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Results of the Annual General Meeting of UBS AG

2013-05-02T18:00:00.000+02:00

At the Annual General Meeting held on May 2, 2013, UBS's shareholders confirmed in their offices those members of the Board of Directors who had stood for re-election, and voted Reto Francioni onto the Board for the first time. 2'501 shareholders attended the General Meeting, representing 1'809'082'901 votes.

UBS's first-quarter 2013 result

2013-04-30T06:45:00.000+02:00

UBS to report first-quarter 2013 results on 30 April 2013

2013-04-24T11:00:00.000+02:00

Agenda for the Annual General Meeting of UBS AG on 2 May 2013

2013-04-02T07:00:00.000+02:00

UBS publishes updated timeseries showing historical financial information for the Investment Bank and the Corporate Center under the reporting structures adopted in 1Q13

2013-03-28T23:15:00.000+01:00

UBS to participate in Morgan Stanley European financials conference

2013-03-19T07:00:00.000+01:00

UBS publishes Annual Report 2012

2013-03-14T07:00:00.000+01:00

UBS publishes quarterly pro-forma 2012 results for the Investment Bank, Non-core and Treasury under the reporting structure adopted from 1Q13

2013-03-14T06:59:00.000+01:00

Changes to the UBS Board of Directors

2013-03-12T07:00:00.000+01:00

UBS to buy back outstanding bonds in public tender offers

2013-02-05T06:50:00.000+01:00

UBS's fourth-quarter 2012 results

2013-02-05T06:45:00.000+01:00

UBS to report fourth-quarter 2012 results on 5 February 2013

2013-01-29T09:00:00.000+01:00

UBS Board of Directors authorizes settlements of LIBOR-related claims with US and UK authorities; Swiss regulator to issue order

2012-12-19T07:00:00.000+01:00

UBS announces strategic acceleration from a position of strength

2012-10-30T06:46:00.000+01:00

UBS reinforces commitment to deliver more sustainable and attractive returns; significantly reshaping its Investment Bank
Group Basel III RWAs¹ targeted to be reduced further to below CHF 200 billion by end 2017; Investment Bank will operate with Basel III RWAs of less than CHF 70 billion effective 1.1.13
Group-wide efficiencies targeting incremental CHF 3.4 billion annual cost savings with total savings of CHF 5.4 billion by 2015; UBS investing CHF 1.5 billion across all of its business divisions
With immediate effect, Andrea Orcel to lead the Investment Bank; Carsten Kengeter to step down from Group Executive Board and lead management of exited Investment Bank businesses and positions

UBS's third-quarter 2012 results

2012-10-30T06:45:00.000+01:00

UBS publishes Basel 2.5 Pillar 3 First Half 2012 report

2012-08-31T15:00:00.000+02:00

UBS's second quarter 2012 results

2012-07-31T06:45:00.000+02:00

UBS publishes updated timeseries reflecting a change in the reporting of own credit to Corporate Center – Core Functions from the Investment Bank and the Legacy Portfolio

2012-07-09T16:00:00.000+02:00

Results of the Annual General Meeting of UBS AG

2012-05-03T18:00:00.000+02:00

UBS's first quarter 2012 results

2012-05-02T06:45:00.000+02:00

Agenda for the Annual General Meeting of UBS AG on 3 May 2012

2012-03-29T07:00:00.000+02:00

UBS publishes updated timeseries showing historical financial information reflecting the transfer of the legacy portfolio from the Investment Bank to the Corporate Center

2012-03-26T18:30:00.000+02:00

UBS announces changes to the Group Executive Board

2012-03-22T18:00:00.000+01:00

UBS publishes Annual Report 2011

2012-03-15T07:00:00.000+01:00

UBS launches USD 2 billion Basel III-compliant loss-absorbing notes

2012-02-22T07:00:00.000+01:00

UBS full-year pre-tax profit CHF 5.5 billion; wealth management businesses' full-year net new money CHF 35.6 billion; end-2011 Basel 2.5 tier 1 ratio 16.0%; dividend of CHF 0.10 to be proposed for 2011

2012-02-07T06:45:00.000+01:00

Changes to the UBS Board of Directors

2012-02-03T07:00:00.000+01:00

Beatrice Weder di Mauro and Isabelle Romy to be nominated for election to UBS Board of Directors at the Annual General Meeting on 3 May 2012
Bruno Gehrig will not stand for reelection to the UBS Board

UBS announces leadership changes

2011-12-01T07:00:00.000+01:00

2011 Investor Day: UBS updates its strategy and capital plans; establishes new financial targets and announces its intention to introduce a progressive capital return program

2011-11-17T17:40:00.000+01:00

Senior leadership nominations at UBS

2011-11-15T06:45:00.000+01:00

UBS re-files first half 2011 Basel II Pillar 3 report

2011-11-09T07:30:00.000+01:00

UBS third-quarter pre-tax profit CHF 1 billion; wealth management businesses' net new money CHF 7.8 billion; BIS tier 1 capital ratio 18.4%

2011-10-25T06:45:00.000+02:00

UBS updates its 2010 financial controls assessment

2011-10-25T06:45:00.000+02:00

UBS expects to report a modest net profit for the Group and positive net new money in its wealth management businesses for the third quarter of 2011

2011-10-04T07:00:00.000+02:00

Leadership change at UBS

2011-09-24T12:00:00.000+02:00

UBS provides more detailed information on unauthorized trading

2011-09-18T16:00:00.000+02:00

Media Release

2011-09-15T08:57:00.000+02:00

Zurich/Basel, 15 September 2011 - UBS has discovered a loss due to unauthorized trading by a trader in its Investment Bank. The matter is still being investigated, but UBS's current estimate of the loss on the trades is in the range of USD 2 billion. It is possible that this could lead UBS to report a loss for the third quarter of 2011. No client positions were affected.

UBS update on cost reduction plans

2011-08-23T07:00:00.000+02:00

UBS publishes first half 2011 Basel II Pillar 3 report

2011-08-11T19:00:00.000+02:00

UBS's Basel II Pillar 3 report is an update as of 30 June 2011 of UBS's Basel II Pillar 3 quantitative disclosures published in UBS's Annual Report 2010. This report provides additional disclosures on capital and risk and should be read in conjunction with UBS's second quarter 2011 financial report published on 26 July 2011 and UBS's Annual Report 2010 published on 15 March 2011. It is available in English.

UBS second-quarter profit before tax CHF 1.7 billion; Group net new money CHF 8.7 billion; tier 1 capital ratio 18.1%

2011-07-26T06:45:00.000+02:00

Axel Weber to be nominated for election to UBS Board of Directors in 2012 and to be appointed Chairman in 2013

2011-07-01T07:00:00.000+02:00

Results of UBS AG's Annual General Meeting

2011-04-28T17:00:00.000+02:00

UBS first-quarter profit before tax CHF 2.2 billion; Group net new money CHF 22.3 billion; Tier 1 capital ratio 17.9%

2011-04-26T06:45:00.000+02:00

For the first quarter of 2011 we report higher profits than in the fourth quarter of 2010. Net new money for the Group was positive, with positive net flows recorded across all of our asset-gathering businesses confirming the return of client trust and confidence. Our Basel II tier 1 capital ratio remains among the highest in the industry.

Agenda for the Annual General Meeting of UBS AG on 28 April 2011

2011-03-25T07:00:00.000+01:00

Zurich/Basel, 25 March 2011 - UBS AG today published the agenda for the Annual General Meeting (AGM) on 28 April 2011. The agenda items are as follows:

UBS publishes Annual Report 2010

2011-03-15T06:45:00.000+01:00

UBS is today publishing its Annual Report for 2010. The report is available at www.ubs.com/annualreporting.

Change on UBS Board of Directors

2011-02-14T07:00:00.000+01:00

UBS fourth quarter net profit attributable to shareholders of CHF 1.3 billion. Full year net profit of CHF 7.2 billion

2011-02-08T06:45:00.000+01:00

For 2010, net profit attributable to UBS shareholders was CHF 7.2 billion compared with a loss of CHF 2.7 billion in 2009. 2010 diluted earnings per share of CHF 1.87 compared with negative CHF 0.75 in 2009, and return on equity of 15.9 % for 2010 compared with negative 7.8% at the end of last year
During 2010 our BIS tier 1 capital ratio increased to 17.7% from 15.4% and our BIS core tier 1 capital ratio increased to 15.3% from 11.9% at the end of 2009. We will continue to retain earnings to meet capital requirements and will not pay a dividend for 2010
Cost discipline maintained; we achieved our fixed cost target of less than CHF 20 billion for 2010

Sally Bott not to stand for re-election at UBS Annual General Meeting on 28 April 2011

2011-02-07T07:00:00.000+01:00

Zurich/Basel, 7 February 2011 - UBS today announces that Sally Bott, member of the UBS Board of Directors, will not stand for re-election at the UBS Annual General Meeting on 28 April 2011. UBS will announce in due course if it will nominate an additional candidate for election to the Board of Directors.

Sally Bott informed the Board of Directors that she will pursue other endeavours and therefore will not stand for re-election.

Sally Bott was elected to the Board of Directors at the October 2008 Extraordinary General Meeting. She chairs the Human Resources and Compensation Committee and is also a member of the Corporate Responsibility Committee and the Governance and Nominating Committee.

Kaspar Villiger, Chairman of the Board of Directors of UBS, said: "I greatly regret that Sally Bott is leaving our Board. Her in-depth knowledge in the field of human resources was an invaluable asset for the Board during the past two and a half years. I thank Sally for her outstanding contributions and great commitment and wish her every success and fulfilment in the future."

UBS announces changes to the Group Executive Board

2010-12-03T18:00:00.000+01:00

2010 Investor Day: UBS updates investors on progress and reconfirms medium-term targets

2010-11-16T07:00:00.000+01:00

UBS third quarter net profit attributable to shareholders of CHF 1,664 million; diluted earnings per share of CHF 0.43

2010-10-26T06:45:00.000+02:00

Revenues affected by unusually low levels of client activity; management responded by reducing costs Results include a CHF 825 million net tax credit and an own credit charge of CHF 387 million; profit before tax of CHF 818 million

UBS announces senior management appointments

2010-10-22T07:00:00.000+02:00

UBS publishes transparency report

2010-10-14T06:45:00.000+02:00

UBS to participate in Bank of America Merrill Lynch financials conference

2010-09-30T07:00:00.000+02:00

UBS announces Alex Wilmot-Sitwell and Chi-Won Yoon as Co-Chairmen and Co-CEOs, Asia Pacific

2010-09-28T00:00:00.000+02:00

UBS today announced the appointment of Alex Wilmot-Sitwell as Co-Chairman and Co-CEO of Asia Pacific. Alex will lead the region together with Chi-Won Yoon, current Chairman and CEO, Asia Pacific. Alex will be based in Hong Kong and will take over his new role on 1st November 2010. Carsten Kengeter, currently Co-CEO UBS Investment Bank, will become sole head of the Investment Bank.

UBS study: «Prices and Earnings»

2010-09-15T10:00:00.000+02:00

A comparison of purchasing power around the globe, 2010 update

UBS publishes first half 2010 Basel II Pillar 3 report

2010-08-12T06:15:00.000+02:00

UBS's Basel II Pillar 3 report is an update as of 30 June 2010 of UBS's Basel II Pillar 3 quantitative disclosures published in UBS's Annual Report 2009. This report provides additional disclosures on capital and risk and should be read in conjunction with UBS's second quarter 2010 financial report published on 27 July 2010 and UBS's Annual Report 2009 published on 15 March 2010. It is available in English.

UBS second quarter pre-tax profit of CHF 2,614 million

2010-07-27T06:45:00.000+02:00

Following Swiss parliamentary approval of the US-Swiss Government Agreement, UBS expects to achieve a comprehensive resolution of all outstanding matters with the US government related to the US cross-border business by October 2010.

UBS nominates Joseph Yam for election to its Board of Directors

2010-07-23T07:00:00.000+02:00

UBS has nominated Joseph Yam, founder and former Chief Executive of the Hong Kong Monetary Authority, for election to the Board of Directors at the bank's Annual General Meeting on 28 April, 2011.

UBS responds to Parliamentary approval of the US-Swiss Government Agreement

2010-06-17T10:00:00.000+02:00

UBS reports a first quarter pre-tax profit of CHF 2,810 million

2010-05-04T06:45:00.000+02:00

Zurich/Basel, 4 May 2010 - Commenting on UBS's first quarter 2010 results, Group CEO Oswald J. Grübel said: "We are well positioned to meet our medium-term goals. We implemented the measures announced in 2009 and delivered a good profit while managing our costs and using our balance sheet and risks in a disciplined way."

Results of the Annual General Meeting of UBS AG

2010-04-14T20:15:00.000+02:00

At the Annual General Meeting on April 14, 2010, UBS shareholders re-elected the members of the Board of Directors, elected Wolfgang Mayrhuber to the Board, and approved the creation of conditional capital as a component of contingency planning. The Annual General Meeting was attended by 4,728 shareholders, representing 1,688,613,239 votes.

Publication of adjusted figures and timeseries reflecting UBS's new reporting structure

2010-04-13T16:00:00.000+02:00

UBS pre-announces a Q1 pre-tax profit of at least CHF 2.5 billion

2010-04-12T10:30:00.000+05:30

UBS forecasts Q1 result for FICC unit

2010-03-30T12:00:00.000+02:00

Zurich/Basel, 30 March 2010 - A media report late yesterday indicated that UBS's Fixed Income, Currencies and Commodities unit (FICC) would generate revenue of about US$2.3 billion in first quarter 2010. Under SIX ad hoc publicity rules, UBS is required to comment on this report. The reported figure is slightly higher than FICC's current first quarter forecast revenues. Because the quarter has not ended and results to date are subject to possible fair value adjustments, including those relating to own credit, this forecast may not be reliable. UBS will issue its first quarter 2010 financial results on 4 May 2010.

