Important Events:
Switzerland and the World

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

Splitting of the gold market into an official and a free market.

The major Swiss banks UBS, SBC and Credit Suisse create the Zurich Gold Pool.

In the US Martin Luther King is murdered.

In the CSSR Soviet tanks crush the democratic movement "Spring in Prague"

SBC sets up the Swiss Bank Corporation (Overseas) Ltd., Nassau, Bahamas, with a branch office in Panama.

SBC acquires step by step the majority of the share capital of the bank Frei, Treig & Cie. AG, Zurich, which specializes in consumer loans.

Total Assets of SBC amount to 16,9 billion CHF (CS 15,6 billion CHF).

Within UBS a new organizational structure enters in to force. The bank is organized along four divisions: a Commercial Division, a Financial Division, a Foreign Division, and an Administrative Division. This structures remains basically unchanged until June 1991.

UBS decides to offer in future also savings accounts (with a legal bankruptcy privilege) instead of the mere depository accounts. Therefore, it integrates its mortgage subsidiaries HYSPA (Aarau Mortgage and Savings Bank, founded in 1919), EAT (Toggenburg Savings Bank, founded in 1913) and CHSR (Caisse Hypothécaire pour la Suisse Romande, founded in 1950) and handles henceforth all mortgage business under its own name.

UBS acquires Aufina AG, Brugg, an institution specializing in consumer loans, especially automobile financing.

UBS establishes Representative Offices in Mexico D.F., Rio de Janeiro, and São Paulo.

At the end of this year UBS is again the largest bank in Switzerland with assets of 18,5 billion CHF.

The US astronauts Neil Armstrong and Edwin Aldrin as the first humans land on the moon. On July 20th, Armstrong is the first to step on the moon.

SBC opens a Representative Office in Sydney, Australia.

UBS establishes a Share Participation Plan for the members of the bank's management.

UBS opens Representative Offices in Buenos Aires, Hong Kong, Sydney, and Melbourne.

UBS acquires and integrates the Rheintalische Creditanstalt, Altstätten.