Important Events:
Switzerland and the World

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

Inauguration of the Eurotunnel between France and England.

The Uruguay Round of the GATT (General Agreement on Tariffs and Trade) successfully reaches its end. A new world trade order is established. GATT is being transformed into the World Trade Organization - WTO.

Nelson Mandela is elected President of the Republic of South Africa.

Austria, Finland and Sweden become new members of the European Union.

Solothurn is the first Swiss canton to loose its Cantonal Bank (a state-owned and state-guaranteed bank) due to mismanagement. SBC takes it over and runs it as a subsidiary.

Also in Switzerland the Shareholder Value concept gains a foothold.

Within SBC a new organizational structure enters into force consisting of three major organizational units: a Corporate Center, a Domestic Division and an International & Financial Division (IFD), the successor to the IFG established in 1991. Furthermore, a Group Executive Board and an Enlarged GEB are created.

SBC acquires and integrates the Seeland Bank, Biel/Bienne, the Bank Langenthal, Langenthal, the Neue Emme Bank, Burgdorf, and the Crédit agricole et industriel de la Broye, Estavayer-le-Lac.

SBC also acquires the former Cantonal Bank of Solothurn, founded in 1886, renames it into Solothurner Bank (SoBa) and runs it as a subsidiary as of January 1995.

SBC, within the project "proFIL", introduces a new distribution concept for its domestic branch network.

Anne-Lise Monnier-Blailé, Gland, and Maria Reinshagen, Zurich, are the first women on UBS' Board of Directors.

The UBS subsidiary Bank Aufina, Brugg, takes over the consumer loan business of Bank Rohner, St. Gall, a UBS subsidiary since 1984. Bank Rohner ceases to exist.

UBS establishes a Compliance Organization within the group and appoints a Group Compliance Officer.

UBS acquires and integrates the Solothurner Handelsbank, the Ersparniskasse Wangen, the Regiobank beider Basel, the EKN Bank in Nidwalden, and the Amtsersparniskasse Obersimmental.

SBC establishes SBC Capital Markets, New York, and integrates O'Connor & Associates, Chicago.

US regulators approve SBC's acquisition of Brinson Partners Inc., Chicago, an Institutional Asset Management firm founded in 1980.

SBC acquires S.G. Warburg Plc., London, a leading European Investment Bank founded in 1934, and renames it into "SBC Warburg - A Division of Swiss Bank Corporation".

SBC now owns 99% of SBSI Holding AG, the parent company of Banca della Svizzera Italiana (BSI).

SBC replaces the profit sharing plan for employees existing since 1973 by a Share Participation Plan (MAP - Mitarbeiter- Aktienbeteiligungsplan).

UBS opens Branches in Madrid and in Labuan, Malaysia, and Representative Offices in Prague and Santiago de Chile.

UBS acquires a 25% holding in Rentenanstalt/ Swiss Life, Zurich, Switzerland's largest life insurance company. In a counter-move, Rentenanstalt will participate with a stake of 50% in UBS' subsidiary "UBS Life", which will thus become a joint venture company as of January 1996.