UBS appoints Lukas Gähwiler CEO UBS Switzerland

2010-03-26T07:00:00.000+01:00

Agenda for the Annual General Meeting of UBS AG on 14 April 2010

2010-03-18T07:00:00.000+01:00

UBS publishes Annual Report 2009

2010-03-15T07:00:00.000+01:00

UBS is today publishing its Annual Report for 2009. The report is available at www.ubs.com/annualreporting

UBS reports a fourth quarter profit of CHF 1,205 million

2010-02-09T06:15:00.000+01:00

Zurich/Basel, 9 February 2010 - Commenting on UBS's fourth quarter 2009 results, Group CEO Oswald J. Grübel said: "We entered 2009 at the height of the crisis. By the end of 2009 UBS has returned to profitability, delivering on its priorities. We have taken decisive action to transform UBS, and it is now a focused, efficient and resilient firm. We expect that our return to profitability will increase clients' confidence in UBS and restore our reputation."

UBS Board decision regarding claims in the subprime and US cross-border matters

2009-12-15T11:00:00.000+01:00

Today, the UBS Board of Directors announced that it will not initiate legal action against former senior executives in connection with UBS's subprime-related losses and its former US cross-border business for private clients. The Board took its decision after a thorough review of these matters, which included consultation with external legal experts.

UBS AG nominates Wolfgang Mayrhuber for election to its Board of Directors

2009-12-07T07:00:00.000+01:00

UBS AG nominates Wolfgang Mayrhuber, chief executive officer of Deutsche Lufthansa AG, for election to its Board of Directors at its annual general meeting on 14 April 2010.

S&P report not reflective of UBS's capital position: Pro forma risk-adjusted capital ratio at 7.1% (when taking into account mandatory convertible notes)

2009-11-24T17:30:00.000+01:00

2009 Investor Day: UBS provides update on progress in transforming the firm and announces medium-term Group and divisional objectives

2009-11-17T07:00:00.000+01:00

UBS reports a third quarter loss of CHF 564 million, impacted by accounting charges of CHF 2,150 million

2009-11-03T07:00:00.000+01:00

Excluding these accounting charges, the underlying pre-tax profit was CHF 1,557 million

UBS Appoints Robert J. McCann as Chief Executive Officer, Wealth Management Americas & Member of UBS Group Executive Board

2009-10-27T07:00:00.000+01:00

UBS AG announced today the appointment of Robert J. McCann as Chief Executive Officer of UBS Wealth Management Americas and Member of the Group Executive Board of UBS AG.

Mr. McCann, 51, will immediately assume responsibility for the firm's domestic wealth management businesses in the United States and Canada, including all international business booked in the US. He will lead nearly 8,000 Financial Advisors in more than 320 branches across the US, Puerto Rico and Canada, managing CHF 695 billion in invested assets.

UBS Group CEO Oswald Gruebel said: "I want to welcome Bob McCann to UBS. He comes to us having led one of the largest wealth management advisory teams in the world. Bob has an outstanding reputation as an inspiring and thoughtful leader and will apply his long and deep client relationship and business experience to gain market share, increase profitability and grow our Wealth Management Americas business. I am confident that his proven ability to meet client needs, manage businesses and develop financial advisors will drive UBS Wealth Management Americas to a higher level of performance and return for all stakeholders.

"In the Americas alone, the wealth management market opportunity represents high net worth assets in excess of USD 20 trillion. Under Bob's leadership, I believe that the business will now consolidate its position as the firm of choice for those clients seeking a fully integrated offering of diverse products and tailored advisory services."

Mr. McCann said: "Coming to UBS is a once-in-a-lifetime opportunity to join a leading global wealth manager. It is a firm that I always considered to be a tough competitor and I will add my energy and ideas to the turnaround underway. The domestic Americas business represents an enormous wealth management opportunity for UBS. I see tremendous long-term potential growth for clients, employees and shareholders."

Over a 26-year career at Merrill Lynch, Mr. McCann held a variety of executive leadership positions throughout the firm. Prior to his departure in January 2009, Mr. McCann was President of Global Wealth Management. Previous roles he held during his tenure at the firm included Vice Chairman of the firm's Wealth Management Group, which included Global Private Client and Merrill Lynch Investment Managers. He was also Head of Global Securities Research, Chief Operating Officer of Global Markets and Investment Banking, Head of Global Institutional Sales and Head of Global Equity Trading and Markets.

Mr. McCann received a B.A. in Economics from Bethany College and an M.B.A. from Texas Christian University.

UBS appoints John F. Bradley as Group head of Human Resources

2009-10-23T12:00:00.000+02:00

UBS today announced that John F. Bradley will join UBS as Group head of Human Resources (HR) based in Zurich with immediate effect. During his 26 years with JP Morgan Chase & Co., where he concluded his career as global head of HR, John gained extensive leadership experience in all areas of HR management. Gery Brüderlin, UBS's current Group head of HR, will stay with UBS in a yet to be determined role and work with John during the transition period.

UBS releases adjusted time series reflecting functional transformation of the Corporate Center

2009-10-20T11:00:00.000+02:00

UBS today published adjusted time series showing historical quarterly and annual results for full-year 2006, 2007 and 2008 and each of the past ten quarters (starting with first quarter 2007) reflecting the functional transformation of the Corporate Center. By integrating most service, control and infrastructure functions across the business divisions in the Corporate Center, UBS seeks to improve its controls and the efficiency and quality of these functions on a sustainable basis.

Bank of America Merrill Lynch Banking & Insurance CEO Conference 30th September 2009, London

2009-09-29T14:00:00.000+02:00

John Cryan, CFO, will speak 08.00 - 08.45am (London)

Sergio Marchionne and Peter Voser will not stand for re-election to the Board of Directors of UBS AG

2009-09-29T07:00:00.000+02:00

Sergio Marchionne, senior independent director of the Board of Directors of UBS AG, and Peter Voser will not stand for re-election to the Board of UBS AG at the general assembly of 14 April 2010.

UBS publishes first half 2009 Basel II Pillar 3 report

2009-08-21T07:00:00.000+02:00

UBS's Basel II Pillar 3 report is an update as of 30 June 2009 of UBS's Basel II Pillar 3 quantitative disclosures published in UBS's restated 2008 annual report. This report provides additional disclosures on capital management, credit risk, market risk and securitization and should be read in conjunction with UBS' second quarter 2009 financial report published on 4 August 2009. It is available in English at www.ubs.com/investors.

SEC form 6-K filing: Announcement by Swiss Confederation regarding conversion of UBS mandatory convertible notes and placement of shares

2009-08-19T22:45:00.000+02:00

The Swiss Confederation (the "Confederation") has announced its intention to exercise its right to convert all CHF 6 billion of its holding of UBS Mandatory Convertible Notes due 2011 ("MCNs") and to place with institutional investors the newly issued UBS shares received upon conversion.

Upon conversion of the MCNs, UBS will issue 332,225,913 new shares with a nominal value of CHF 0.10 each from existing conditional capital. As a result, the share capital of UBS will increase from currently CHF 322,583,859.90 to CHF 355,806,451.20. Conversion and the capital increase are expected to take place on 25 August 2009.

Further, in connection with the conversion of the MCNs, the Confederation will waive its right to receive future coupons on the converted MCNs for a cash amount of approximately CHF 1.8 billion (the "Coupon Consideration"), representing the present value of the future coupon payments. The Coupon Consideration does not differ materially in amount from the book value of the relevant liability held in UBS's balance sheet as at 30 June 2009. The Coupon Consideration will, therefore, have no material impact on UBS's profit and loss account for the third quarter of 2009. However, the Coupon Consideration will reduce UBS's regulatory capital by approximately CHF 1.4 billion.

This document does not constitute an offer of securities for sale in the United States of America. Securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States of America absent registration or an exemption from registration thereunder.

Announcement by Swiss Confederation regarding conversion of UBS mandatory convertible notes and placement of shares

2009-08-19T22:10:00.000+02:00

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA

Formal signing of settlement agreement relating to the John Doe summons

2009-08-19T16:00:00.000+02:00

Agreement does not call for any payment

UBS study: «Prices and Earnings» 2009

2009-08-19T08:00:00.000+02:00

An international comparison of purchasing power in 73 cities around the globe

Agreement to resolve the John Doe summons

2009-08-12T17:15:00.000+02:00

Today, the US government informed the US District Court of the Southern District of Florida that all parties have reached an agreement to resolve the John Doe summons matter and that they have initialed the final documentation. The hearing scheduled for 17 August will be removed from the court's calendar, and immediately after the formal signing has occurred, the parties will file the agreed upon stipulation of dismissal with the court.

UBS reports a second quarter loss of CHF 1.4 billion; quarter-end BIS tier 1 ratio of 13.2%

2009-08-04T07:00:00.000+02:00

UBS reports a second quarter loss of CHF 1,402 million.

Update on John Doe Summons Litigation

2009-07-31T17:00:00.000+02:00

The US Government has informed the Court in the John Doe Summons matter that the parties have reached an agreement in principle on the major issues and expect to resolve the remaining issues in the coming week. A status conference among the parties has been scheduled for August 7, 2009. At the request of the US and Swiss Governments, we have agreed not to comment further at this time.

UBS Saudi Arabia receives commencement letter from the Capital Market Authority of the Kingdom of Saudi Arabia

2009-07-14T08:30:00.000+02:00

UBS AG today announces that UBS Saudi Arabia has received approval from the Capital Market Authority (CMA) to commence securities business activities in the Kingdom of Saudi Arabia. This enables the firm to expand its presence in the Middle East and marks a further step towards the firm's goal of becoming one of the region's leading financial services providers.
UBS Saudi Arabia is based in Riyadh and will provide the firm's comprehensive range of services to government, corporate and individual clients covering wealth management, investment banking, fixed income sales and execution, and institutional asset management.

In establishing UBS Saudi Arabia, UBS has partnered with local interests including Mohammed Al Dhoheyan, previously CEO of the Development and Management House for Investments, and MerchantBridge, an equity house investing in the Middle East.

John Fraser, Chairman and CEO of UBS Global Asset Management, UBS AG Group Executive Board member and Chairman of UBS Saudi Arabia said: "We are delighted with the approval to commence business in Saudi Arabia and look forward to providing top quality financial and securities business services to our clients in the Kingdom."

"With over 40 years' experience in the region, our decision to establish UBS Saudi Arabia in the Kingdom is further affirmation of UBS's long-standing commitment to the Middle East and marks yet another important milestone in this very critical and substantial market."

Mohamed Sammakia, CEO of UBS Saudi Arabia also commented: "Saudi Arabia is the dominant market in the Gulf region and, as such, we are very determined to make this business a success. In particular we are very proud of the excellent team already on the ground that will support our local clients and capitalise on the myriad of opportunities within the Kingdom".

Mohamed Al Dhoheyan, Vice Chairman of UBS Saudi Arabia also commented: "UBS has a deep-rooted relationship with the Kingdom dating back to the early 1950s. We have a great opportunity to capitalize on our strengths by now being on the ground."

The US government and UBS, supported by the Swiss government, agree to 15-day suspension of John Doe summons litigation

2009-07-12T18:40:00.000+02:00

UBS welcomes the announcement that the US and Swiss governments have agreed to negotiations for the purpose of resolving the John Doe summons litigation.

This agreement has resulted in a joint motion by the US government and UBS, with the support of the Swiss government, for a stay of the litigation in Miami for a duration of 15 days in order to achieve a settlement. The parties and the Swiss government will present this motion for the court's approval on Monday morning.

CHF 3.8 billion placement of new shares from authorized capital

2009-06-25T23:16:00.000+02:00

UBS is offering 293,258,050 newly issued shares from authorized capital to a small number of institutional investors at a price of CHF 13.00 per share. After deducting costs associated with the placement, the amount of new equity capital expected to be raised is approximately CHF 3.8 billion.

UBS provides an update on its current trading performance

2009-06-25T23:15:00.000+02:00

Based upon preliminary results for April and May and estimated results for June, UBS expects to incur a net loss for its second quarter 2009. The majority of the expected loss is attributable to own credit and the restructuring charges that have already been announced. The operating result for the quarter is expected to represent an improvement compared with the first quarter of 2009, largely attributable to better market conditions affecting the Investment Bank and a reduction in losses and write downs on legacy risk positions.

UBS appoints Chi-Won Yoon as Chairman & CEO, Asia Pacific

2009-06-25T07:00:00.000+02:00

UBS today announced the appointment of Chi-Won Yoon as Chairman & CEO of Asia Pacific and as member of UBS's Group Executive Board, with immediate effect. Yoon succeeds Rory Tapner who, after 25 years, is leaving UBS.

UBS restates 2008 annual report

2009-05-20T20:00:00.000+02:00

As announced in UBS's first quarter 2009 report published on 5 May 2009, UBS has restated its annual report for 2008, including the financial statements and other information.

UBS reports a first quarter loss of CHF 2.0 billion; quarter-end BIS tier 1 ratio of 10.5%

2009-05-05T07:00:00.000+02:00

UBS reports a first quarter loss of CHF 1,975 million.

Publication of adjusted figures and timeseries reflecting UBS's new organizational structure

2009-04-28T09:00:00.000+02:00

UBS today published adjusted figures and timeseries showing historical quarterly and annual results under UBS's new organizational structure.

UBS names Alex Wilmot-Sitwell and Carsten Kengeter as co-CEOs of its Investment Bank

2009-04-27T07:00:00.000+02:00

Jerker Johansson, CEO UBS Investment Bank, has resigned from UBS with immediate effect.

UBS sells its Brazilian operation "UBS Pactual" for approximately USD 2.5 billion (CHF 2.8 billion)

2009-04-20T07:00:00.000+02:00

Today, UBS announces that it has agreed to sell its Brazilian financial services business, UBS Pactual, for approximately USD 2.5 billion to BTG Investments, headed by André Esteves.

Annual General Meeting of UBS AG

2009-04-15T18:10:00.000+02:00

UBS AG shareholders elected Kaspar Villiger, Michel Demaré, Ann F. Godbehere and Axel P. Lehmann to the Board of Directors at the Annual General Meeting (AGM) on 15 April 2009. Effective immediately, Kaspar Villiger is the Chairman of the Board of Directors. Peter R. Voser, David Sidwell, Sally Bott, Rainer-Marc Frey, Bruno Gehrig and William G. Parrett were re-elected to the Board. In addition, shareholders approved the creation of conditional and authorized capital. 4,985 shareholders attended the AGM, representing 925,014,053 votes.

