Important Events:
Switzerland and the World

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

The first General Assembly
of the League of Nations takes place in Geneva (15th November-18th December)

Dr. Léopold Dubois

Léopold Dubois succeeds Alphons Simonius-Blumer as Chairman of SBC.

SBC sets up a Pension Fund for its employees.

SBC employs more than 2000 persons.

UBS sets up a branch in Basle.

UBS acquires the Banca Svizzera-Americana, Locarno (founded in 1896 with a branch office in San Francisco, which was closed in 1909) and thus establishes branches in Locarno and Lugano.

UBS acquires the Unionbank Geneva, and thus establishes a branch in Geneva.

UBS acquires the Banque Henry Rieckel & Cie., La Chaux-de-Fonds, and thus establishes a branch in La Chaux-de-Fonds.

At the end of this year UBS, for the first time, employs more than 1'000 persons (1289).

UBS decides to model its English name in analogy to the French one: Union Bank of Switzerland (UBS).

UBS establishes a branch office in Frauenfeld.

In Italy Mussolini
erects a fascist dictatorship.

In Switzerland 100'000 workers are out of a job.

SBC celebrates its 50th anniversary. To mark the jubilee, each of the 2'200 employees, who had been with the bank for at least one year, receives a watch. The 175'000 Francs spent on these presents were, at the same time, a support to the Swiss watch industry during a crisis.

A Hyper-Inflation in Germany,
resulting from war bonds and reparation payments after WW1, reaches its peak and wipes-out all savings of the German population. On November 15 one US-Dollar costs 4.2 trillion Mark. A subsequent currency reform stops the inflation and restores the Dollar parity of 1914 (1 Dollar = 4.2 Mark).

UBS acquires the Schweizerische Vereinsbank, Bern, and thus establishes a branch in Berne.