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James T. Glerum Jr. to Join UBS as Head of Diversified Industrials Investment Banking Group

| Media Releases Americas

UBS announced today that James T. Glerum Jr. will be joining the firm's Investment Bank Division as a Managing Director and Head of the Diversified Industrials Sector within the Global Industrial Group

NEW YORK, NY -- (MARKET WIRE) -- 03/17/2004 -- UBS announced today that James T. Glerum Jr. will be joining the firm's Investment Bank Division as a Managing Director and Head of the Diversified Industrials Sector within the Global Industrial Group.

Mr. Glerum will be based in Chicago and will report to Jeff McDermott, Vice Chairman and Head of the Global Industrial Group. The Diversified Industrials Sector spans many manufacturing and related sub-sectors including mobile industrial equipment, engineering and construction and electrical equipment, among others. Mr. Glerum is expected to join UBS during the latter half of April 2004.

Mr. Glerum, 43, is a Managing Director at Credit Suisse First Boston responsible for managing the Diversified Industrials Sector within that firm's Global Industrial Services Group. Mr. Glerum joined CSFB in 1988 and was named a Managing Director in 1997.

"I am very excited that Jim will be joining UBS," said Jeff McDermott. "This is a new position within the Industrials Group and I look forward to him working with our clients to help us build this business."

Mr. Glerum earned his B.A., cum laude, in Economics and Mathematics from Denison University and his M.B.A from Harvard Business School.

UBS is one of the world's leading financial firms, combining financial strength with a reputation for innovation and a global culture that embraces change.

UBS is the world's largest wealth manager, a premier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.

UBS, headquartered in Zurich and Basel, employs around 66,000 people, and has operations in over 50 countries and in all major financial centers.


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