UBS AGM: pre-announcement of key elements of the first-quarter results, further cost-saving measures and strategy

2009-04-15T07:00:00.000+02:00

UBS names Ulrich Körner as Group COO and CEO of Corporate Center

2009-04-01T07:00:00.000+02:00

UBS will integrate its group-wide infrastructure and service functions (IT, Human Resources, Procurement, Real Estate and Facility Management) into Corporate Center and will centralize the management of its control functions (Finance, Risk, Legal and Compliance). Ulrich Körner has been appointed Group Chief Operating Officer and a member of the Group Executive Board with immediate effect. He will lead the Corporate Center in this function and serve on the Group Executive Committee of the bank.

Agenda for the annual general meeting of UBS AG on 15 April 2009

2009-03-19T07:00:00.000+01:00

UBS AG today sent the agenda for the annual general meeting (AGM) of UBS AG on 15 April 2009 to its shareholders. The agenda items are as follows:

UBS to buy back outstanding bonds in a public tender offer

2009-03-19T07:00:00.000+01:00

UBS offers to buy outstanding lower tier 2 debt for up to EUR 1 billion using available cash. The note repurchases would result in a gain that will bolster UBS's tier 1 regulatory capital ratio.

UBS AG announces Board of Directors nominations

2009-03-16T07:00:00.000+01:00

UBS publishes 2008 annual report

2009-03-11T07:00:00.000+01:00

UBS is today publishing its annual report for 2008. The report is available at www.ubs.com/annualreporting.

Peter Kurer will not stand for re-election as Chairman of the UBS Board of Directors - Kaspar Villiger is nominated for election as Chairman of the UBS Board of Directors

2009-03-04T07:00:00.000+01:00

Peter Kurer, Chairman of the UBS Board of Directors, has decided not to stand for re-election at its Annual General Meeting on 15 April 2009. The UBS Board of Directors is nominating Kaspar Villiger as a candidate for the role of Chairman.

UBS appoints Oswald J. Grübel as Group Chief Executive Officer

2009-02-26T07:00:00.000+01:00

UBS announced today that the Board of Directors has appointed Oswald J. Grübel as its new Group Chief Executive Officer with immediate effect. This represents a further step to restore stakeholder confidence and to pave the way back to success.

Reaction of UBS regarding today's communiqué from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg

2009-02-25T20:00:00.000+01:00

UBS took notice of the communiqué and will defend itself vigorously

UBS Intends to Challenge Enforcement of IRS "John Doe" Summons

2009-02-19T20:00:00.000+01:00

UBS AG (UBS) announced today that the U.S. Internal Revenue Service (IRS), as was expected, has commenced a civil action in the U.S. District Court for the Southern District of Florida seeking judicial enforcement of a civil "John Doe" summons that was served upon UBS in July 2008.

UBS settles US Cross-Border Case with the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC)

2009-02-18T23:45:00.000+01:00

UBS is resolving investigations relating to its US cross-border business by entering into a Deferred Prosecution Agreement (DPA) with the US Department of Justice (DOJ) and a Consent Order with the US Securities and Exchange Commission (SEC).

Preparing UBS for the new market environment

2009-02-10T07:00:00.000+01:00

UBS announced today structural changes to adjust to new market conditions and the changing environment. UBS created two new business divisions: Wealth Management & Swiss Bank under the leadership of Franco Morra and Juerg Zeltner, and Wealth Management Americas, led by Marten Hoekstra. Each of the three executives is a member of the Group Executive Board. The new structure re-focuses UBS on its Swiss core businesses, on the large scale and strengths of its international wealth management franchise in Switzerland, and on the growth potential of its on-shore business globally. The Investment Bank has made substantive progress in de-risking and de-leveraging its balance sheet, and its overall structure has been greatly simplified. Achievable targets have been set for 2009 for further reducing headcount and for use of balance sheet and overall risk. UBS confirmed the Board of Directors' and the Group Executive Board's commitment to each of UBS's business divisions and strategy. Despite difficult market conditions, UBS has made substantial progress in adjusting its operations and has prepared itself for the new market environment.

UBS reports a fourth quarter loss of CHF 8.1 billion; excluding certain substantial items, adjusted net operating results (pre-tax) were negative CHF 2.8 billion

2009-02-10T07:00:00.000+01:00

Year-end tier 1 capital ratio of 11.5%

UBS Investment Bank Enters into Agreement with AIG to Acquire the Commodity Index Business of AIG Financial Products Corp

2009-01-19T07:00:00.000+01:00

The Equities business of UBS Investment Bank announced today that it has entered into a binding agreement to purchase the commodity index business of AIG Financial Products Corp, including AIG's rights to the DJ-AIG Commodity Index. This commodity index business is comprised of a product platform of commodity index swaps and funded notes based on the benchmark Dow Jones-AIG Commodity Index (DJ-AIGCI).

The purchase price for the transaction is $15 million, payable upon closing, and additional payments of up to $135 million over the following 18 months based upon future earnings of the purchased business. The closing is subject to a number of regulatory and other conditions. No assurances can be given that any such conditions will be satisfied.

The transaction is expected to close by May 2009.

UBS announces sale of its Base Metals, Oil and US Power & Gas businesses

2009-01-16T09:01:00.000+01:00

UBS Investment Bank today announces that it has signed a transfer agreement with Barclays Bank PLC regarding the further sale of parts of its non-strategic Commodities businesses.

UBS AG announces sale of Bank of China stake

2008-12-31T10:00:00.000+01:00

UBS AG Extraordinary General Meeting

2008-11-27T14:00:00.000+01:00

98.53% of voting UBS shareholders approved today the creation of conditional share capital for the issuance of mandatory convertible notes in the amount of CHF 6 billion to the Swiss Confederation.

2,395 shareholders attended the Extraordinary General Meeting in Lucerne, representing 993,568,667 votes.

New UBS compensation model

2008-11-17T11:00:00.000+01:00

Beginning in 2009, UBS will adopt a new compensation model for the Board of Directors and the Group Executive Board.

Statement On Indictment Of UBS Executive

2008-11-12T22:00:00.000+01:00

UBS confirmed today that Raoul Weil, Chairman and CEO of UBS Global Wealth Management and Business Banking and a member of the Group Executive Board, has been indicted by a Federal grand jury sitting in the Southern District of Florida in connection with the ongoing investigation of UBS's US cross-border business by the United States Department of Justice. Raoul Weil was previously head of UBS Wealth Management International from 2002 to 2007.

Mr. Weil has determined that, in the interest of the firm and its clients, and in order to defend himself, he will relinquish his duties at this time pending the resolution of this matter. On an interim basis, Marten Hoekstra, currently Deputy CEO of Global Wealth Management & Business Banking and Head of Wealth Management US, will assume Mr. Weil's duties.

As announced on July 17, 2008, UBS will cease providing cross-border private banking services to US-domiciled clients through its non-US regulated units. UBS is fully committed to continuing its efforts to cooperate with the investigation of its US cross-border business and to working in a responsible manner with all relevant authorities towards a satisfactory resolution of this matter.

Agenda for the Extraordinary General Meeting of UBS AG on 27 November 2008

2008-11-05T07:00:00.000+01:00

The following item will be on the agenda of UBS AG's previously announced Extraordinary General Meeting, taking place on 27 November 2008:

Status Report of the Board of Directors and Report on Compensation
The Chairman of the Board of Directors will report on the UBS Review of Compensation:
(i) Review of existing compensation systems
(ii) Changes to compensation programs
(iii) Issue of repayment of previously granted incentive awards

The Board of Directors will make this status report for information purposes and outside of the agenda items of the Extraordinary General Meeting. No resolution will be adopted under this item.

Item 1
Mandatory Convertible Notes
Creation of Conditional Capital
Approval of Article 4a para. 4 of the Articles of Association

Broadcast on the Internet
The Extraordinary General Meeting will be broadcast on the Internet via www.ubs.com/egm.

The Extraordinary General Meeting of UBS AG will take place on Thursday, 27 November 2008 at 9:00 a.m. in the Messe Luzern AG, Halle 1, Horwerstrasse 87, Lucerne.

UBS names Philip Lofts Group Chief Risk Officer

2008-11-04T07:05:00.000+01:00

UBS today announced that Philip Lofts has been named Group Chief Risk Officer and a member of the Group Executive Board, effective immediately. Lofts replaces Joseph Scoby, who has decided to return to his former role as Global Head of Alternative and Quantitative Investments (A&Q) within UBS Global Asset Management.

Lofts most recently served as Deputy Group Chief Risk Officer and Group Risk Chief Operating Officer. A 20 year veteran of UBS, he was previously Group Chief Credit Officer and has held a variety of risk control positions in Europe, the US and Asia-Pacific.

Marcel Rohner, Group Chief Executive Officer said, "Philip's long history in risk control and deep knowledge of UBS make him extremely qualified to lead UBS's risk organization and continue to enhance our risk management, control and reporting frameworks and processes."

Scoby, who will step down from the Group Executive Board with immediate effect, has served as Group Chief Risk Officer since October 2007.

Rohner continued, "We are very grateful to Joe for his instrumental role in reducing our risk positions and increasing the transparency of our portfolio over the last 12 months. He has successfully led our risk control function through a period of exceptional market difficulty and created a new risk organization that will serve us well in the future."

UBS reports third quarter profit of CHF 296 million

2008-11-04T07:00:00.000+01:00

UBS further materially de-risks balance sheet through transaction with Swiss National Bank

2008-10-16T07:00:00.000+02:00

UBS to raise CHF 6 billion of new capital through mandatory convertible notes, fully placed with Swiss Confederation

The Swiss National Bank (SNB) and UBS have reached an agreement to transfer up to USD 60 billion of currently illiquid securities and other assets from UBS's balance sheet to a separate fund entity.

With this transaction, UBS caps future potential losses from these assets, secures their long-term funding, reduces its risk-weighted assets, and materially de-risks and reduces its balance sheet.

This transaction allows the SNB and shareholders of UBS to participate in the recovery potential of the entity's assets once the loan is fully repaid.

The solution significantly reduces the uncertainty for UBS shareholders and clients and contributes to the stability of the financial system by ensuring an orderly sale of these assets.

The fund will be capitalized with up to USD 6 billion of equity capital provided by UBS and a non-recourse loan in the maximum amount of USD 54 billion provided to the fund by the SNB. The entity will be controlled by the SNB. UBS will sell its equity interests to SNB for USD 1 and will have an option to repurchase the equity once the loan is fully repaid for a purchase price of USD 1 billion plus half of the equity value exceeding USD 1 billion.

To fund its equity contribution, and at the same time maintain its strong capital position, UBS can raise CHF 6 billion of new capital in the form of mandatory convertible notes (MCN). The MCN has been fully placed with the Swiss Confederation.

UBS announces repositioning of its Investment Bank

2008-10-03T07:00:00.000+02:00

Business model builds on core strengths and client franchises in the Securities and Advisory businesses, while downsizing or exiting certain businesses; recalibration to the market environment.

UBS today announces the repositioning of its Investment Bank following a detailed review of the strategy by the Chairman and CEO of the Investment Bank, Jerker Johansson, members of the Group Executive Committee and the UBS Board of Directors.

The Investment Bank will reprioritize its business portfolio to preserve its core strengths and client franchises across Equities, IBD and FICC, while downsizing or exiting certain business activities. This will lead to greater efficiencies and a further reduction in the Investment Bank's headcount and balance sheet.

"The ongoing crisis in the financial markets and dramatically changed industry dynamics require us to recalibrate our business. While the revenue outlook is uncertain, these measures will allow us to focus on our strengths, reduce the cost base to a more sustainable level and position our core businesses for growth once fundamentals improve," said Jerker Johansson, Chairman and CEO of UBS Investment Bank.

Strategic priorities

As part of the repositioning, UBS Investment Bank will take the following steps:

UBS AG Extraordinary General Meeting

2008-10-02T16:30:00.000+02:00

At the UBS Extraordinary General Meeting on 2 October 2008, shareholders elected Sally Bott, Rainer-Marc Frey, Bruno Gehrig and William G. Parrett to the Board of Directors. Election results indicated that Sally Bott, received 98.58 percent of the votes cast, Rainer-Marc Frey 98.74 percent, Bruno Gehrig 98.89 percent and William G. Parrett 98.62 percent.

The curriculum vitae of all board members are available at www.ubs.com/bod.

UBS shareholders also passed the new Corporate Governance statutes proposed on 1 July 2008, with 99.27 percent of votes cast.

2,372 shareholders attended the Extraordinary General Meeting, representing 942,070,054 votes.

UBS holds EGM: key messages from Chairman

2008-10-02T07:00:00.000+02:00

At the Extraordinary General Meeting in Basel today, UBS Chairman Peter Kurer will give a speech highlighting the following key messages:

UBS names Jeffrey Mayer Joint Global Head of Fixed Income, Currencies and Commodities

2008-09-25T17:15:00.000+02:00

UBS today announced the appointment of Jeffrey Mayer as Joint Global Head of the Fixed Income, Currencies and Commodities (FICC) business within its Investment Bank. With the recently announced Joint Global Head of FICC Carsten Kengeter, he will have responsibility for all fixed income products including credit fixed income, rates, structured products, emerging markets, foreign exchange, commodities, securitized products, client coverage and research.

Mayer, 49, will be based in New York and Stamford and report to Jerker Johansson, Chairman and Chief Executive Officer of UBS Investment Bank. Mayer will also join the Investment Bank Executive Committee and the UBS Group Managing Board.

"Jeff's experience leading a global fixed income operation, deep product knowledge and proven ability to manage risk will be a great asset to the business," said Johansson. "Given UBS's wide geographic footprint and the range of products within FICC, we are pleased to have both Jeff and Carsten on board leading the business."

A 19-year veteran of Bear Stearns, Mayer was most recently Global Co-Head of Fixed Income and a member of Bear Stearns Management Committee. Mayer was additionally a member of the Board of Directors of Bear Stearns and Co., Inc. Prior to becoming Co-Head of Fixed Income in 2002, he headed Bear Stearns' mortgage and asset-backed securities department. He began his career at Bear Stearns as a senior mortgage trader.

