Important Events:
Switzerland and the World

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

In Paris the German-French Friendship Treaty is signed.

Switzerland joins the Council of Europe.

The New York Agency of SBC is transformed into a Branch Office.

SBC opens a Branch Office in Lucerne.

SBC opens a Representative Office in Mexico D.F.

In Switzerland restrictions on bank lending enter into force combined with negative interest rates on the growth of foreign bank deposits in Swiss Francs with domestic banks.

Two members of the SBC General Management move their activities to Zurich, but the legal domicile of the bank and the majority of General Management remain in Basle.

SBC opens a Representative Office in Hong Kong.

Dr. Alfred Schaefer

Alfred Schaefer succeeds Fritz Richner as Chairman of UBS. No one is appointed as the new Chief General Manager.

UBS sets up branches in Arbon, Brissago, Nyon, Regensdorf and Saas Fee.

UBS sets up a Representative Office in Beirut.

The United States enter into the War in Vietnam.

SBC opens an operating unit in San Francisco, California.

SBC acquires the Schweizerische Spar- und Kreditbank, St. Gall, which was close to bankruptcy.

SBC establishes a branch office in Fribourg.

At the end of this year Total Assets of SBC for the first time exceed 10 billion CHF.

Establishment of UBS' Berufsschule Zürich, since 1971 Bank- und Kaderschule (Bank and Management School), for the inhouse training of staff and middle management.

UBS sets up branches in Horgen, Rüschlikon and Lausanne-Gare.

UBS acquires the Banque Bugnon & Cie., Lausanne, and thus establishes a branch in Lausanne-Grand Chêne.

Total Assets of UBS amount to 9,6 billion CHF.