Important Events:
Switzerland and the World

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

The treaty on the European Free Trade Association (EFTA) enters into force. Switzerland is a founding member of EFTA.

The USA and Canada join the OEEC. At the same time the OEEC is transformed into the OECD (Organization for Economic Cooperation and Development).

SBC opens a Representative Office in Lima, Peru.

SBC establishes a branch office in Berne.

UBS acquires 65% of Bank Cantrade AG, Zurich, specializing in Private Banking.

UBS acquires the Volksbank in Visp and thus establishes a branch in Visp.

UBS acquires 80% of Argor SA, Chiasso, a precious metals refinery founded in 1951 in the canton of Ticino.

The communist German Democratic Republic
(GDR) begins on August 13th 1961, with the construction of the Berlin Wall around the Western part of the city.

The Soviet cosmonaut Juri Gagarin is the first human in space. He circles the earth in 108 minutes.

SBC takes over the Banque Populaire Valaisanne, Sion, and the Banque Populaire de Sierre.

UBS sets up a branch in Biel/Bienne.

The conflict of the Sovietunion with the United States over Soviet missiles in Cuba comes to an end. The Soviets withdraw the missiles.

Samuel Schweizer

Samuel Schweizer succeeds Rudolf Speich as Chairman of SBC.

UBS celebrates its 100th anniversary and establishes the Jubilee Foundation for cultural purposes.

UBS acquires most of the share capital of Banca Popolare di Lugano BPL.

UBS acquires the Bündner Privatbank, Chur, and thus establishes branches in Arosa, Chur, Davos, Klosters and St. Moritz.

UBS acquires the Banque du Pasquier Montmollin and thus establishes a branch in Neuchâtel.

UBS sets up branches in Kreuzlingen, Wetzikon and Zermatt.

Introduction of the uninterrupted workday (the so-called "English working hours"). Lunch can be eaten at preferential prices at the Culinarium AG, a wholly-owned catering subsidiary of UBS, which was established in 1961. Three quarters of an hour is the allowed lunch break.

At the end of that year UBS is - for the first time - the largest bank in Switzerland. Its assets amount to 6,96 billion CHF. SBC is number 2 (assets of 6,88 billion CHF), and Credit Suisse is number 3 (assets of 6,80 billion CHF.