UBS says costs of closing out LEH exposures below $300m

2008-09-16T17:10:00.000+02:00

UBS is aware of a recent research report circulating in markets regarding its exposure to the Chapter 11 filing by Lehman Brothers. UBS confirms that its direct and counterparty exposures to Lehman Brothers, net of hedges, are now substantially closed out. UBS does not expect the total cost of closing out its exposures to Lehman Brothers to exceed $300m.

Agenda for the Extraordinary General Meeting of UBS AG on 2 October 2008

2008-09-09T07:00:00.000+02:00

The following items will be on the agenda of UBS AG's previously announced Extraordinary General Meeting, taking place on 2 October:

Status Report of the Board of Directors

Agenda Item 1

Elections of New Members of the Board of Directors

1.1. Sally Bott
1.2. Rainer-Marc Frey
1.3. Bruno Gehrig
1.4. William G. Parrett

Agenda Item 2

Amendments to the Articles of Association

Adjustment to the new UBS corporate governance effective as of 1 July 2008 (Title of Article 20, Articles 20 para. 1, 21 para. 2, 24 lit. e, 29 and 30 of the Articles of Association)

The Extraordinary General Meeting of UBS AG will take place on Thursday, 2 October 2008 at 10:30 a.m. in the St. Jakobshalle in Basel.

www.ubs.com/shareholder-meeting

UBS Names Carsten Kengeter Global Head of Fixed Income, Currencies and Commodities

2008-09-04T19:00:00.000+02:00

UBS today announced the appointment of Carsten Kengeter as Global Head of the Fixed Income, Currencies and Commodities (FICC) business within its Investment Bank. Kengeter will join UBS from Goldman Sachs and will relocate from Hong Kong to London in his new role. He will report to Jerker Johansson, Chairman and CEO of UBS Investment Bank, and will join the Investment Bank Executive Committee and the UBS Group Managing Board.

Kengeter, 41, will be responsible for all fixed income products including credit fixed income, rates, structured products, emerging markets, securitized products as well as client coverage and research. He will also have responsibility for UBS Investment Bank's market-leading foreign exchange business and the global commodities group. When he joins the firm in the early part of 2009, Kengeter will assume the leadership of FICC from Johansson, who will continue to manage the business on an interim basis until then.

"Carsten is a high-caliber leader who brings broad geographic and product expertise to the firm as well as a depth of experience and skill set which greatly complements our FICC management team," said Johansson. "We will continue to build on our bench of senior talent as we move towards our goal of strengthening our fixed income business and getting all our FICC businesses back on the road to profitability and competitiveness."

Kengeter has most recently been a Partner and Co-Head of Goldman Sachs' Securities Division for Asia ex-Japan, with responsibility for all FICC products. He joined Goldman Sachs in 1997 and has held several senior positions within the Securities Division including Head of FICC for the German region and Co-Head of European FICC Distribution. Previously, Kengeter worked at Barclays de Zoete Wedd as a credit derivatives trader and structurer.

"We have already taken significant steps to streamline the business and this hire underscores our commitment to focusing on core client-centric product offerings," added Johansson. "I am confident that under this new leadership FICC will be best positioned to thrive in an evolving market and we will continue to offer our clients the best service and solutions."

Kengeter served on the board of Goldman Sachs International Bank as well as a broad number of the firm's Asian boards and committees. He holds a Diplom-Betriebswirt from FH Reutlingen, a B.A. (hons) in Business Administration from Middlesex University as well as a MSc in Finance and Accounting from the London School of Economics.

Media Contacts:

London: Dominik Von Arx, +44 207 56 82439
New York: Rohini Pragasam, +1 212 882 5690

UBS appoints new Chief Communication Officer

2008-08-22T11:30:00.000+02:00

UBS appoints Michael Willi Chief Communication Officer. In his new role Michael Willi will report to the Group CEO and bear global responsibility for UBS corporate and brand communications. He will head up the areas of Communications Management, Media Relations, Internal Communications and Brand Management. Financial communications will now be part of the Group Chief Financial Officer function. Michael Willi succeeds Tom Hill, who will take over responsibility for Group Strategic Advisory and Financial Communications, reporting to the Group CFO.

Michael Willi is an economist who began working at Swiss Bank Corporation in 1992. Since then he has served in various executive functions within UBS corporate communications. Most recently he headed the worldwide Corporate Communications Management Organization out of New York, USA.

UBS reports second quarter loss of CHF 358 million

2008-08-12T07:00:00.000+02:00

UBS announces repositioning of the Bank to allow maximum strategic flexibility in its future development

2008-08-12T07:00:00.000+02:00

UBS will separate its business divisions into three autonomous units and vest them with increased operational authority and accountability.

UBS announces Board of Directors nominations and appointments to the Group Executive Board

2008-08-12T07:00:00.000+02:00

Sally Bott, Rainer-Marc Frey, Bruno Gehrig and William G. Parrett proposed as candidates for election to the Board of Directors of UBS AG at the EGM of 2 October 2008.

UBS announces comprehensive settlement, in principle, for all clients holding auction rate securities at the estimated cost of USD 900 million

2008-08-08T19:30:00.000+02:00

UBS announced today a settlement, in principle, with the New York Attorney General (NYAG), the Massachusetts Securities Division, the Securities and Exchange Commission (SEC) and other state regulatory agencies represented by North American Securities Administrators Association (NASAA) to restore liquidity to all remaining clients' holdings of auction rate securities (ARS).

Under the agreement in principle, UBS has committed to purchase a total of USD 8.3 billion of ARS, at par, from most private clients during a two-year time period beginning January 1, 2009. Private clients and charities holding less than USD 1 million in household assets at UBS will be able to avail themselves of this relief beginning Oct. 31, 2008. From mid-September, UBS will provide loans at no cost to the client for the par value of their ARS holdings.

In addition, UBS has also committed to provide liquidity solutions to institutional investors and will agree from June 2010 to purchase all or any of the remaining USD 10.3.billion, at par, from its institutional clients. Today's news is in addition to the firm's recently announced intention to repurchase USD 3.5 billion of tax-exempt Auction Preferred Stock.

"Today's solution provides further relief, beginning in September, to investors who have been understandably frustrated by the industry-wide failure of the ARS market. Our leading position in supporting the market and providing liquidity is clear, and now, we are the first firm to give all clients -- private, corporate and institutional the opportunity to be made whole," said Marten Hoekstra, Head of UBS Wealth Management Americas.

"Since the breakdown in the market, UBS clients have been offered multiple liquidity options. They have been able to borrow 100 percent against the value of their holdings. The solutions announced today provide our clients with the widest range of choices in the industry, including a two-year window during which clients can either continue to earn interest or redeem their ARS at any time," Hoekstra added.

The firm has also agreed to pay a fine of USD 150 million - USD 75 million to the state of New York and USD 75 million to other state regulatory agencies. UBS neither admits nor denies allegations of wrongdoing.

The full cost of the proposed settlement, taking into account the projected redemption patterns of clients, the difference between the purchase prices and the current market value of client ARS holdings, and the regulatory fine related to the settlements, is estimated to be in the range of USD 900 million on a pre-tax basis, to be booked in the second quarter results. This includes reimbursements to all clients for losses incurred from sales of ARS holdings between Feb. 13 and Aug. 8, 2008.

A provision for the costs of this settlement will be included in the firm's second quarter financial results, which will be announced on Aug.12, 2008.

Results, including this settlement, for UBS AG for the second quarter will be consistent with guidance given by the firm on July 4, 2008.

UBS statement of Mark Branson before the permanent Subcommittee of Investigation

2008-07-17T00:00:00.000+02:00

UBS representative Mark Branson, Chief Financial Officer of Global Wealth Management & Business Banking, today testified at a US Senate Subcommittee hearing. The title of the hearing was "Tax Haven Banks and US Tax Compliance".

UBS is developing a structure to offer to repurchase from UBS clients auction preferred stock issued by tax-exempt closed-end funds

2008-07-15T08:58:00.000+02:00

UBS today announced it is actively developing a structure that would offer to purchase any and all auction preferred stock issued by registered closed-end tax-exempt funds and held by eligible UBS advisory and brokerage clients in their UBS accounts. If this structure is implemented and the offer is consummated, UBS clients who accept the offer will receive cash in an amount equal to the liquidation preference of their auction preferred stock plus any accrued and unpaid dividends (which is the amount they would receive if auctions for these securities were clearing). Implementation will be subject to a number of transactional structuring factors, including compliance with all applicable legal requirements. In order to be eligible for this offer, the auction preferred stock must have been held in the client's UBS account on July 15, 2008.

UBS significantly expands Middle East operations to accelerate growth.

2008-07-07T10:00:00.000+02:00

• UBS to set up operations in the Kingdom of Saudi Arabia. • UBS selects CEO for UBS Saudi Arabia. • UBS applies for license to operate in Qatar. • UBS expands Investment Banking Division & Equity Research coverage in the region.

UBS announces estimated results for second quarter

2008-07-04T07:00:00.000+02:00

UBS announces that its results for the second quarter ended June 30, 2008, which will be released as planned on August 12, are likely to be at or slightly below break-even.

UBS establishes new Corporate Governance and calls an Extraordinary General Meeting to elect four new members to the Board of Directors

2008-07-01T07:00:00.000+02:00

• New Corporate Governance guidelines to come in to force immediately

• Stephan Haeringer, Rolf Meyer, Peter Spuhler and Lawrence Weinbach to resign in October 2008

• Extraordinary General Meeting (EGM) scheduled for 2 October 2008

• Nominations of the new Board members to be announced in good time before the EGM

• Sergio Marchionne to become Senior Independent Director and to continue as non-executive Vice Chairman

UBS to enter Dutch wealth management market together with VermogensGroep

2008-06-24T07:00:00.000+02:00

UBS announces today that it has signed an agreement with VermogensGroep, an independent Dutch Wealth Manager, to acquire VermogensGroep. This joining of forces will create one of the premier Wealth Management firms in the Netherlands. Closing of the transaction remains subject to regulatory approval.

Settlement between Parmalat and UBS

2008-06-13T20:30:00.000+02:00

UBS confirms the settlement today of all actions filed by companies of the Parmalat Group in Extraordinary Administration and by Parmalat S.p.A. against UBS Limited and UBS AG on the terms announced in the media release issued by Parmalat S.p.A. UBS has committed to pay a total of approximately EUR 150 million for the claw back claim and EUR 35 million for the damages claims to Parmalat S.p.A. and the Extraordinary Commissioner pursuant to the terms of the settlement.

UBS AG successfully completes its rights offering

2008-06-13T07:00:00.000+02:00

UBS AG has successfully completed its CHF 15.97 billion rights offering, which was approved by its shareholders at the Annual General Meeting on 23 April 2008.

UBS AG announces final terms of the announced rights issue

2008-05-22T07:00:00.000+02:00

The Board of Directors of UBS AG has determined the final terms of the public offering of 760,295,181 new shares, which will be subject to the subscription rights of existing shareholders (the "rights issue"). The rights issue was fully underwritten by a syndicate of banks on 1 April 2008 and the related capital increase was authorized by the shareholders of UBS AG on 23 April 2008. Shareholders will be allotted one subscription right for each existing share held. The exercise of 20 subscription rights will entitle the holder to subscribe for 7 new shares at a subscription price of CHF 21.00 per new share.

UBS Completes the Sale of USD $15 Billion of U.S. Real Estate Related Assets to BlackRock

2008-05-21T07:00:00.000+02:00

UBS has continued its commitment to Asian golf, announcing contract extensions for its two flagship tournaments that will take partnerships in key markets Hong Kong and Japan into 2009.

UBS Announces Senior Management Changes in UBS Investment Bank and Strengthens the Risk Control Function

2008-05-14T18:00:00.000+02:00

UBS today announced a number of management changes within UBS Investment Bank (IB) and organizational changes to the Group Risk Control function.

UBS reports first quarter loss of CHF 11,535 million, in line with 1 April 2008 pre-announcement

2008-05-06T07:00:00.000+02:00

Annual General Meeting of UBS AG

2008-04-23T18:45:00.000+02:00

At the Annual General Meeting on 23 April 2008, the shareholders of UBS AG approved the capital increase of CHF 15 billion proposed by the Board of Directors. Peter Kurer and David Sidwell were elected to the Board of Directors while board members Peter Voser and Lawrence A. Weinbach were re-elected to the Board. Effective immediately, Peter Kurer is full-time Chairman of the Board of Directors, as was planned in the event of his election. In addition, shareholders reduced the term of office of the members of the Board of Directors from three years to one year. 4,211 shareholders attended the Annual General Meeting, representing 680,142,555 votes.

UBS Issues Shareholder Report on Write-downs

2008-04-21T07:00:00.000+02:00

UBS announced today that it has issued a Shareholder Report detailing the key facts relating to the firm's positions and losses in the U.S. subprime residential mortgage sector through December 31, 2007. This Report, which provides an overview of a report which was submitted earlier to the Swiss Federal Banking Commission (EBK), is available on UBS' website at www.ubs.com/agm.

Amongst other things, the Report summarizes: which businesses were affected by the losses; the business models and growth initiatives pursued in those businesses; how the losses developed in the relevant businesses; the implementation of Risk Management and Risk Control in those businesses; and the key findings related to the causes of the losses.

The Report identifies (and considers the causes of) the losses as originating principally from positions held within three businesses: the (now closed) internal alternative asset management arm, Dillon Read Capital Management (DRCM); the Investment Bank's (IB) Rates business (CDO Warehouse and CDO Super Senior Positions held on the CDO Desk); and the ABS Trading Portfolio managed by the IB's Foreign Exchange/Cash Collateral Trading (FX/CCT) division.

The report filed with the EBK was prepared by UBS's Group General Counsel and Group Internal Audit. They were assisted by U.S. law firm Sullivan and Cromwell LLP, Swiss law firm Homburger AG and PricewaterhouseCoopers.

KPMG Ltd, Zurich, has read the Shareholder Report and the Report to the EBK and determined that, in their professional judgement, the Shareholder Report contains a reasonable summary of the information that UBS included in their report to the EBK.

Board of Directors of UBS AG determines exchange ratio for stock dividend

2008-04-16T07:00:00.000+02:00

The Board of Directors of UBS AG has determined an exchange ratio of 20:1 for the stock dividend. Every registered share of UBS AG will be allocated one tradable entitlement. Twenty entitlements will enable the holder to acquire one new registered share of UBS AG for free.

