UBS To Establish Shared Services Center In Nashville

Global Financial Services Firm to Invest $36.5 Million, Create 1,000 New Job

Wednesday, August 28, 2013

Tennessee Governor Bill Haslam, Economic and Community Development Commissioner Bill Hagerty, Nashville Mayor Karl Dean along with UBS officials announced Wednesday the company will establish a shared services center in Nashville. The announcement, representing a $36.5 million investment by the company, will create 1,000 new jobs over the next five years.

“It is exciting that UBS – one of the world’s 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.”

“Tennessee’s No. 1 ranking for job growth in the Southeast is only further enhanced by the added momentum of today’s 1,000 job announcement,” Commissioner Hagerty said. “Our internationally competitive state provides global companies like UBS with an ideal location, a skilled workforce and attractive business climate which, in turn, allows companies to offer high-wage employment opportunities to Tennesseans. I appreciate UBS’ further investment in our state’s robust business services sector and congratulate the company on its latest success.”

UBS currently provides operations support in Nashville through over 200 employees in addition to its full service Wealth Management office. The new UBS Nashville Business Solutions Center will offer expanded business services in support of their wealth management and investment banking divisions. 

“Expanding our presence in Nashville is the right business decision for UBS,” Kathleen Lynch, chief operating officer, UBS Group Americas and Wealth Management Americas, said. “The new UBS Nashville Business Solutions Center is part of our global strategy to continuously improve our efficiency and effectiveness for the benefit of our clients and shareholders.”

“The decision by UBS to bring 1,000 quality jobs to Nashville speaks to the skilled workforce in our area and the high quality of life here,” Mayor Dean said. “I welcome UBS’ Shared Services Center to Nashville and am proud that our city is increasingly being recognized as the premier location for global companies to centralize their operations.” 

“A $36.5 million investment and the creation of 1,000 new jobs is outstanding news for Tennessee,” U.S. Senator Bob Corker, said. “I want to thank UBS and its employees for their commitment to the Nashville area and congratulate them on their latest success.” Senator Corker, a member of the Senate Banking Committee, added, “Governor Haslam and his economic development team continue to attract high quality jobs to Tennessee, and I could not be more proud to join them in welcoming UBS to Nashville.”

“We are excited that UBS has chosen to expand in the Nashville region,” Nashville Area Chamber of Commerce President and CEO Ralph Schulz said. “As a financial services industry leader, UBS is creating high-quality jobs as well as making a significant investment in our region. Our team looks forward to continuing to support the company’s workforce needs as it grows.” 

“Congratulations to UBS on their continuing growth and announcement to expand in Nashville,” TVA Senior Vice President of Economic Development John Bradley said. “TVA is privileged to be an economic development partner with the State of Tennessee, Metro Government of Nashville & Davidson County, Nashville Area Chamber of Commerce, and the Nashville Downtown Partnership to assist new investments and job creation by global companies like UBS.”


Unum Appoints David Hill As New AVP Of Aviation

David Hill has joined Unum as assistant vice president of aviation, where he will oversee the company’s corporate aviation team of 13 that is based in Chattanooga. Mr. Hill joins Unum following an 18 year career with Duke Energy in Charlotte, N.C., where he led a fleet of 10 and a team of 42. A veteran, Mr. Hill dedicated 27 years to the U.S. National Guard, and 10 years ... (click for more)

Clint Powell: I Can Do That Myself!

Asking tough questions is sometimes…well…tough! That just makes sense right? However, knowing that tough questions are tough to ask…doesn’t mean they are still not…well...tough! Shoot…I did it again. Captain Obvious on the job. Well, what kind of tough questions are we talking about? There are quite a few I could spend time on. ‘How old are you?’ – ‘How much do you weigh?’ – ‘Is ... (click for more)

Harr Outlines $40 Million Plan For Chattanooga Light Rail System

Outgoing Chamber of Commerce President Ron Harr on Monday outlined a $40 million plan for a Chattanooga light rail system that would serve not only downtown, but also the Airport and the Enterprise South Industrial Park. In a speech to the Chattanooga Engineers Club, Mr. Harr said most cities looking at such an ambitious plan "would be facing costs of over a billion dollars." ... (click for more)

Chattanooga Choo Choo Adding Clubs, Restaurants In $8 Million Renovation

The historic Chattanooga Choo Choo is adding clubs and restaurants in a $7 million renovation, it was announced in front of the South Market Street landmark on Monday morning. The Comedy Catch will be moving from its longtime home in Brainerd and there will be a new 500-person music venue that will be in addition to Track 29. The new venue, managed by Track 29, will feature a ... (click for more)

Senator Bob Corker: An Open Letter To Tennesseans

We are incredibly fortunate to live in a state in which companies worldwide are clamoring to establish a presence. Many attribute it to our pro-business culture, well-prepared workforce, low tax environment, right-to-work policies, and engaged citizenry.  That is why the announcement by Volkswagen to build its midsize sports utility vehicle and establish the South’s ... (click for more)

Roy Exum: Wamp Refuses To Stoop

With less than two weeks before the Aug. 7 th election and the last week of early voting now underway in Hamilton County, Congressional challenger Weston Wamp sounded upbeat and relaxed early yesterday afternoon. “I’m pleased to say that I believe we are right where we need to be … maybe even more than we had hoped.” Wamp, who is challenging two-term incumbent Chuck Fleishmann ... (click for more)