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.”


GDOL To Help Roper Recruit Manufacturing Workers Friday In Summerville

Roper Corporation, a division of GE, will recruit about 80 manufacturing workers for its LaFayette facility Friday. The recruitment will be held from 10 a.m.-2 p.m. at the Chattooga County Civic Center, 44 Highway 48 in Summerville.  The company, which manufactures kitchen stoves and microwaves, will be hiring production and assembly-line workers. Salaries begin at $12.30 ... (click for more)

Multiple Trial Errors In Memphis Case Result In New Trial For Defendant

The Tennessee Supreme Court has granted a new trial in a Memphis case in which a man was convicted of rape of a child. In 2012, Frederick Herron was sentenced to 25 years in prison for the rape of his ex-wife’s younger sister. The victim, who said she was between the ages of eight and 12 when the rapes occurred, lived with her sister and the defendant at the time they were ... (click for more)

Man Charged In Shooting On Sixth Avenue Had Been Shot Himself Last Week

A man charged with attempted first-degree murder on Sixth Avenue on Thursday afternoon was shot himself earlier this month. Oshae Kadaris Smith, 20, of 2114 E. 12th St., is also charged with reckless endangerment, aggravated assault and possessing a firearm during the commission of a crime. He was one of two people shot on Rawlings Street on March 16. Kendre Allen, 18, ... (click for more)

Fire On Crutchfield Street Ruled Arson

Chattanooga fire investigators have determined that last Thursday’s fire at 1207 Crutchfield St.  that nearly killed four people was deliberately set. Lt. Henry McElvain with the Fire Investigation Division said he cannot divulge the reason why he thinks it’s arson, but he is asking for help from the public. If anyone has information that can help solve this case, call ... (click for more)

The Problems With Prescription Drug Addiction

In Tennessee today, we have a major problem with prescription drug addiction, particularly when powerful opioid pain relievers are concerned.    For the first time in 2012, Tennesseans abused prescription opioid drugs more than alcohol.  Our young people ages 18-25 abuse prescription opioids at a 30 percent higher rate than the national average.  In just five ... (click for more)

Roy Exum: The Hillman Of Bihar

In the year of our Lord, 1927, there was a very poor child born to a very poor family in a very poor place. His name was Dasrath Manjhi and he was a native of the Musahar community somewhere in India. We know he had no education and, as a member of the lowest Hindu scheduled castes, he didn’t have a cut dog’s chance from the very get go. But after spending considerable time in ... (click for more)