Important Events:
Switzerland and the World

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

The Federal Republic of Germany (FRG) joins NATO.

SBC opens a Representative Office in Paris.

UBS sets up a branch in Solothurn.

The Hungarian uprising against the communist
regime is crushed by Soviet tanks.

Suez crisis: With Anglo-French support Israeli troops occupy the Suez Canal Zone, after Egypt had nationalized the canal. American and massive Soviet pressure stops the action.

UBS acquires the Banque Tissières fils & Cie., Martigny, and the Banque de Sion (de Kalbermatten & Cie), Sion, and thus establishes branches in Martigny and Sion.

The treaties of Rome on the European Economic Community (EEC) and the European Atomic Community Euratom are signed. They enter into force as of January 1958.

The Sovietunion launches the first man-made satellite (Sputnik).

Karl Türler

Karl Türler is appointed Chief General Manager of SBC.

UBS acquires the Banque de Brigue, the Crédit Gruyérien and the Crédit Sierrois, and thus establishes branches in Brigue, Bulle and Sierre.

UBS sets up a branch in Bellinzona.

Switzerland joins the General Agreement on Tariffs and Trade (GATT).

SBC opens a Representative Office in Buenos Aires.

In Strasbourg the European Court for Human Rights is established.

SBC opens a Representative Office in São Paulo.

UBS establishes a branch in Monthey.