Important Events:
Switzerland and the World

Important Events:
Swiss Bank Corporation (SBC)
Union Bank of Switzerland (UBS)

The Swiss Code of Civil Law (Schweizerisches Zivilgesetzbuch - ZGB) enters into force.

China becomes a republic after having been an imperial monarchy for more than 2000 years

"Turicum" and "Pic Pic", two of Switzerland's leading car makers at the beginning of the 20th century disappeared after World War I.

London, Lothbury 43, 1902 - 1925

The London Office of the Bankverein opens the West End Branch.

SBC acquires the Banque d'Escompte et de Dépots, Lausanne, and thus establishes branches in Lausanne and Aigle.

The Bankverein shows the following figures for 1912: Total assets: 588 million CHF. Shareholders' Equity: 109 million CHF. Profit: 8.7 million CHF.

The Bank in Winterthur and the Toggenburger Bank merge to form the Schweizerische Bankgesellschaft. (Its French name is Union de Banques Suisses (UBS) and its Italian name is Unione di Banche Svizzere (UBS). The English name of the bank at first is Swiss Banking Association. In 1921 that somewhat inappropriate name is changed into Union Bank of Switzerland (UBS).

The merged bank shows the following figures for 1912:
Total assets: 202 million CHF. Shareholders' Equity: 46 million CHF. Profit: 2.4 million CHF.

	Dr. Rudolf Ernst

First Chairman of the Board of Directors of the merged bank from 1912 until 1941 is Rudolf Ernst, of Winterthur,

until 1921 alternating with

C. Emil Grob-Halter

Emil Grob-Halter, of Lichtensteig.

UBS acquires a 58% share in Aargauische Creditanstalt, Aarau, and establishes a branch in Rüti.

For business policy reasons of a commercial bank, UBS does not want to engage itself in mortgage lending. It uses a subsidiary instead, the Ersparnisanstalt Toggenburg EAT (Toggenburg Savings Bank) Lichtensteig, formerly belonging to the Toggenburger Bank.

The first World War breaks out. Switzerland maintains its armed neutrality.

Opening of the Panama Canal.