 | Analysts & Investors | | Annual Reporting 2005 |
 |
|
|
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
|
|
|
|
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
|
||||
Note 35 Significant Subsidiaries and Associates 
The legal entity group structure of UBS is designed to support the Group’s businesses within an efficient legal, tax, regulatory and funding framework. Neither the Business Groups of UBS (namely Investment Bank, Global Wealth Management & Business Banking and Global Asset Management) nor Corporate Center are replicated in their own individual legal entities, but rather they generally operate out of UBS AG (Parent Bank) through its Swiss and foreign branches.
The parent bank structure allows UBS to capitalize on the advantages offered by the use of one legal platform by all the Business Groups. It provides for the most cost efficient and flexible structure and facilitates efficient allocation and use of capital, comprehensive risk management and control and straightforward funding processes.
Where, usually due to local legal, tax or regulatory rules or due to additional legal entities joining the UBS Group via acquisition, it is either not possible or not efficient to operate out of the parent bank, then local subsidiary companies host the businesses. The significant operating subsidiary companies in the Group are listed below:
Significant subsidiaries | |||||
Company | Jurisdiction of incorporation | Business Group 1 | Share capital
| Equity interest
| |
Banco UBS SA | Rio de Janeiro, Brazil | IB | BRL | 52.9 | 100.0 |
Crédit Industriel SA | Zurich, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
Etra SIM SpA | Milan, Italy | Global WM&BB | EUR | 7.6 | 100.0 |
Factors AG | Zurich, Switzerland | Global WM&BB | CHF | 5.0 | 100.0 |
Noriba Bank BSC | Manama, Bahrain | Global WM&BB | USD | 10.0 | 100.0 |
PaineWebber Capital Inc | Delaware, USA | IB | USD | 25.8 | 100.0 |
PT UBS Securities Indonesia | Jakarta, Indonesia | IB | IDR | 100,000.0 | 98.4 |
Thesaurus Continentale Effekten-Gesellschaft in Zürich | Zurich, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
UBS (Bahamas) Ltd | Nassau, Bahamas | Global WM&BB | USD | 4.0 | 100.0 |
UBS (France) SA | Paris, France | Global WM&BB | EUR | 10.7 | 100.0 |
UBS (Grand Cayman) Limited | George Town, Cayman Islands | IB | USD | 25.0 | 100.0 |
UBS (Italia) SpA | Milan, Italy | Global WM&BB | EUR | 60.0 | 100.0 |
UBS (Luxembourg) SA | Luxembourg, Luxembourg | Global WM&BB | CHF | 150.0 | 100.0 |
UBS (Monaco) SA | Monte Carlo, Monaco | Global WM&BB | EUR | 9.2 | 100.0 |
UBS (Trust and Banking) Limited | Tokyo, Japan | Global AM | JPY | 11,150.0 | 100.0 |
UBS Advisory and Capital Markets Australia Ltd | Sydney, Australia | IB | AUD | 580.8 2 | 100.0 |
UBS Alternative and Quantitative Investments LLC | Delaware, USA | Global AM | USD | 0.0 | 100.0 |
UBS Americas Inc | Delaware, USA | IB | USD | 4,550.8 | 100.0 |
UBS Asesores SA | Panama, Panama | Global WM&BB | USD | 0.0 | 100.0 |
UBS Australia Limited | Sydney, Australia | IB | AUD | 50.0 | 100.0 |
UBS Bank (Canada) | Toronto, Canada | Global WM&BB | CAD | 8.5 | 100.0 |
UBS Bank USA | Utah, USA | Global WM&BB | USD | 1,700.0 | 100.0 |
UBS Belgium SA/NV | Brussels, Belgium | Global WM&BB | EUR | 17.0 | 100.0 |
UBS Capital (Jersey) Ltd | St. Helier, Jersey | IB | GBP | 226.0 | 100.0 |
UBS Capital AG | Zurich, Switzerland | IB | CHF | 5.0 | 100.0 |
UBS Capital Americas Investments II LLC | Delaware, USA | IB | USD | 130.0 2 | 100.0 |
UBS Capital Americas Investments III Ltd | George Town, Cayman Islands | IB | USD | 61.1 2 | 100.0 |
UBS Capital Asia Pacific Limited | George Town, Cayman Islands | IB | USD | 5.0 | 100.0 |
UBS Capital BV | Amsterdam, the Netherlands | IB | EUR | 118.8 2 | 100.0 |
UBS Capital II LLC | Delaware, USA | IB | USD | 2.6 2 | 100.0 |
UBS Capital Latin America LDC | George Town, Cayman Islands | IB | USD | 113.0 2 | 100.0 |
UBS Capital LLC | Delaware, USA | IB | USD | 378.5 2 | 100.0 |
UBS Card Center AG | Glattbrugg, Switzerland | Global WM&BB | CHF | 0.1 | 100.0 |
UBS Commodities Canada Ltd. | Toronto, Canada | IB | USD | 11.3 | 100.0 |
