The official founding date of the bank is April 1862, the year when its nucleus Bank in Winterthur was founded.[70] Although the merged company's new name was originally supposed to be the "United Bank of Switzerland," the officials opted to call it simply UBS because of a name clash with the separate Swiss company United Bank Switzerland – a part of the United Bank Limited's Swiss subsidiary. Therefore, UBS is no longer an acronym but is the company's brand.