Pre-announcement of first quarter 2008 estimated net loss of approximately CHF 12 billion

2008-04-01T07:00:00.000+02:00

Fully underwritten rights issue of approximately CHF 15 billion to strengthen Tier 1 capital Creation of separate unit to manage selected US real estate related positions Marcel Ospel not to seek re-election at Annual General Meeting, to be succeeded as Chairman by Peter Kurer (separate media release)

Marcel Ospel will not be standing for re-election to the Board of Directors of UBS.

2008-04-01T07:00:00.000+02:00

Peter Kurer is nominated for election to the Board and is proposed as Chairman.

UBS publishes 2007 annual report

2008-03-18T07:00:00.000+01:00

UBS is today publishing its latest annual report - a set of four themed reports providing comprehensive information on UBS, its business, governance and financial performance. The report is available at www.ubs.com/annualreporting.

UBS proposes David Sidwell for election to Board of Directors

2008-03-13T07:00:00.000+01:00

At its Annual General Meeting on 23 April 2008 the UBS Board of Directors will propose David Sidwell for election to the board as a non-executive member.

David Sidwell, born in 1953, retired as Chief Financial Officer and a member of the management committee at Morgan Stanley at the end of 2007.

In this role he led a finance function of 3,000 professionals and played a central role in Morgan Stanley's efforts to improve its risk-taking and capital allocation through his performance evaluation of its businesses. He also devised and ensured the approval and execution of the strategic plan for acquisitions, divestitures and growth areas.

Marcel Ospel, the Chairman of the Board of UBS commented: "David Sidwell has an extensive background in the areas of risk management, financial control as well as strong relationships with key regulatory bodies globally. He is a keen strategist and possesses broad insights and perspectives across all banking operations. This extensive banking expertise will only further strengthen our board. I'm pleased that he is willing to stand for election."

After the merger of JP Morgan with Chase, and until he left the firm in March 2004, he was Chief Financial Officer of the Investment Bank. His responsibilities included strategic analysis and planning and the implementation of the risk management process as well as financial control.

UBS and Bloomberg launch the CMCI Food Index

2008-03-05T09:00:00.000+01:00

UBS AG and Bloomberg Finance L.P. are pleased to announce the launch of the UBS Bloomberg CMCI Food Index, a unique investment tool offering direct exposure to the food sector.

The UBS Bloomberg CMCI Food Index is available in US dollars, Euros and Swiss Francs and covers 13 commodities directly linked to food consumption including wheat, corn, soybeans, sugar and livestock. Each commodity in the Index is diversified across a range of different investment maturities and uses the same methodology as the UBS Bloomberg Constant Maturity Commodity Index (CMCI) which addresses common investor concerns such as volatility and roll yield. The UBS Bloomberg CMCI Index will serve as the underlying for a variety of investment products, such as exchange-traded funds (ETFs), structured products and investment funds. The new Index is available to Bloomberg users via the function CMCX ‹GO› on the BLOOMBERG PROFESSIONAL® service.

Morgan Metters, head of Commodity Index Structuring at UBS said: "Food prices have seen the biggest annual increase in several decades, contributing to high inflation rates in many economies, most notably China. Farm commodity prices have rallied significantly due to the growing prosperity of many developing nations as well as through increased demand from the expanding biofuel industry. In addition, recent climate effects and limitations in water and arable land have kept supply constrained. With a structural trend now developing in the market, this situation has spurred a huge interest from investors." He added: "Awareness of the link between commodity prices and inflation has increased significantly over the last six months, due mostly to the rise in food prices. The UBS Bloomberg CMCI Food Index was developed in response to a growing demand from investors looking to hedge against this price inflation as well as from those looking to buy food related commodities for diversification purposes."

Extraordinary General Meeting of UBS AG

2008-02-27T19:00:00.000+01:00

At the Extraordinary General Meeting on 27 February 2008, the shareholders of UBS AG approved the proposal by the Board of Directors to create conditional share capital for the issuance of mandatory convertible notes. They also approved the Board of Directors' proposal to replace the cash dividend with a stock dividend. The special audit proposed by Ethos and Pictet Funds S.A. into UBS AG's exposure to the US mortgage market failed to gain an absolute majority. 6,454 shareholders attended the Extraordinary General Meeting, representing 710,145,376 votes.

New term of office regulation and appointments in the Board of Directors of UBS

2008-02-21T07:00:00.000+01:00

The Board of Directors of UBS will propose to the Annual General Meeting that the terms of office of Board members be reduced to one year. Marcel Ospel, Peter Voser and Larry Weinbach will be proposed for re-election for a one-year term. Sergio Marchionne is appointed non-executive Vice Chairman of the Board of Directors. Peter Voser will take over as Chairman of the Audit Committee from Larry Weinbach.

UBS reports full-year 2007 loss of CHF 4,384 million and fourth quarter loss of CHF 12,451 million, in line with announcement on 30 Jan. 2008

2008-02-14T07:00:00.000+01:00

UBS Appoints Jerker Johansson as Chairman and Chief Executive Officer of the Investment Bank

2008-02-13T07:00:00.000+01:00

To strengthen the management structure of the firm, UBS announces three appointments to the Group Executive Board (GEB): Robert Wolf, Chairman and CEO, UBS Group Americas and President and Chief Operating Officer, Investment Bank; Alexander Wilmot-Sitwell, Joint Global Head, Investment Banking Department, UBS Investment Bank and Marten Hoekstra, Head of Wealth Management, Americas.

UBS completes acquisition of Caisse Centrale de Réescompte Group

2008-02-04T07:00:00.000+01:00

UBS announced today that it has received regulatory approval to complete the acquisition of the Caisse Centrale de Réescompte Group from Commerzbank AG in France.

Agenda for the Extraordinary General Meeting of UBS AG on 27 February 2008

2008-02-01T07:00:00.000+01:00

UBS AG sent the agenda for the Extraordinary General Meeting on 27 February 2008 to its shareholders on 31 January 2008.

UBS pre-announces full-year and fourth quarter 2007 results

2008-01-30T07:00:00.000+01:00

UBS will report a net loss attributable to shareholders of approximately CHF 4.4 billion for full-year 2007.

Extraordinary General Meeting of UBS on 27 February 2008

2007-12-27T07:00:00.000+01:00

The Extraordinary General Meeting which UBS announced on 10 December 2007 will take place on 27 February 2008, beginning at 10:00 a.m., in the St. Jakobshalle in Basel.

UBS shareholders will receive further information and the agenda items in January 2008.

UBS strengthens capital base and adjusts valuations

2007-12-10T07:00:00.000+01:00

UBS has introduced measures to substantially strengthen its capital position, adding CHF 19.4 billion of BIS Tier 1 capital. These include an issue of CHF 13 billion of new capital. This has been placed with two strategic investors: Government of Singapore Investment Corporation Pte. Ltd. (GIC), with CHF 11 billion, and an undisclosed strategic investor in the Middle East with CHF 2 billion. At the same time, UBS has revised key input parameters of the models that are used to estimate lifetime default and resulting losses for sub-prime mortgage pools. As a result of these revisions, UBS will write down its US sub-prime holdings by approximately a further USD 10 billion. After these actions, UBS projects a strong BIS Tier 1 ratio of above 12%.

UBS broadens its management structure within its international wealth management business

2007-11-07T07:00:00.000+01:00

As a result of the strong growth of its international wealth management business, UBS is broadening its management structure. This allows UBS to further strengthen its presence in local markets and its proximity to clients.

UBS exposure to subprime market (Q3 2007)

2007-10-30T07:00:00.000+01:00

Supporting this initiative underlines UBS's commitment to the arts in Singapore and Asia Pacific and further enhances the firm's partnerships globally with orchestral music.

UBS re-confirms Group third quarter pre-tax loss in line with CHF 600 - 800 million range given on 1 October 2007

2007-10-29T07:00:00.000+01:00

UBS confirms the expected pre-tax loss and gives a business outlook for the fourth quarter.

UBS to acquire Caisse Centrale de Réescompte Group

2007-10-24T07:00:00.000+02:00

UBS announced today that it has agreed to acquire 100% of the Caisse Centrale de Réescompte Group from Commerzbank for a total consideration of approximately EUR 435 million. The transaction is expected to close in the first quarter of 2008, subject to regulatory approvals.

UBS reports second quarter result of CHF 5,622 million

2007-08-14T07:00:00.000+02:00

- Net profit attributable to UBS shareholders of CHF 5,622 million, up 79% from the same period a year earlier and 72% higher than first quarter 2007. -This includes a CHF 1,926 million post-tax gain from the sale of the 20.7% stake in Julius Baer and a charge of CHF 229 million after tax related to the closure of Dillon Read Capital Management (DRCM) - Including these two items, attributable profit from the financial businesses from continuing operations was CHF 5,152 million, with return on equity at 33.0%, diluted EPS of CHF 2.69, and a cost/income ratio of 62.0% - Excluding these two items, attributable profit from the financial businesses from continuing operations would have been CHF 3,455 million, up 14% from the same period a year earlier and 9% higher than the record first quarter 2007 performance - Excluding the same items, diluted EPS from continuing operations was CHF 1.84, return on equity 29.8% and the cost/income ratio 68.0% - Net new money inflows in second quarter 2007 remained strong. In the wealth management units, inflows totaled CHF 35.2 billion, with strong contributions from all regions

UBS appoints Andre Esteves Global Head of Fixed Income

2007-08-03T14:15:00.000+02:00

UBS announced today that Andre Esteves has been appointed Global Head of Fixed Income for UBS Investment Bank. Esteves, most recently Chairman and CEO of the firm's Latin American business, UBS Pactual, will relocate from Brazil to London. In his new role, he will be responsible for overseeing the full suite of fixed income products across all regions. Esteves will continue to report to Huw Jenkins, Chairman and CEO of UBS Investment Bank. Esteves is a member of the UBS Group Managing Board.

Marcel Rohner appointed Group CEO, effective immediately

2007-07-06T01:10:00.000+02:00

The Board of Directors has appointed Marcel Rohner as UBS's Group Chief Executive Officer, effective today. He succeeds Peter Wuffli, who relinquishes all of his functions at UBS. Raoul Weil will succeed Marcel Rohner as Chairman and CEO of Global Wealth Management & Business Banking. Marcel Ospel will be nominated for another term as Chairman of the Board of Directors once his current term expires.

UBS successfully sells its 20.7% stake in Julius Baer

2007-06-22T16:19:00.000+02:00

UBS AG announced today that it has successfully placed a 15.23% stake in Julius Baer Holding AG, representing a total of 33,991,870 Julius Baer shares, at CHF 84 per share. The shares were offered to institutional investors in an accelerated bookbuilding transaction launched yesterday and met strong demand from high quality institutional investors in Europe and the US.

Yesterday, UBS agreed to sell a 5.47% stake in Julius Baer, representing 12,222,222 shares, to Julius Baer at a price of CHF 90 per share.

The pre-tax capital gain on the sale will be approximately CHF 2.0 billion. Gains from the sale will be used to buy back shares in the coming months as part of the 2007/2010 share repurchase program announced on 8 March 2007.

UBS disposes of its 20.7% Julius Baer stake by launching an accelerated bookbuilding transaction for a 15.23% stake and selling the remaining 5.47% to Julius Baer

2007-06-22T16:05:00.000+02:00

UBS AG announced today that it has launched an accelerated bookbuilding transaction to institutional investors for the sale of 33,991,870 Julius Baer shares representing 15.23% of the company.

At the same time, UBS AG has agreed to sell the remaining 12,222,222 Julius Baer shares, representing a further 5.47% of the company, to Julius Baer Holding AG for a price of CHF 90 per share conditional upon a successful completion of the accelerated bookbuilding transaction.

UBS received the Julius Baer shares as part of the consideration in connection with the sale of its private label banks and specialist asset manager GAM to Julius Baer in December 2005. UBS had agreed to a lock-up period of 18 months which expired on 25 May 2007.

UBS reaches settlement on litigation with Enron Creditors Recovery Corp.

2007-06-06T18:00:00.000+02:00

UBS announced today that it has entered into an agreement with Enron Creditors Recovery Corp. (formerly Enron Corp.) to settle litigation that Enron commenced against UBS in 2003 related to equity derivative contract payments that Enron sought to recover from UBS. UBS is settling this litigation without any admission of liability.

UBS's Julius Baer stake lock-up agreement to end today

2007-05-25T07:00:00.000+02:00

UBS's lock-up agreement related to its Julius Baer stake expires at the end of today.

UBS Global Asset Management purchases 51% of Daehan Investment Trust Management Company

2007-05-11T07:00:00.000+02:00

UBS Global Asset Management has entered into a stock purchase agreement with Daehan Investment & Securities Company Ltd (DI&S) to acquire 51% of Daehan Investment Trust Management Company Ltd (DIMCO), one of Korea's largest asset management companies. Under the joint venture, DIMCO will be known as UBS Hana Asset Management Company Ltd (UBS Hana Asset Management) internationally, and as Hana UBS Asset Management in Korean. The transaction remains subject to regulatory approval.

UBS announces reintegration of Dillon Read Capital Management Portfolios into the Investment Bank. Outside investor funds to be redeemed

2007-05-03T07:00:00.000+02:00

- Net profit attributable to UBS shareholders of CHF 3,275 million, down CHF 229 million from the same period a year earlier (first quarter 2006 included a CHF 290 million after-tax gain from sale of Motor-Columbus) - Financial businesses attributable profit from continuing operations of CHF 3,182 million, a new record and up 4% from both first and fourth quarter 2006 - Total UBS net new money was at an all-time high of CHF 52.8 billion, with CHF 44.8 billion inflow from wealth management businesses worldwide - Diluted EPS from continuing operations of CHF 1.62, up 9% from a year earlier, cost/income ratio of 68.1%, down 0.3 percentage points from first quarter 2006 - Return on equity of 28.7%, down from 29.6% a year earlier, still well above UBS's target of a 20% minimum over the cycle - All business groups reported record profits in first quarter

UBS to report First Quarter 2007 Results on May 3rd

2007-04-26T10:03:00.000+02:00

The results will be presented on Thursday, 3 May, by Clive Standish, Chief Financial Officer, and Tom Hill, Chief Communication Officer.

