Important Events:
Switzerland and the World

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

Michail Gorbatchow, as leader of the Communist Party of the Soviet Union, proposes reforms (Glasnost and Perestroika).

Michail Gorbatchev

Michail Gorbatchev, Secretary General of the Communist Party of the USSR (1985-91) and President of USSR (1990-91).

In Gdansk, Poland, strikers in the Lenin Ship-Yard demand the readmission of the forbidden workers union "Solidarnosc".

The Swiss Options and Financial Futures Exchange (SOFFEX), worldwide the first electronic futures exchange, becomes operational.

In Switzerland's Penal Code the new paragraph on insider trading enters into force.

SBC acquires a majority holding in Banque Stern, Paris, and a substantial holding in the brokerage house Ducatel-Duval, Paris.

SBC also acquires the Spar- & Leihkasse Schaffhausen, Schaffhausen. (The final integration takes place in 1996.)

As the first major bank in Switzerland, SBC trades Financial Futures for its clients.

Completion of SBC's headquarters building at Aeschenplatz in Basle. In front of it is the statue of the "Hammering Man" by American artist Jonathan Borofsky.

Nikolaus Senn

Nikolaus Senn succeeds Robert Holzach as Chairman of UBS.

	Robert Studer

Robert Studer is appointed President of General Management (as of July 1991: President of the Group Executive Board).

UBS establishes a Representative Office in Taipei, Taiwan

UBS introduces a profit-linked Bonus System for the members of management.

The Round table talks in Poland mark the beginning of the end of communist rule in Central and Eastern Europe.

Fall of the Berlin Wall.

In Switzerland the continuous increase in real estate prices and the peak in the connected real estate speculation is broken by three Urgent Federal Ordinances.

The SBC organization in London moves to the Swiss Bank House at High Timber Street.

Swiss Bank Corporation (Jersey) Ltd., St. Helier, the former Commercial Bank (Jersey) Ltd., which was acquired at the end of 1988, takes up trust operations.

Inauguration of the SBC Management Training Center "Seepark" in Thun.

SBC announces a strategic partnership with the US derivatives house O'Connor & Associates, Chicago. O'Connor was founded in 1977.

UBS introduces its "UBS Strategy for the 1990's".

UBS establishes the UBS Asset Management (UK) Ltd., London.

UBS acquires the remaining 25 percent of Banco di Roma per la Svizzera, Lugano, and renames it into BDL Banco di Lugano. In future, this bank will concentrate on Private Banking.

In July UBS acquires 65% of PBZ Privatbank Zurich. At the end of that year UBS owns 100%.