As of 2017, UBS is the 11th largest bank in Europe with a market capitalization of $64.5 billion.[14] It has over CHF3.2 trillion in assets under management (AUM), approximately CHF 2.8 trillion of which are invested assets.[15] In June 2017, its return on invested capital was 11.1%, followed by Goldman Sachs' 9.5%, and JPMorgan Chase's 9.2%.[16] In late 2016, UBS established a blockchain technology research lab in London to advance its cyber security and encryption of client activities.