UBS Corporate Finance Italia SpA | Milan, Italy | IB | EUR | 1.9 | 100.0 |
UBS Derivatives Hong Kong Limited | Hong Kong, China | IB | HKD | 60.0 | 100.0 |
UBS Deutschland AG | Frankfurt am Main, Germany | Global WM&BB | EUR | 176.0 | 100.0 |
UBS Employee Benefits Trust Limited | St. Helier, Jersey | CC | CHF | 0.0 | 100.0 |
UBS Energy LLC | Delaware, USA | IB | USD | 0.0 | 100.0 |
UBS España SA | Madrid, Spain | Global WM&BB | EUR | 62.2 | 100.0 |
UBS Fiduciaria SpA | Milan, Italy | Global WM&BB | EUR | 0.2 | 100.0 |
UBS Fiduciary Trust Company | New Jersey, USA | Global WM&BB | USD | 4.4 2 | 99.6 |
UBS Finance (Cayman Islands) Ltd | George Town, Cayman Islands | CC | USD | 0.5 | 100.0 |
UBS Finance (Curação) NV | Willemstad, Netherlands Antilles | CC | USD | 0.1 | 100.0 |
UBS Finance (Delaware) LLC | Delaware, USA | IB | USD | 37.3 2 | 100.0 |
UBS Financial Services Inc | Delaware, USA | Global WM&BB | USD | 1,672.3 2 | 100.0 |
UBS Financial Services Incorporated of Puerto Rico | Hato Rey, Puerto Rico | Global WM&BB | USD | 31.0 2 | 100.0 |
UBS Fund Advisor LLC | Delaware, USA | Global WM&BB | USD | 0.0 | 100.0 |
UBS Fund Holding (Luxembourg) SA | Luxembourg, Luxembourg | Global AM | CHF | 42.0 | 100.0 |
UBS Fund Holding (Switzerland) AG | Basel, Switzerland | Global AM | CHF | 18.0 | 100.0 |
UBS Fund Management (Switzerland) AG | Basel, Switzerland | Global AM | CHF | 1.0 | 100.0 |
UBS Fund Services (Cayman) Ltd | George Town, Cayman Islands | Global AM | USD | 5.6 | 100.0 |
UBS Fund Services (Ireland) Limited | Dublin, Ireland | Global AM | EUR | 1.3 | 100.0 |
UBS Fund Services (Luxembourg) SA | Luxembourg, Luxembourg | Global AM | CHF | 2.5 | 100.0 |
UBS Global Asset Management (Americas) Inc | Delaware, USA | Global AM | USD | 0.0 | 100.0 |
UBS Global Asset Management (Australia) Ltd | Sydney, Australia | Global AM | AUD | 8.0 | 100.0 |
UBS Global Asset Management (Canada) Co | Toronto, Canada | Global AM | CAD | 117.0 | 100.0 |
UBS Global Asset Management (Deutschland) GmbH | Frankfurt am Main, Germany | Global AM | EUR | 7.7 | 100.0 |
UBS Global Asset Management (France) SA | Paris, France | Global WM&BB | EUR | 2.1 | 100.0 |
UBS Global Asset Management (Hong Kong) Limited | Hong Kong, China | Global AM | HKD | 25.0 | 100.0 |
UBS Global Asset Management (Italia) SIM SpA | Milan, Italy | Global AM | EUR | 2.0 | 100.0 |
UBS Global Asset Management (Japan) Ltd | Tokyo, Japan | Global AM | JPY | 2,200.0 | 100.0 |
UBS Global Asset Management (Singapore) Ltd | Singapore, Singapore | Global AM | SGD | 4.0 | 100.0 |
UBS Global Asset Management (Taiwan) Ltd | Taipei, Taiwan | Global AM | TWD | 340.0 | 100.0 |
UBS Global Asset Management (US) Inc | Delaware, USA | Global AM | USD | 35.2 2 | 100.0 |
UBS Global Asset Management Holding Ltd | London, Great Britain | Global AM | GBP | 33.0 | 100.0 |
UBS Global Life AG | Vaduz, Liechtenstein | Global WM&BB | CHF | 5.0 | 100.0 |
UBS Global Trust Corporation | St. John, Canada | Global WM&BB | CAD | 0.1 | 100.0 |
UBS International Holdings BV | Amsterdam, the Netherlands | CC | EUR | 6.8 | 100.0 |
UBS International Inc | New York, USA | Global WM&BB | USD | 34.3 2 | 100.0 |
UBS International Life Limited | Dublin, Ireland | Global WM&BB | EUR | 1.0 | 100.0 |
UBS Investment Bank Nederland BV | Amsterdam, the Netherlands | IB | EUR | 10.8 | 100.0 |
UBS Investment Management Canada Inc | Toronto, Canada | Global WM&BB | CAD | 0.0 | 100.0 |
UBS Italia SIM SpA | Milan, Italy | IB | EUR | 15.1 | 100.0 |
UBS Leasing AG | Zurich, Switzerland | Global WM&BB | CHF | 10.0 | 100.0 |
UBS Life AG | Zurich, Switzerland | Global WM&BB | CHF | 25.0 | 100.0 |
UBS Life Insurance Company (USA) | California, USA | Global WM&BB | USD | 39.3 2 | 100.0 |
UBS Limited | London, Great Britain | IB | GBP | 29.4 | 100.0 |
UBS Loan Finance LLC | Delaware, USA | IB | USD | 16.7 | 100.0 |
UBS Mortgage Holdings LLC | Delaware, USA | Global WM&BB | USD | 0.0 | 100.0 |
UBS New Zealand Limited | Auckland, New Zealand | IB | NZD | 7.5 | 100.0 |
UBS O’Connor LLC | Delaware, USA | Global AM | USD | 1.0 | 100.0 |
UBS Portfolio LLC | Delaware, USA | IB | USD | 0.1 | 100.0 |
UBS Preferred Funding Company LLC I | Delaware, USA | CC | USD | 0.0 |