TOM RATZLOFF The four-month renovation project is complete and the UBS Center is a new presence along River Landing and Island Park drives.

What is UBS?

The new signs outside the former Daniel Island Medical building have prompted some local curiosity in recent days.

Hint: think chocolate and alpenhorns.

UBS stands for United Bank of Switzerland and it is the world’s largest private money manager for individuals and corporations, according to Jeff Burton, manager of the new Daniel Island branch office.

UBS became a major player in U.S. wealth management after it purchased the operations of PaineWebber and the former J.C. Bradford & Co in 2000.

"For well over 40 years PaineWebber and J.C. Bradford had a huge presence in the Charleston area," Burton said. "We see our activities here as a continuation of that heritage."

UBS decided to move its Mt. Pleasant office to Daniel Island in an effort to be better positioned for the projected development near the I-526 corridor, said Burton, who also manages the downtown Charleston UBS office on Meeting Street as well as offices in Hilton Head and Savannah.

TOM RATZLOFF tom@thedanielislandnews.com What is UBS? The new signs outside the former Daniel Island Medical building have prompted some local curiosity in recent days. Hint: think chocolate and alpenhorns. UBS stands for United Bank of Switzerland and it is the world’s largest private money manager for individuals and corporations, according to Jeff Burton, manager of the new Daniel Island branch office. UBS became a major player in U.S. wealth management after it purchased the operations of PaineWebber and the former J.C. Bradford & Co in 2000. “For well over 40 years PaineWebber and J.C. Bradford had a huge presence in the Charleston area,” Burton said. “We see our activities here as a continuation of that heritage.” UBS decided to move its Mt. Pleasant office to Daniel Island in an effort to be better positioned for the projected development near the I-526 corridor, said Burton, who also manages the downtown Charleston UBS office on Meeting Street as well as offices in Hilton Head and Savannah. His company recently completed a four-month renovation project that gutted the second-floor former medical center space and transformed it into a contemporary state-of-the-art financial services center. For example, each office has video surveillance and key-card access. In addition, UBS will soon introduce video conferencing so that clients and brokers can communicate worldwide. “My perspective is that Florida is full and that the real beneficiaries of migration and growth are the Savannah and Hilton Head areas on up to Norfolk, Virg.,” said Burton, who noted that new location will help them better serve former J.C. Bradford clients from North Charleston and Summerville. “We stand to benefit a tremendous amount with 150,000 to 250,000 homes contracted to be built just outside of 526. We need to be in a position to serve that community.” Broker Stephen Carroll, UBS vice president of investments, and his assistant Maria Martino welcome the relocation. “Anytime you have an opportunity to be early to something that we think is going to huge and get the quality of the real estate we got, it’s a huge plus,” Carroll said, noting that he’s very happy with how visible the building’s signs are along Island Park and River Landing drives. “I’m really pleased with how it looks inside, too.” Carroll said he and Martino specialize in personalized service to wealthy clients. “We spend a lot of time setting the objectives of new clients,” he said. “Then we set very definite and finite points of how to accomplish their objectives. After that, the client sets the level of service they would like. I used to meet with all of my clients quarterly or every four months. But every client is not the same. Some don’t want to see you that often; others want to see you even more frequently.” Carroll said he loves his job because it’s one of the few professions where you can “grow someone’s money if you do it right.” It’s also a tremendous responsibility, he said. “Each client has unique risk parameters and our job is to find out what those swings are,” Carroll said. “We spend a lot of time with a prospect up front. Some firms use a questionnaire; we don’t. We develop a worst-case scenario and work it from there. You should never let the market judge the risk; it’s only a tool and it can be an effective tool if you give it the time it needs. But I want the objectives of the client to determine the risk.” The gigantic Swiss bank’s investment arm has been in the headlines recently for sustaining losses related to the home-mortgage crisis. Consequently the local UBS wealth management offices have received calls from concerned clients. “It’s difficult because when a client sees ‘UBS’ in the paper, it alarms them,” Carroll said. “But then we assure them that their assets are safe and it becomes an opportunity to strengthen the core of that relationship. Anybody can be happy during good times. But taking the time to reassure and explain things lets the client know that you’re on top of it.” Burton, who lives on Daniel Island with his wife, Karen, and three children, said there are currently 30 UBS employees working in the new center. He said that UBS will be active in community and school projects as well as membership in the Daniel Island Business Association and The Rotary Club of Daniel Island. “We’re hoping that Daniel Island welcomes the global leader in wealth management,” Burton said. “I think we’re well-positioned for the next 10 years of growth.”

His company recently completed a four-month renovation project that gutted the second-floor former medical center space and transformed it into a contemporary state-of-the-art financial services center. For example, each office has video surveillance and key-card access. In addition, UBS will soon introduce video conferencing so that clients and brokers can communicate worldwide.

"My perspective is that Florida is full and that the real beneficiaries of migration and growth are the Savannah and Hilton Head areas on up to Norfolk, Virg.," said Burton, who noted that new location will help them better serve former J.C. Bradford clients from North Charleston and Summerville. "We stand to benefit a tremendous amount with 150,000 to 250,000 homes contracted to be built just outside of 526. We need to be in a position to serve that community."

Broker Stephen Carroll, UBS vice president of investments, and his assistant Maria Martino welcome the relocation.

"Anytime you have an opportunity to be early to something that we think is going to huge and get the quality of the real estate we got, it’s a huge plus," Carroll said, noting that he’s very happy with how visible the building’s signs are along Island Park and River Landing drives. "I’m really pleased with how it looks inside, too."

Carroll said he and Martino specialize in personalized service to wealthy clients.

TOM RATZLOFF Daniel Island resident Jeff Burton manages the new UBS Center, which is located in the former Daniel Island Medical building.

"We spend a lot of time setting the objectives of new clients," he said. "Then we set very definite and finite points of how to accomplish their objectives. After that, the client sets the level of service they would like. I used to meet with all of my clients quarterly or every four months. But every client is not the same. Some don’t want to see you that often; others want to see you even more frequently."

Carroll said he loves his job because it’s one of the few professions where you can "grow someone’s money if you do it right."

It’s also a tremendous responsibility, he said.

"Each client has unique risk parameters and our job is to find out what those swings are," Carroll said. "We spend a lot of time with a prospect up front. Some firms use a questionnaire; we don’t. We develop a worst-case scenario and work it from there. You should never let the market judge the risk; it’s only a tool and it can be an effective tool if you give it the time it needs. But I want the objectives of the client to determine the risk."

The gigantic Swiss bank’s investment arm has been in the headlines recently for sustaining losses related to the home-mortgage crisis. Consequently the local UBS wealth management offices have received calls from concerned clients.

"It’s difficult because when a client sees ‘UBS’ in the paper, it alarms them," Carroll said. "But then we assure them that their assets are safe and it becomes an opportunity to strengthen the core of that relationship. Anybody can be happy during good times. But taking the time to reassure and explain things lets the client know that you’re on top of it."

Burton, who lives on Daniel Island with his wife, Karen, and three children, said there are currently 30 UBS employees working in the new center. He said that UBS will be active in community and school projects as well as membership in the Daniel Island Business Association and The Rotary Club of Daniel Island.

"We’re hoping that Daniel Island welcomes the global leader in wealth management," Burton said. "I think we’re well-positioned for the next 10 years of growth."