.)

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