The Dutchman UBS Is Counting On to Disrupt Wealth Management

The headquarters of UBS Group AG sits on Zurich’s toniest shopping street, flanked by the likes of Chanel, Louis Vuitton, and Prada. The century-old stone colossus is fronted with pillars that evoke the Parthenon, the floors inside are marble, the walls are oak, and executives can use a special side entrance and elevator to whisk them to their offices. Everything about the place projects an image of quiet wealth, the gravity of serious people with serious money, and above all discretion in their efforts to preserve fortunes for generations.

The bank’s incoming boss in January inaugurated a new headquarters of his old employer, ING Groep NV, that’s almost entirely transparent—a metaphor for what that company insists is an open and informal culture. The building sits in a gritty corner of Amsterdam near shops such as H&M and Kentucky Fried Chicken, floor-to-ceiling windows offer views deep inside, and board members must climb a public staircase to reach their meeting room, which is visible to any visitor.