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.”


Convictions And Death Sentences For Man Convicted Of Multiple Murders Confirmed

The Tennessee Supreme Court has unanimously affirmed a jury’s verdict convicting Jessie Dotson of six counts of first degree murder and imposing a death sentence for each of the six convictions. The Court also affirmed Dotson’s convictions of three counts of attempted first degree murder and three consecutive 40-year sentences. The murders and assaults occurred in Memphis in ... (click for more)

TDEC Announces Public Hearing Dates For 2015-2025 Solid Waste And Materials Management Plan

The Tennessee Department of Environment and Conservation announced October public hearing dates in its process to develop the 2015-2025 Solid Waste and Materials Management Plan. Public participation activities for this planning process began in March with a series of four special focus meetings and continued in May with four public input meetings and one Web-based conference. ... (click for more)

Linear Park Planned As Extension Of Walnut Street Bridge In Front Of Planned Boutique Hotel

A linear park that will be an extension of the Walnut Street Bridge public space is planned in front of a new boutique hotel at Walnut Street and Aquarium Way (Second Street). Mitch Patel of Vision Hospitality on Tuesday night told nearby residents that "the city pushed this idea of a linear park, and we agree that it is a great idea." He said the current situation in which ... (click for more)

Sharply-Divided City Council Approves Office Reorganization; Councilman Freeman Calls Move "Evil, Hellish"

A sharply-divided City Council on Tuesday voted 5-4 to completely reorganize the council office, leaving current staffers without a job down the road but with the option to reapply. Councilman Moses Freeman called the move "evil" and "hellish." He said, "We are punishing somebody on a personal level," though he said the office has been running smoothly. Saying the majority ... (click for more)

How To Reform The City Industrial Development Board - And Response (3)

My aims is to bring to the public’s attention the need for procedural changes that, if implemented, would significantly improve the information available the public, to the City Council and to the City Industrial Development Board about the verifiable benefits and costs of tax incentive financing structures and to make the entire process transparent. The public, the City ... (click for more)

Roy Exum: My October Garden

Hark! It is the first day of October and, as I make my monthly stroll through the garden, I find a growing numbers of leaves and acorns. Autumn leaves are beautiful while acorns are nuts, thus you will get the idea as we make our monthly awards: A PRETTY LEAF to Phil Hughes after the Minnesota Twins pitcher came within one inning of earning a $500,000 bonus this season. The deal ... (click for more)