Annual General Meeting of UBS AG

2007-04-18T14:15:00.000+02:00

At the Annual General Meeting held on April 18, 2007, the shareholders of UBS approved the dividend of CHF 2.20 per share proposed by the Board of Directors. They also elected a new member - Sergio Marchionne - to the Board of Directors and re-elected Stephan Haeringer, Helmut Panke and Peter Spuhler to their respective offices for another three years. UBS shareholders approved the creation of conditional capital. The Annual General Meeting was attended by 2536 shareholders, representing 566,990,810 votes.

UBS publishes 2006 annual reports

2007-03-21T10:00:00.000+01:00

UBS is today publishing its latest set of annual reports -- the Annual Review 2006, the Handbook 2006/2007 and the Financial Report 2006. Together, they provide comprehensive information on UBS, its business, governance and financial performance.

UBS proposes Sergio Marchionne for election to the Board of Directors

2007-03-21T07:00:00.000+01:00

At its Annual General Meeting on 18 April 2007 the UBS Board of Directors will propose Sergio Marchionne for election to the board as a non-executive member and three current members for re-election.

Sergio Marchionne, born in 1952, is Chief Executive Officer of Fiat S.p.A., Turin, as well as Fiat Group Automobiles.

Marcel Ospel, the Chairman of the Board of UBS, commented: "Sergio Marchionne has gained extensive leadership experience in a number of globally-active companies covering different industries. I am extremely happy that he is willing to stand for election to our board."

Sergio Marchionne earned his MBA at the University of Windsor, Canada, and his law degree at Osgoode Hall Law School in Toronto, Canada, and is a lawyer and chartered accountant. He is a citizen of both Italy and Canada.

The Board of Directors will also ask the AGM to re-elect Stephan Haeringer, Helmut Panke and Peter Spuhler to the board, as their terms of office will expire in 2007. After having served for six years on the Board of Directors of UBS, Sir Peter Davis' term will expire at the 2007 AGM. As he has reached the statutory age limit, he will not stand for re-election.

After the 2007 AGM, the Board of Directors should again have 12 members, which is the maximum number permitted by the UBS Articles of Association.

UBS reports 2006 result of CHF 12,257 million and fourth quarter result of CHF 3,407 million

2007-02-13T07:00:00.000+01:00

Full-year 2006 - Net profit attributable to UBS shareholders of CHF 12,257 million, with CHF 11,491 million from continuing operations and CHF 766 million from discontinued operations - Financial businesses' attributable profit from continuing operations at a record CHF 11,249 million, up 19% from 2005 - Total UBS net new money at a record CHF 151.7 billion, with CHF 113.3 billion from wealth management businesses worldwide Fourth quarter 2006 - Fourth quarter attributable profit from continuing operations of CHF 3,145 million, up 19% from the same period a year earlier, with financial businesses contributing CHF 3,055 million, up 18% year-on-year - Total UBS net new money a strong CHF 25.5 billion, with CHF 21.7 billion inflow from wealth management businesses worldwide - Fourth quarter diluted EPS from continuing operations of CHF 1.54, up 20% from a year earlier. Cost/income ratio of 70.6%, down 0.3% from fourth quarter 2005 Dividend, share buyback - Proposed dividend payout of CHF 2.20 a share, up from CHF 1.60 a year earlier (adjusted for last year's 2-for-1 split and excluding the one-time par value repayment for the sale of Private Banks & GAM) - New three-year second line repurchase program with a maximum limit of 10% of shares issued, representing approximately CHF 16 billion at current share price level

UBS Completes Acquisition of McDonald Investments Private Client Branch Network

2007-02-09T22:00:00.000+01:00

UBS announced today that it has completed the acquisition of the branch network of McDonald Investments, a unit of KeyCorp. The transaction was announced on September 6, 2006.

UBS to report Fourth Quarter 2006 Results on February 13th

2007-02-06T21:30:00.000+01:00

The results will be presented on Tuesday, 13 February by Peter Wuffli, Chief Executive Officer, Clive Standish, Chief Financial Officer, and Tom Hill, Chief Communication Officer.

UBS and Bloomberg launch global commodity index family

2007-01-29T10:00:00.000+01:00

Commodity index investment now expands beyond short-term futures contracts

UBS acquires Standard Chartered's mutual funds management business in India

2007-01-26T07:15:00.000+01:00

UBS's commitment to India was further underlined when UBS Global Asset Management today announced that it has agreed to acquire Standard Chartered's mutual funds management business in India for a total consideration of CHF 147 million.

UBS Granted Mexican Banking License

2007-01-08T16:45:00.000+01:00

UBS announced today that it has received approval from the Ministry of Finance to offer banking services in Mexico. The firm plans to begin operations in the first quarter of 2007.

Initially, UBS will offer cash, foreign exchange and debt products to institutional investors in Mexico. Additional products and services may be offered in the future, both to institutional as well as individual clients.

"This license represents a significant step for UBS. Having operations in Mexico and serving clientele here is an integral component of UBS's expansion into Latin America, and we are excited and optimistic about the future of UBS in this country," said Andre Esteves, chairman and chief executive of UBS Latin America.

Statement from UBS Regarding Complaint Filed by New York State Attorney General

2006-12-12T13:45:00.000+01:00

UBS confirmed today the New York State Attorney General (NYAG) has filed a complaint regarding InsightOne, the firm's fee-based brokerage program for private clients in the United States.

UBS categorically denies that the program was part of a scheme to disadvantage clients, and intends to defend itself vigorously in this matter. We are disappointed that the NYAG did not review or consider relevant data that supports the firm's position prior to filing the complaint.

UBS is committed to clients' individual needs. The InsightOne program was designed to satisfy those clients who sought alternatives to the industry's traditional commission-based accounts. Fee-based brokerage, in which clients pay a fee for trading activity rather than commissions on a per trade basis, offers investors greater choice as well as a way to closely align the interests of financial advisors and clients with respect to growing the value of the brokerage account. While InsightOne is not a discount program, since the program's inception in 1999 UBS clients have saved hundreds of millions of dollars, in aggregate, over what they would have paid in full commissions.

Fee-based brokerage programs are offered by most large broker-dealers. In 2005, U.S. investors had more than USD 268 billion in fee-based programs industry-wide. At UBS, InsightOne accounts constitute approximately 3.5 percent of the firm's U.S. brokerage accounts.

UBS disclosed in its third-quarter financial report the possibility of this civil litigation.

UBS Completes Acquisition of Banco Pactual S.A.

2006-12-04T11:00:00.000+01:00

UBS announced today that it has completed its acquisition of Banco Pactual S.A, having received all necessary approvals to finalize the transaction.

Huw Jenkins at the Merrill Lynch Banking & Financial Services Conference

2006-11-15T15:50:00.000+01:00

The Merrill Lynch Conference is taking place on November 14 - 16, 2006 at the The Pierre Hotel in New York City.

UBS announces departure of Mark Sutton

2006-11-09T15:00:00.000+01:00

UBS announced today that Mark Sutton, Member of the Group Executive Board and Chairman and CEO Americas, has decided to step down from his role in order to pursue a range of other business opportunities and personal interests. He will remain with the firm until the end of 2006.

Robert Wolf has been appointed as Chairman and CEO of UBS Americas. Robert Wolf has previously been Chairman of UBS Investment Bank, Americas and Global Chief Operating Officer of UBS Investment Bank. Robert Wolf will continue to retain the role of Chief Operating Officer of the Investment Bank. He will report to Huw Jenkins, Chairman and CEO of UBS Investment Bank, who will assume regional responsibility for the Americas in the UBS Group Executive Board.

Mark Sutton, 52, has been with UBS and its predecessor firms since 1980. He has held his current position since 2005. Previously, he was Chairman and Chief Executive Officer of Wealth Management US.

"Mark has made significant contributions to UBS. First, in leading our US wealth management business and, more recently, by further aligning our businesses in the United States. We respect his decision to move on and wish him all the best in his future endeavors," said Peter Wuffli, Group Chief Executive Officer of UBS.

UBS reports third quarter 2006 result of CHF 2,199 million

2006-10-31T07:00:00.000+01:00

- Net profit attributable to UBS shareholders of CHF 2,199 million, down 21% from a year earlier. Net profit from continuing operations was down 15% - Financial businesses contributed CHF 2,114 million to attributable profit from continuing operations, down 16% from the same period a year earlier - Diluted EPS of CHF 1.07 in third quarter 2006, down 13%, or CHF 0.16 from CHF 1.23 a year earlier. Annualized ROE at 25.8% in first nine months of 2006, well above UBS's target of 20% minimum over the cycle - Overall net new money at very healthy CHF 41.9 billion in third quarter, with CHF 26.8 billion inflow from wealth management businesses worldwide - Financial businesses contributed CHF 8,194 million to attributable profit (from continuing operations) in nine months to September, up 20% from CHF 6,845 million a year earlier

UBS reports second quarter 2006 result of CHF 3,147 million

2006-08-15T07:00:00.000+02:00

- Net profit attributable to UBS shareholders of CHF 3,147 million, up 47% from a year earlier-Attributable profit from continuing operations of CHF 3,088 million in second quarter, up 49% from a year earlier-Financial businesses contributed CHF 3,032 million to attributable profit, up 51% from the same period a year earlier (from continuing operations) - just 0.5% short of the record achieved in first quarter 2006 -Diluted EPS of CHF 1.48 in second quarter 2006 was up 51% or CHF 0.50 from CHF 0.98 a year earlier. Annualized ROE reached 29.6% in first half 2006-Overall new money was healthy at CHF 36.3 billion in second quarter, with CHF 31.2 billion inflow from wealth management businesses worldwideIn first half 2006, attributable profit from financial businesses was CHF 6,080 million, up 34% from CHF 4,538 million in the same period a year earlier

UBS Announces Management Appointments Following Acquisition of Banco Pactual S.A.

2006-05-15T00:00:00.000+02:00

UBS today announced management leadership for its Latin American operations and a new Global Head Products & Services for Global Wealth Management & Business Banking (Global WM&BB) as a result of the acquisition of Banco Pactual S.A., which is expected to close in the third quarter of this year.

UBS reports first quarter 2006 result of CHF 3,504 million

2006-05-04T07:00:00.000+02:00

Annual General Meeting of UBS AG

2006-04-19T20:00:00.000+02:00

UBS and Sumitomo Corporation agree on settlement of outstanding litigation relating to copper-related transactions

2006-04-07T08:00:00.000+02:00

On 7th April, UBS AG reached agreement with Sumitomo Corporation to settle the litigation brought by Sumitomo Corporation in 1999 in relation to certain copper-linked transactions in which the former UBS had participated from 1995 to 1996.

Under the settlement, with no admission of wrongdoing, UBS has agreed to pay Sumitomo Corporation JPY10 billion (~USD86 million at the current JPY/USD exchange rate of 117). With the agreement, all claims brought by Sumitomo Corporation in the litigation have been settled. The settlement will be wholly reflected in provisions in UBS Investment Bank's first quarter results.

UBS commences new share buyback program

2006-03-08T07:00:00.000+01:00

On 8 March 2006, following the end of the 2005/2006 share buyback program, UBS launched a new 2006/2007 one. It will also lead to the cancellation of shares. As in previous years, the repurchase will take place over a "second trading line" on virt-x.

UBS reports 2005 result of CHF 9,844 million and fourth quarter result of CHF 2,629 million

2006-02-13T07:00:00.000+01:00

- total 2005 attributable profit, including the gain from the sale of Private Banks & GAM, of CHF 14,029 million

UBS Statement on Settlement of Wage and Hour Litigation

2006-02-09T07:00:00.000+01:00

UBS AG announced today that it has reached agreement in principle to settle class-action wage and hour claims filed in several federal courts on behalf of Financial Advisors and Financial Advisor trainees.

Mark Sutton at the Citigroup Financial Services Conference

2006-01-31T00:00:00.000+01:00

The Citigroup Financial Services Conference is taking place on January 31 - February 1, 2006 at the The Waldorf Astoria in New York City.

UBS reaches settlement with regulators on trading activity

2006-01-13T07:00:00.000+01:00

UBS AG announced today that UBS Financial Services Inc. has reached a settlement agreement 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 agreement, UBS has agreed to pay $54 million, of which $18 million will be set aside for potentially affected investors and $16 million for investor education and securities-enforcement initiatives.

UBS announces board nominations and executive appointments

2005-12-14T07:00:00.000+01:00

The UBS Board of Directors nominates two candidates for election to the Board at the Annual General Meeting (AGM) on 19 April 2006. The nominees are Gabrielle Kaufmann-Kohler and Joerg Wolle. At the same time UBS announces the appointment of Marcel Rohner as Deputy Group CEO and Rory Tapner, Chairman & CEO Asia Pacific, as a member of the Group Executive Board.

Huw Jenkins at the Merrill Lynch Banking & Financial Services Investor Conference

2005-11-15T16:01:00.000+01:00

The 2005 Merrill Lynch Banking & Financial Services Investor Conference is taking place on November 15 - 17 at the Pierre Hotel in New York.

UBS reports third quarter 2005 result of CHF 2,770 million

2005-11-01T07:00:00.000+01:00

• Net profit attributable to UBS shareholders of CHF 2,770 million in third quarter • Financial businesses contributed CHF 2,642 million in third quarter - up 67% from a year earlier and 50% higher pre-goodwill • Best ever quarterly performance, driven by well-balanced revenue growth • Annualized RoE at 29.0%, again well above 15-20% target range, EPS in third quarter of CHF 2.75. • Cost/income ratio at 68.5%, down 4.2 percentage points (pre-goodwill) Net new money at CHF 51.2 billion in third quarter - exceptionally strong, with a record CHF 31.1 billion contribution from wealth management clients worldwide.

UBS releases regrouped figures reflecting the transfer of the municipal finance business from the Wealth Management USA unit to the Investment Bank

2005-10-04T09:00:00.000+02:00

UBS is today releasing regrouped figures in order to align comparative prior periods for the transfer of the municipal finance business from Wealth Management USA to the Investment Bank. This shift became effective on 1 July 2005. In addition, we have changed the treatment of Wealth Management USA's corporate cash management business, excluding its assets from the invested asset measure, as a detailed business review revealed that these assets only involve a minimal advisory role for UBS. Please note that all the numbers contained in this restatement release are unaudited.

