Tennessee and Nashville officials announced Wednesday that UBS, a global financial services firm, will establish a shared services center in Nashville, adding 1,000 jobs. It’s a $36.5 million investment, officials said.
UBS currently provides operations support in Nashville through more than 200 employees and has a full-service wealth management office, a press release said. The new UBS Nashville Business Solutions Center will offer expanded business services in support of their wealth management and investment banking divisions.
The 1,000 new jobs are expected to created during 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,” Tennessee Gov. Bill 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, Tennessee Economic and Community Development Commissioner Bill Hagerty, Nashville Mayor Karl Dean, and UBS officials made the announcement Wednesday in Nashville.
“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,” 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.”
Kathleen Lynch, chief operating officer, UBS Group Americas and Wealth Management Americas, said the new UBS Nashville Business Solutions Center is part of the company’s global strategy to continuously improve its efficiency and effectiveness.
“Expanding our presence in Nashville is the right business decision for UBS,” Lynch said.