The year in review

January

In Canada, UBS announced its decision to acquire full ownership of its subsidiary, UBS Bunting Limited.

A market timing settlement agreement was 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 paid USD 54 million.

February

UBS announced its acquisition of a share in the Mexican Stock Exchange. This makes UBS, already a member of the exchange with a rented seat, one of only 25 shareholders.

UBS's Group Executive Board announced 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.

March

In view of the growing client demand for Sharia compliant products, UBS decided to fully integrate its Noriba wealth management subsidiary into UBS's different businesses by the end of 2006.

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

UBS sold 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). The transaction resulted in an after-tax gain of CHF 387 million.

April

UBS announced 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 elected Gabrielle Kaufmann-Kohler and Joerg Wolle to the Board of Directors.

May

The firm announced 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.

June

Dillon Read Capital Management, UBS's new alternative investment management business, was launched.

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

UBS was joint financial advisor to Euro­next on its proposed merger with the New York Stock Exchange (NYSE).

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

July

On 10 July 2006, UBS shares were split on a 2-for-1 basis. A par value repayment of 0.60 Swiss francs a share was made on the same day to shareholders for the sale of Private Banks & GAM.

Wealth Management Research correctly predicted Italy as the winner of the World Cup. Its latest update forecasts that the 2010 world champion might come from South America.

August

UBS was joint financial advisor to Anadarko Petroleum on its 23.3 billion US dollar acquisition of Kerr-McGee and Western Gas resources. UBS also provided a 24 billion US dollar bridge loan to finance the transactions. This was the largest bank loan financing ever executed by UBS and one of the largest ever in the US loan market.

UBS was also joint bookrunner on the 11.2 billion US dollar IPO of the Bank of China.

September

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

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

October

The UBS Verbier Festival Orchestra started an international tour across nine countries in Europe, Asia and Australia. The orchestra played in 11 cities, offering UBS's businesses unique opportunities to meet their clients and prospects.

November

UBS was joint financial advisor and joint lead arranger to Companhia Vale do Rio Doce (CVRD), the world's leading iron ore miner, on its 19.3 billion US dollar all-cash offer for Canadian-based nickel company Inco.

UBS launched the UBS World Emissions Index, the first index for global markets of emissions allowances.

UBS received approval from the Ministry of Finance to offer banking services in Mexico. The firm plans to begin operations in first quarter 2007. Initially, UBS will offer cash, foreign exchange and debt products to institutional investors in Mexico.

December

UBS again sponsored Art Basel Miami Beach – which has become America's premier contemporary art fair. The event showcased roughly 200 leading art galleries from around the world, ­exhibiting an exclusive selection of 20th and 21st century art works by more than 2,000 artists.

UBS's Wealth Management business won ‘Best Private Bank in Asia' from ­FinanceAsia magazinefor the fifth consecutive time.

UBS was joint bookrunner on the CHF 2.9 billion IPO of Petroplus Holdings, one of Europe's leading independent refiners and wholesalers of petroleum products. It was the largest IPO in Switzer­land since 2001 and the fourth largest in Europe in 2006.