UBS signs agreements to sell Motor-Columbus stake

2005-09-30T07:00:00.000+02:00

UBS will sell its 55.6% stake in Motor-Columbus to a consortium of Atel's Swiss minority shareholders, EOS Holding and Atel, as well as to French utility Electricité de France (EDF). Corresponding agreements to this effect have been signed. The sale price has been set at CHF 1.3 billion, resulting in an estimated pre-tax gain for UBS of around CHF 350 million. The transaction must be approved by various national and international authorities and will not be completed until the beginning of 2006 at the earliest.

Senior Management Appointments

2005-09-15T09:00:00.000+02:00

UBS announces senior management appointments

UBS reports second quarter 2005 result of CHF 2,147 million

2005-08-09T07:00:00.000+02:00

- Net profit attributable to UBS shareholders of CHF 2,147 million in second quarter - Financial businesses contributed CHF 2,111 million in second quarter - up 9% from year earlier, virtually flat pre-goodwill - In first half 2005, attributable profit from financial businesses was CHF 4,538 million, in line with first half 2004 - Annualized RoE in first half at 28.2%, again well above 15-20% target range, EPS in second quarter of CHF 2.10 -Results show continued strength across the firm, led by strong asset-based revenues in the wealth and asset management businesses -Net new money, at CHF 30 billion in second quarter, was again extremely strong, with a near record CHF 19.2 billion contribution from wealth management clients worldwide.

UBS to report Second Quarter 2005 Results on August 9th

2005-08-02T10:00:00.000+02:00

UBS is pleased to invite you to the presentation of its Second Quarter 2005 results at the UBS Conference Center Grünenhof. The results will be presented on Tuesday, 9 August by Peter Wuffli, Chief Executive Officer, Clive Standish, Chief Financial Officer and Mark Branson, Chief Communication Officer.

Interview on the management changes announced on June 30th, 2005.

2005-07-01T00:00:00.000+02:00

Video interview with John Costas, Chairman UBS Investment Bank and Huw Jenkins, Chief Executive Officer Investment Bank on the management changes announced on June 30th, 2005.

UBS to integrate wealth management units, launch new alternative investment management business

2005-06-30T00:00:00.000+02:00

UBS today announces the integration of its two wealth management businesses, under the leadership of Marcel Rohner. Mark Sutton to become Chairman and CEO, Americas. Raoul Weil to join Group Executive Board. UBS also announces the launch of a new alternative investment management business, Dillon Read Capital Management, under the leadership of John Costas as CEO. Huw Jenkins to become CEO, Investment Bank and join Group Executive Board.

UBS discussing a co-operation partnership with Bank of China

2005-06-23T00:00:00.000+02:00

UBS is in talks with Bank of China (BOC) with a view to forming a mutually beneficial co-operation partnership

UBS first quarter 2005 result of CHF 2,625 million

2005-05-03T07:00:00.000+02:00

- Net profit attributable to UBS shareholders of CHF 2,625 million - Financial businesses contributed CHF 2,427 million -- second-best quarterly performance, down CHF 1 million from the record first quarter 2004 - EPS of CHF 2.60 and ROE 32.4% -- both at all-time highs - Revenues resilient, with strong fee and commission income - Net new money was CHF 32.3 billion in first quarter, with a record CHF 21.2 billion inflow from wealth management businesses worldwide.

Results from the Financial Businesses

2005-05-03T00:00:00.000+02:00

At the highest level ever recorded, Wealth Management pre-tax profit in first quarter 2005 was CHF 915 million, up 12% from CHF 818 million in fourth quarter 2004. The result was helped by the fact that goodwill amortization ceased in first quarter 2005. Excluding goodwill, the increase was 10%. The strong result reflected increased asset-based fees from the record invested asset base as well as higher client activity levels. Rising interest income, a reflection of the expansion of margin lending activities, also reinforced revenues. The higher client activity levels helped the gross margin on invested assets to rise to 104 basis points, up 5 basis points from fourth quarter 2004, when the margin was depressed by a number of timing effects.

Net new money in first quarter 2005 was CHF 15.4 billion, up from CHF 6.5 billion in fourth quarter 2004. This intake was the second-best ever, just behind first quarter 2004. The International Clients area recorded CHF 14.5 billion in net new money, driven by a record high inflow of CHF 5.6 billion into the domestic European business and further strong contributions from Asian clients. The Swiss Clients area showed an inflow of CHF 0.9 billion, a clear improvement from the outflow of CHF 0.7 billion in fourth quarter 2004, which was influenced by seasonal withdrawals.

The Business Banking Switzerland unit reported pre-tax profit of CHF 531 million in first quarter 2005, CHF 28 million or 6% higher than in fourth quarter 2004. The result shows the continued tight management of the cost base, with improved credit results reflecting the structural improvement of the loan portfolio in recent years. Total operating income was practically unchanged from fourth quarter 2004.
The loan portfolio, at CHF 139.4 billion on 31 March 2005, was CHF 2.3 billion above the level on 31 December 2004. A strong increase in private client mortgages and slightly increased demand from corporate clients offset the ongoing workout of the recovery portfolio.

Annual General Meeting of UBS AG

2005-04-21T00:00:00.000+02:00

UBS proposes candidates for election to the Board

2005-02-21T00:00:00.000+01:00

Two candidates will be proposed for election to the UBS Board of Directors at the Annual General Meeting (AGM) on 21 April 2005. The nominees are Peter R. Voser and Marco Suter.

Chief Risk Officer Walter Stuerzinger appointed to UBS Group Executive Board

2005-02-21T00:00:00.000+01:00

Walter Stuerzinger will join UBS's Group Executive Board as Chief Risk Officer. Current Chief Credit Officer Marco Suter will be proposed for election to UBS's Board of Directors at the upcoming Annual General Meeting. He will be succeeded by Philip Lofts, currently Chief Credit Officer of UBS Investment Bank.

UBS reports 2004 net profit of CHF 8,089 million and fourth quarter net profit of CHF 2,021 million

2005-02-08T07:00:00.000+01:00

- 2004 net profit of CHF 8,089 million, financial businesses contributed CHF 8,044 million -- a record result, up 29% from 2003 - Revenues grew in all categories, pushing the 2004 cost/income ratio for the financial businesses down to 72.6% or 70.2% excluding goodwill - RoE for 2004 was 24.7% or 27.7% excluding goodwill - 2004 EPS of CHF 7.68, up 37% from 2003 or up 34% excluding goodwill - Proposed dividend of CHF 3.00 per share, up 15% from previous year - Net new money of CHF 88.9 billion for the year, with strong CHF 59.4 billion from wealth management businesses worldwide - Fourth quarter net profit of CHF 2,021 million, financial businesses contributed CHF 1,993 million -- the best ever fourth quarter.

Results from the Financial Businesses

2005-02-08T00:00:00.000+01:00

Wealth Management & Business Banking

Despite the weakening of the US dollar against the Swiss franc, Wealth Management's full-year 2004 pre-tax profit, at CHF 3,435 million, was up 32% from 2003. This increase reflects the growth momentum in the business and the recovery in major financial markets that started in mid-2003, driving a 13% increase in revenues through higher asset-based fees. Rising interest income, a reflection of the expansion of margin lending activities, also bolstered revenues. At the same time, expenses, up just 2% in 2004 from 2003, were kept under tight control. Net new money inflows for the year totaled CHF 42.3 billion, up 42% from CHF 29.7 billion in 2003. Gains were reported in all geographical areas, especially from Asian clients. The CHF 13.7 billion inflow into the European wealth management business was again particularly strong.

In fourth quarter 2004, profit before tax stood at CHF 831 million, 3% lower than in third quarter. Higher non-personnel expenses, related to continued business growth, coincided with virtually flat income. The gross margin on invested assets was 99 basis points, down 2 basis points from the previous quarter. This was partially due to the first-time booking of invested assets acquired with Sauerborn Trust at the end of fourth quarter 2004 (CHF 9 billion) without corresponding revenues. Excluding this effect, the margin declined by 1 basis point.

Business Banking Switzerland reported a pre-tax profit of CHF 2,045 million for full-year 2004, down 5% from the record result achieved in 2003. It was achieved despite a CHF 184 million fall in income, driven mainly by lower interest income, and shows the continued tight management of costs. Lower credit loss expenses reflected the structural improvement in the domestic loan portfolio in recent years.

During the course of 2004, CHF 7 billion in assets were transferred from the Business Banking Switzerland unit to the Wealth Management unit, reflecting the increasing needs of clients through their life cycle.

Fourth quarter 2004 pre-tax profit was CHF 510 million, down 1% from third quarter 2004, mainly due to lower non-interest income. The third quarter result benefited from a gain on the divestment of the Noga Hilton hotel.

UBS to announce fourth quarter results

2005-02-01T00:00:00.000+01:00

On Tuesday, 8 February, at 9am (CET), Peter Wuffli, Chief Executive Officer, Clive Standish, Chief Financial Officer, and Mark Branson, Chief Communication Officer, will present UBS's Fourth Quarter Results 2004 live via webcast.

UBS receives Wells Notice from SEC relating to HealthSouth

2004-12-21T00:00:00.000+01:00

UBS receives "Wells Notice" from the staff of the United States Securities and Exchange Commission (SEC) relating to work performed for HealthSouth. UBS is continuing to cooperate fully with the SEC.

UBS reports third quarter net profit of CHF 1,671 million

2004-11-02T07:00:00.000+01:00

- Net profit in third quarter of CHF 1,671 million, Financial Businesses contributed CHF 1,654 million. - Net new money of CHF 20.5 billion in total, with strong CHF 16.7 billion from wealth management clients worldwide. - Solid asset-based revenues, with record management fees, slowdown in trading returns. - Annualized RoE at 24.5% (27.4% excluding goodwill), EPS up 5% from third quarter 2003 (up 7% excluding goodwill). - Cost/income ratio for Financial Businesses, down from previous year, remains near historically low levels.

UBS reports third quarter net profit of CHF 1,671 million

2004-11-02T00:00:00.000+01:00

UBS reports second quarter net profit of CHF 1,974 million

2004-08-10T07:00:00.000+02:00

Second best quarterly performance since 2000, with net profit up 28% from second quarter 2003 - Half-year net profit up 60% at CHF 4,397 million - Excluding goodwill and gain from the sale of US clearing business in 2003*, net profit in second quarter up 24%, and for the first half up 50% - Operating income up 6%, driven by strong fee and commission revenues - Annualized RoE at 26.5% (29.2% excluding goodwill), earnings per share up 37% (32% excluding goodwill and disposal gain in 2003) - Net new money of CHF 16.9 billion in total, with strong CHF 10.4 billion from wealth management clients worldwide.

UBS reports second quarter net profit of CHF 1,974 million

2004-08-10T00:00:00.000+02:00

UBS's position in own shares below reporting limit of 10%

2004-07-05T00:00:00.000+02:00

UBS's position in its own shares has moved below the SWX Swiss Exchange's statutory limit of 10%. On 30 June 2004, UBS held 6.7% of its registered shares, and a potential further 0.5% in the form of derivatives.

Investors Day 2004

2004-06-04T00:00:00.000+02:00

Investment Banking & Risk

UBS statement on regulatory actions by the U.S. Federal Reserve and the Swiss Federal Banking Commission

2004-05-10T00:00:00.000+02:00

The Federal Reserve Board (FED) and the Swiss Federal Banking Commission (SFBC) have sanctioned UBS in connection with violations of an agreement governing its involvement in the "Extended Custodial Inventory Program" for US dollar banknotes. The FED has announced that it will levy a civil penalty of USD 100 million. UBS recognizes that very serious mistakes were made, accepts the sanctions and expresses its regret. It has already instituted corrective and disciplinary measures and has decided to exit the international banknote trading business.

UBS reports first quarter net profit of CHF 2,423 million

2004-05-04T07:00:00.000+02:00

Best quarterly performance ever, double the result reported in first quarter 2003 (up 100% or 82% before goodwill amortization) - Operating income up 33% with revenue growth in all businesses - Annualized RoE at 29.2% (31.9% before goodwill), and earnings per share up 114% (up 95% before goodwill) -- both at all-time highs - Net new money of CHF 35 billion in total, with record CHF 19 billion from wealth management clients worldwide

UBS reports first quarter net profit of CHF 2,423 million

2004-05-04T00:00:00.000+02:00

Annual General Meeting of UBS

2004-04-15T00:00:00.000+02:00

UBS to acquire 20% stake in Motor-Columbus from RWE

2004-04-05T00:00:00.000+02:00

UBS will acquire RWE's 20% stake in Motor-Columbus as well as its 1.23% stake in Atel for a total of CHF 420 million. Through the transaction UBS will become the majority shareholder of Motor-Columbus and indirectly hold a controlling interest in Atel via Motor-Columbus' majority stake. UBS will submit a mandatory takeover offer to other shareholders of Atel. This move lays the foundation for a future sale by UBS of its participation in Motor-Columbus, leading to a long-term solution with industrial logic.

UBS commences new share buyback program

2004-03-08T00:00:00.000+01:00

On 8 March 2004, UBS will commence another share buyback program leading to the cancellation of shares. As in previous years, the repurchase will take place over a "second trading line" on virt-x.

UBS reports 2003 net profit of CHF 6,385 million and fourth quarter net profit of CHF 1,859 million

2004-02-10T07:00:00.000+01:00

With 2003 net profit of CHF 6,385 million, UBS reports its second most profitable year ever. Excluding goodwill amortization and significant financial events*, net profit rose 33% from 2002. UBS shareholders benefit from a combination of high return on equity, rapid earnings per share growth, a record dividend, and top-tier capitalization. Net new money inflows in the wealth management businesses totaled CHF 50.8 billion in 2003.

UBS reports 2003 net profit of CHF 6,385 million and fourth quarter net profit of CHF 1,859 million

2004-02-10T00:00:00.000+01:00

UBS reports third quarter net profit of CHF 1,673 million

2003-11-11T07:00:00.000+01:00

With third quarter 2003 net profit of CHF 1,673 million, UBS reports its most profitable quarter in three years. Excluding goodwill amortization, net profit was CHF 1,911 million, up 53% from a year earlier and 2% higher than second quarter. Net new money of CHF 20 billion demonstrates substantial competitive gains. Return on equity for the year has risen to almost 20%.

