Important Events:
Global

Important Events:
UBS AG

Bird flu virus

In January, the bird flu virus takes its first lives outside of Eastern Asia, in Turkey. In February the virus is also found for the first time in Africa on a Nigerian chicken farm.

In Canada's parliamentary election on 23 January, the Conservative Party returns to power after 13 years of Liberal Party rule.

The radical Islamic party Hamas wins the Palestinian parliamentary election.

On a pilgrimage to holy sites in Saudi Arabia, at least 345 people are crushed to death and around 1,000 people are injured.

Chile elects its first female president, Michelle Bachelet.

February sees a wave of protests and violent actions in various countries on account of 12 cartoon drawings originally published in a Danish newspaper in September 2005.

An Egyptian ferry sinks in the Red Sea resulting in the death of about 1,000 people.

A mudslide, caused by excessive rain, covers an entire village on Leyte Island in the central Philippines. Over 1,000 people are buried in over 10 feet of mud.

The 20th Winter Olympics are held in and near Turin, Italy, from 10 to 26 February, with more than 2,500 athletes from 84 countries.

On 11 March, Slobodan Milosevic, former Yugoslav president and Serbian nationalist leader who had been on trial for war crimes since 2002, dies of heart failure in his cell in The Hague, Netherlands.

John Kenneth Galbraith, liberal economist, author, professor and diplomat dies in April.

Iranian President Mahmoud Ahmadinejad announces that Iran has nuclear technology and is able to enrich uranium.

In Italy, Romano Prodi and his coalition win a narrow victory in Italy’s national election.

In May, Kenneth Lay and Jeffrey Skilling, both former CEOs of the now-bankrupt Enron Corp., are convicted of conspiracy and securities fraud in the U.S. District Court in Houston.

Citizens of Montenegro vote in favor of seceding from Serbia and becoming an independent nation.

An earthquake in central Java with a magnitude of 6.3 kills over 5,000 people.

Alan Garcia, who was president of Peru from 1985 to 1990, regains the presidency in a runoff election on 4 June.

Warren Buffett, chairman of Berkshire Hathaway Inc., announces that he will give US$37.4 billion, or 85% of his wealth, to philanthropic organizations.

Felipe Calderon, candidate of the governing conservative National Action Party (PAN), is elected president of Mexico.

French insurance firm AXA acquires the Winterthur insurance company from Credit Suisse.

Indian company Mittal Steel merges with Luxembourg company Arcelor thus creating the largest steel producer globally.

On 11 July, a terror attack during the evening rush hour in Mumbai kills over 200 people and leaves over 700 wounded.

Italy beats France to win its 4th FIFA World Cup Championship.

An earthquake under the Indian Ocean with a magnitude of 7.7 triggers a tsunami that kills 668 people on Java.

The Egyptian novelist Naguib Mahfouz, who in 1988 became the first (and to date only) Arabic-language writer to win the Nobel Prize for Literature, dies.

Alfredo Stroessner, military ruler of Paraguay from 1954 to 1989, dies.

On 24 August, the International Astronomical Union redefines Pluto as a "dwarf planet".

Premier Thaksin Shinawatra of Thailand is overthrown in a military coup d'etat in September.

Shinzo Abe, a member of the ruling Liberal Democratic Party, is chosen by Japan's lower house of parliament to be the next prime minister.

Based on calculations by the US Census Bureau, the US population reaches a total of 300 millions on the morning of 17 October, 39 years after it reached 200 million.

On 13 October, the UN General Assembly approves a resolution appointing Foreign Minister Ban Ki Moon of South Korea as the UN’s 8th Secretary General to succeed Kofi Annan on 1 January 2007.

The Nobel Peace Prize is awarded jointly to the micro-credit bank Grameen and its founder Muhammad Yunus.

Brazil's President Luiz Inácio Lula da Silva clearly wins the run-off ballot for a second term in office against his challenger Geraldo Alckmin.

Milton Friedman, one of the most influential 20th-century economists and Nobel Prize Winner, dies in November.

In the US midterm elections, the Democratic Party takes majority control of the US Senate and House of Representatives.

Augusto Pinochet, head of the military government that ruled Chile from 1973 until 1990, dies in December.

In January, UBS in Canada announces the decision to acquire full ownership of its subsidiary, UBS Bunting Limited.

A market timing settlement agreement is reached with the New York Stock Exchange, the State of New Jersey and the State of Connecticut with respect to certain short-term trading activity between 2000 and 2002 by clients of several UBS financial advisors. As part of the settlement, UBS pays USD 54 million.

In February, UBS's Group Executive Board announces its decision to reduce the firm's CO2 emissions 40% by 2012. The firm plans to achieve this by increasing in-house energy efficiency, purchasing more green energy and offsetting emissions, including those caused by business-related air travel.

CO2 emissions

In March, the international wealth management business opens a sub-branch in Osaka, Japan's second largest economic region. This follows the opening of a wealth management office in Tokyo in 2004.

UBS sells its 55.6% stake in Motor-Columbus to a consortium representing Atel's Swiss minority shareholders, EOS Holding and Atel, as well as to French utility Electricité de France (EDF).

In April, UBS announces that it will acquire the Private Client Branch Network of Piper Jaffray Companies, enhancing its wealth management presence in the Midwest and Western United States.

At the Annual General Meeting, shareholders elect Gabrielle Kaufmann-Kohler and Joerg Wolle to the Board of Directors

Gabrielle Kaufmann-Kohler

Joerg Wolle

The firm announces the acquisition of Brazilian investment bank Banco Pactual S.A., a leading independent investment banking and asset management firm in Brazil.

UBS announces the acquisition of ABN AMRO's global futures and options business, giving it the necessary scale in the commoditizing exchange traded derivatives market.

In June, Dillon Read Capital Management (DRCM), UBS's new alternative investment management business, is launched.

The Central Bank of Russia gives UBS a banking license, enabling the firm to expand its businesses in Russia.

UBS officially opens its India Service Centre (ISC) in Hyderabad, India, UBS's first group-wide offshoring facility.

Hyderabad office

On 10 July 2006, UBS shares are split on a 2-for-1 basis.

In September, UBS announces that it will acquire the branch network of McDonald Investments, a unit of KeyCorp. The acquisition further strengthens UBS's wealth management presence in the US.

UBS is granted a license to open an office in the Dubai International Financial Centre, enabling the firm to expand its business in the Middle East.

In November, UBS launches the UBS World Emissions Index, the first index for global markets of emissions allowances.

UBS receives approval from the Ministry of Finance to offer banking services in Mexico. The firm plans to begin operations in first quarter 2007.

UBS's Wealth Management business wins 'Best Private Bank in Asia' from FinanceAsia magazine for the fifth consecutive time.