Abstract We built an extended 2HDM theory with a spontaneously broken U(1)X global symmetry, where the tree level Universal Seesaw Mechanism generates the mass hierarchy of the Standard Model charged fermions and the Zee-Babu mechanism produces tiny active neutrino masses. The third family of SM charged fermions gets tree level masses from Yukawa interactions involving the Higgs doublets H1 (for the top quark) and H2 (for the bottom quark and tau lepton). The model under consideration is consistent with SM fermion masses and mixings, with the muon and electron g − 2 anomalies and successfully accommodates the constraints arising from charged lepton flavor violation and meson oscillations. The proposed model predicts rates for charged lepton flavor violating decays within the reach of forthcoming experiments.