UBS reports third quarter net profit of CHF 1,673 million

2003-11-11T00:00:00.000+01:00

UBS rated top in corporate governance in Switzerland

2003-10-09T00:00:00.000+02:00

UBS rated top in corporate governance in Switzerland

UBS announces executive appointments

2003-09-17T00:00:00.000+02:00

UBS today announces a number of executive appointments. Mark B. Sutton to succeed Joseph J. Grano Jr. as CEO of Wealth Management USA business. Clive Standish to become Chief Financial Officer. Stephan Haeringer and Marco Suter to be proposed as new members of Board of Directors.

UBS reports second quarter net profit of CHF 1,639 million

2003-08-13T07:00:00.000+02:00

UBS reports net profit of CHF 1,639 million for second quarter 2003 and CHF 2,853 million for the first half of the year. Before goodwill amortization, net profit in second quarter was up 15% from a year earlier and 29% from first quarter. Positive market developments boosted revenues and profitability in all businesses.

UBS reports second quarter net profit of CHF 1,639 million

2003-08-13T00:00:00.000+02:00

UBS reports first quarter net profit of CHF 1,214 million

2003-05-13T07:00:00.000+02:00

UBS reports net profit of CHF 1,214 million in first quarter 2003, down 11% from the same quarter a year earlier. Before goodwill and excluding the net gain from the sale of Hyposwiss in first quarter 2002, net profit was 7% lower. Despite tough markets, UBS managed to increase shareholder returns by keeping a strong grip on costs and managing capital resources tightly. UBS's wealth management businesses (Private Banking and UBS PaineWebber) achieved strong net new money inflows of CHF 11.1 billion, with a record inflow into the European wealth management initiative.

UBS reports first quarter net profit of CHF 1,214 million

2003-05-13T00:00:00.000+02:00

Annual General Meeting of UBS

2003-04-16T00:00:00.000+02:00

At the UBS AGM of 16 April, shareholders approved a lower minimum shareholding for placing items on the AGM agenda, as well as a reduced term of office for members of the Board of Directors. The meeting also approved the dividend of CHF 2 per share recommended by the Board of Directors. In his speech, Marcel Ospel, Chairman of the Board of Directors, addressed the subject of retirement savings and stressed the continuing importance of Switzerland's tried-and-tested 'three pillars' principle. 2529 shareholders attended the AGM, representing 279'720'040 votes.

UBS reports 2002 net profit of CHF 3,535 million and fourth quarter net loss of CHF 101 million (including non-cash brand writedown of CHF 953 million after tax)

2003-02-18T00:00:00.000+01:00

UBS reports net profit for 2002 of CHF 3,535 million, 29% less than 2001 - with the drop largely due to a non-cash writedown of CHF 953 million after tax related to the withdrawal of the PaineWebber brand. Pre-goodwill, and adjusted for the writedown and stripping out gains from divestments, net profit in 2002 fell to CHF 5,529 million, down 12% from a year earlier. Continued cost discipline and a focus on growth leave UBS well positioned for further competitive gains. UBS's wealth management businesses achieved net new money inflows of CHF 35.1 billion in 2002 while UBS Warburg increased its global investment banking market share to 5.0% from 4.4% in 2001.

UBS reports third quarter net profit of CHF 942 million

2002-11-12T00:00:00.000+01:00

UBS reports net profit after tax in third quarter 2002 of CHF 942 million, up 4% from the third quarter a year earlier but down 29% from second quarter 2002. Pre-goodwill, net profit was up 2% from third quarter 2001, but down 24% from second quarter 2002. Despite the pressure of falling equity markets, UBS continues to benefit from its diversified business mix and its ability to flex costs in line with prevailing market conditions. The Group's wealth management businesses again proved their asset gathering strength, with private clients investing net new money of CHF 12.7 billion for the quarter.

UBS reports second quarter net profit of CHF 1,331 million

2002-08-13T07:00:00.000+02:00

UBS reports net profit after tax in second quarter 2002 of CHF 1,331 million, down 4% from the second quarter a year earlier and 2% lower than in the first quarter. Pre-goodwill, profit was 5% less than second quarter 2001, but up 4% from the first quarter's pre-goodwill result (adjusted for the disposal of Hyposwiss). Profitability was sustained through strict management of costs, offsetting the market-related decline in revenues. Credit loss expense fell, reflecting the Group's cautious attitude towards risk concentrations.

UBS reports second quarter net profit of CHF 1,331 million

2002-08-13T00:00:00.000+02:00

UBS reports first quarter net profit of CHF 1,363 million

2002-05-14T07:00:00.000+02:00

UBS reports net profit after tax in first quarter 2002 of CHF 1,363 million, 14% less than the same quarter a year earlier but 23% higher than fourth quarter 2001. Pre-goodwill, and adjusted for gains from the sale of Hyposwiss, profit was CHF 1,574 million, 17% less than the same quarter a year earlier but 10% higher than the fourth quarter 2001. Although the market environment remained difficult, revenues continued to recover, showing the benefit of a diverse business mix.

UBS reports first quarter net profit of CHF 1,363 million

2002-05-14T00:00:00.000+02:00

Annual General Meeting of UBS

2002-04-18T00:00:00.000+02:00

UBS reports full-year net profit of CHF 4,973 million, and fourth quarter net profit of CHF 1,106 million

2002-02-14T07:00:00.000+01:00

UBS reports net profit after tax for 2001 of CHF 4,973 million, 36% less than the previous year. Pre-goodwill, net profit was 28% lower than was achieved in the markedly stronger markets of 2000 (adjusted for significant financial events1). Although UBS is still constrained by the difficult economic environment, its businesses are well positioned with strong client franchises and growing market share. Net new money inflows totalled CHF 102 billion in 2001, with Private Banking contributing CHF 22.5 billion, UBS PaineWebber generating CHF 36.0 billion and UBS Asset Management CHF 34.9 billion.

UBS reports full-year net profit of CHF 4,973 million, and fourth quarter net profit of CHF 1,106 million

2002-02-14T00:00:00.000+01:00

UBS reports third quarter net profit of CHF 903 million

2001-11-13T07:00:00.000+01:00

UBS reports a third quarter 2001 net profit after tax of CHF 903 million. Pre-goodwill, profit was CHF 1,227 million, 29% lower than last quarter and 44% less than achieved during the more favorable market environment of third quarter 2000. The client business remains solid while broad net new money inflows of CHF 34.9 billion in the quarter, and CHF 80.3 billion for the year-to-date, underscore the value investors place on quality advice.

UBS reports third quarter net profit of CHF 903 million

2001-11-13T00:00:00.000+01:00

UBS reports results for second quarter 2001: Net profit after tax CHF 1,385 million.

2001-08-14T07:00:00.000+02:00

UBS reports a net profit after tax of CHF 1,385 million, down 9% compared to the previous quarter and 26% compared to second quarter 2000, once adjusted for goodwill amortization and significant financial events*. The Group's core businesses have delivered stable revenues despite unfavourable market conditions, and continue to improve their competitive position. Net new money flow of CHF 24 billion (CHF 45 billion for the half-year) was positive across all businesses.

UBS reports results for second quarter 2001: Net profit after tax CHF 1,385 million.

2001-08-14T00:00:00.000+02:00

UBS reports results for first quarter 2001: Net profit after tax CHF 1,579 million.

2001-05-15T07:00:00.000+02:00

UBS reports a net profit after tax of CHF 1,579 million for the first quarter 2001, down 29% compared to the first quarter 2000, or 19% excluding the goodwill impact of the PaineWebber merger. Business units performed well, despite less favourable economic and market conditions. Clients invested more than CHF 21 billion in net new money.

UBS reports results for first quarter 2001: Net profit after tax CHF 1,579 million.

2001-05-15T00:00:00.000+02:00

Annual General Meeting of UBS.

2001-04-26T00:00:00.000+02:00

UBS results for full-year 2000: Net profit after tax CHF 7,792 million.

2001-02-22T07:00:00.000+01:00

UBS reports a record annual result with a net profit for 2000 of CHF 7,792 million. Adjusted for significant financial events, net profit was CHF 8,132 million, representing year-on-year growth of 74%. Also on an adjusted basis and pre-goodwill, earnings per share was CHF 21.83 and return on equity 24.3%. Group assets under management increased by CHF 725 billion to CHF 2,469 billion following the inclusion of PaineWebber.

UBS results for full-year 2000: Net profit after tax CHF 7,792 million.

2001-02-22T00:00:00.000+01:00

UBS reports detailed results for third quarter 2000: Net profit after tax CHF 2,075 million.

2000-11-28T14:22:00.000+01:00

UBS reports a net profit after tax and minority interests of CHF 2,075 million for third quarter 2000. This represents growth of 73% over third quarter 1999 on an adjusted basis. Pre-goodwill amortization, basic earnings per share were CHF 5.46 and the annualized return on equity 29.1%. Group assets under management increased 2% during the third quarter to total CHF 1,746 billion at the end of September.

UBS announces results of PaineWebber shareholder elections

2000-11-07T00:00:00.000+01:00

UBS announced today the results of PaineWebber shareholders' elections for cash or share consideration in connection with the completed merger between the two organizations.

All PaineWebber shareholders that elected to exchange their PaineWebber shares for UBS ordinary shares will have their elections honored in full.

All PaineWebber shareholders that elected to exchange their PaineWebber shares for cash will receive:

UBS shareholders approve capital increase for use in PaineWebber merger.

2000-09-07T00:00:00.000+02:00

UBS results for second quarter 2000: Net profit after tax CHF 2,052 million.

2000-08-22T00:00:00.000+02:00

UBS reports a net profit after tax and minority interests of CHF 2,052 million for second quarter 2000. Once the effect of divestments and one-off provisions is stripped out, this represents outstanding growth of 138% over second quarter 1999. Also on an adjusted basis and pre-goodwill amortization, basic earnings per share was CHF 5.97 and annualized return on equity 31.9%. Group assets under management totalled CHF 1,711 billion at the end of June 2000.

Extraordinary General Meeting of UBS on 7 September 2000

2000-08-03T00:00:00.000+02:00

UBS is convening an Extraordinary General Meeting on 7 September 2000 at which shareholders will be invited to approve an increase in the share capital to fund the merger transaction with PaineWebber. Shareholders will be requested to approve the creation of 38 million new UBS shares in the form of authorized capital and 17 million new UBS shares in the form of conditional capital. The Board of Directors will propose that UBS shareholders be paid a partial dividend of CHF 4.50 per share relating to the first nine months of 2000.

UBS to merge with PaineWebber.

2000-07-12T00:00:00.000+02:00

UBS will offer $73.50 per PaineWebber share valuing PaineWebber's outstanding share capital at $10.8 billion. The merger is recommended by the board of PaineWebber and supported by General Electric and Yasuda Mutual Life, PaineWebber's two largest shareholders, who together account for approximately 30% of the issued share capital. PaineWebber will become an integral part of UBS Warburg. Combining UBS Warburg's premium content and global reach with PaineWebber's private client franchise, and uniting the two highly complementary institutional franchises creates a preeminent global investment services firm. UBS Warburg will be one of the few financial institutions possessing top-class private, institutional and corporate client franchises, across the world, served by a full range of content, products and services.

UBS reports record result for first quarter 2000:

2000-05-25T07:00:00.000+02:00

UBS reports a net profit after tax and minority interests of CHF 2,216 million for first quarter 2000, up 41% over first quarter 1999. Before goodwill amortization, this represents basic earnings per share of CHF 6.04, an increase of 52% over first quarter 1999, and an annualized return on equity of 33.2%. Group assets under management increased CHF 23 billion to CHF 1,767 billion.

UBS Annual General Meeting

2000-04-18T00:00:00.000+02:00

UBS results for first nine months of 1999 - Net profit after tax over CHF 5 billion

1999-11-23T00:00:00.000+01:00

UBS earned a Group pre-tax profit of CHF 6,826 million for the first nine months. Net profit after tax and minority interests increased to CHF 5,179 million, representing diluted earnings per share of CHF 24.73 and an annualized return on equity of 19.5%. These results are not directly comparable with the same period last year. Group assets under management grew 2% since year-end 1998 to CHF 1,607 billion. Given the strength of the figures for the first nine months, UBS is confident about the result for full-year 1999.

UBS 1999 half-year results: Net profit after tax CHF 4 billion - merger completed

1999-08-24T00:00:00.000+02:00

UBS earned a Group pre-tax profit of CHF 5,239 million (+14%) for first-half 1999. Net profit after tax and minority interests increased 13% to CHF 3,962 million, equivalent to diluted earnings per share of CHF 18.84 and an annualized return on equity of 21.1%. Group assets under management grew by CHF 93 billion since year-end 1998 to CHF 1,665 billion (+5.9%). The completion of the integration has set a new international benchmark in efficiency and speed. UBS is confident for 1999 as a whole.

UBS: strong 1st quarter performance

1999-05-27T00:00:00.000+02:00

UBS achieved a Group pre-tax profit of CHF 2,114 million (+19%) for the first quarter of 1999. Net profit after tax and minority interests rose 21% to CHF 1,621 million, equivalent to earnings per share of CHF 7.67 and a return on equity of 21.2%. Group assets under management grew 4.3% over the quarter to CHF 1.6 trillion. UBS is confident that profitability will be substantially higher in 1999 than in 1998.

UBS Ordinary General Meeting

1999-04-22T07:00:00.000+02:00

UBS: Group results to 30 September 1998

1998-11-17T07:00:00.000+01:00

Group profit before tax was CHF 3,465 million or 30% lower compared with the consolidated nine-month result for 1997. Due to the adverse impact of various items which are exceptional in nature, net profit after taxes and minorities fell by CHF 911 million in the third quarter to CHF 2,600 million (-32%), resulting in di-luted earnings per share of CHF 12.20. If the international financial markets conti-nue to stabilise as in recent weeks, UBS expects a positive fourth quarter. The re-sult for the full year will nevertheless be below first-half net profit.