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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 Global Asset Management appoints Trevor Cooke as Head of Global Real Estate for Asia Pacific

2013-05-02T11:13:00.000+02:00

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

Changes to UBS's Investment Bank senior management

2013-04-16T10:00:00.000+02:00

UBS appoints Oliver Bussmann as Group Chief Information Officer

2013-04-12T15:55:00.000+02:00

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

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

UBS unveils new Grid Girl chic look and exquisite trophy design for 2013 FORMULA 1 UBS CHINESE GRAND PRIX Countdown to the 10th Chinese Grand Prix begins!

2013-03-26T09:00:00.000+08:00

UBS publishes Annual Report 2012

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

Changes to the UBS Board of Directors

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

UBS completes acquisition of Link Investimentos in Brazil

2013-02-25T09:00:00.000-05:00

Leading local financial services firm is foundation for UBS Brasil expansion as they look to strengthen wealth management and onshore investment banking services.

Australian ETF market poised to ‘smarten’

2013-02-21T07:00:00.000+01:00

UBS Global Asset Management forecasts that the increasing popularity of ‘smart beta’ ETFs and the rising acceptance of these funds by SMSF and financial advisors will result in significant growth of these products in Australia this year.

ME Bank and UBS announce high-interest cash account service for super fund members

2013-02-12T12:00:00.000+01:00

ME Bank and UBS Australia (UBS) today announce an alliance that will make available a high-interest cash account service on UBS’s direct investment platform for superannuation funds.

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 (China) Limited officially opens

2013-01-16T09:00:00.000+08:00

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 Prices and earnings 2012: Highest net wages in Zurich, Geneva and Luxembourg

2012-09-14T09:00:00.000+02:00

UBS's second quarter 2012 results

2012-07-31T06:45:00.000+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

UBS launches education initiative to mark its 150th anniversary

2012-04-19T08:00:00.000+02:00

UBS is marking its 150th anniversary with the launch of a broad-based international education initiative. Its main focus will be the establishment of the UBS International Center of Economics in Society at the University of Zurich. Five additional fields of education will be supported through the funding of projects for different age groups with the goal of strengthening Switzerland's reputation as a location for education and business.

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

2012-03-29T07:00:00.000+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 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

Leadership change in UBS Investment Bank’s Global Equities business

2011-10-05T18:45:00.000+02:00

Mike Stewart appointed global head of Equities

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.

Landmark UBS-INSEAD study reveals changing face of Asian philanthropic giving

2011-08-23T08:00:00.000+02:00

UBS update on cost reduction plans

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

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

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

2011-07-01T05:56:00.000+02:00

At the Annual General Meeting on 3 May 2012, the Board of Directors will nominate Axel Weber for election to the Board. If elected, the Board will appoint him non-independent Vice- Chairman. In 2013 he will be nominated to succeed Kaspar Villiger as Chairman of the Board.

UBS Global Asset Management increases scale and distribution in Australia

2011-06-30T07:00:00.000+02:00

UBS Global Asset Management increases scale and distribution in Australia UBS today announces it has entered into a binding agreement to acquire ING Investment Management (Australia) Limited (“ING IM”), subject to Dutch Central Bank approval. The acquisition of INGIM into UBS Global Asset Management is expected to close in the fourth quarter of 2011.

ING IM is one of the largest independent investment managers in Australia, managing substantial investment portfolios on behalf of ANZ, one of Australia's leading retail banks. The acquisition of ING IM will significantly increase UBS Global Asset Management's market presence in Australia and position the business in the country's top ten investment managers by size*.

In addition to the acquisition of ING IM, UBS Global Asset Management has entered into a broader business relationship with ANZ under which it will provide investment advisory services to ANZ. ANZ will continue to manage its distribution and client relationships associated with this business.

Ben Heap, Head of UBS Global Asset Management, Australia and New Zealand, said: “We are delighted with the ING IM acquisition and concurrent agreement with ANZ. The acquisition significantly increases the scale and distribution of our business while the agreement with ANZ provides a cornerstone relationship in the dynamic Australian retail market.

“UBS Global Asset Management has a long history of delivering domestic and international investment solutions to its institutional and retail clients. We look forward to extending our offering to both ANZ and ING IM's clients.”

The relationship with ANZ is intended to be long term, with the potential to be broadened in scope to leverage our strengths in investment management, research, asset allocation and advisory services.

* Source: Rainmaker based on data as at 31 December 2010

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.

UBS Securities becomes the first foreign-invested securities firm to open a trading outlet in Hangzhou

2011-04-18T09:07:00.000+02:00

UBS launches Hong Kong Campus of UBS Business University

2011-04-13T11:00:00.000+02:00

UBS today officially opened the Hong Kong Campus of the UBS Business University at Li Po Chun Chambers in Sheung Wan, Hong Kong.

UBS launches algorithmic trading in Indonesia

2011-03-29T08:00:00.000+02:00

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 bullish on Asian equities although warns GDP growth may slip in the first half of 2011

2010-12-06T08:00:00.000+01:00

In light of realistic earnings forecasts combined with attractive valuations in the region, UBS Investment Bank remains positive on Asian equities in 2011. However, analysts warn that GDP growth may drop below trend in the first half of 2011, before picking up in the second half of the year.

UBS appoints Tien-Cheng Lee as Taiwan Country Head and Branch Manager of UBS AG, Taipei Branch

2010-12-06T08:00:00.000+01:00

UBS announces the appointment of Tien-Cheng LEE as Country Head, UBS Taiwan and Branch Manager of UBS AG Taipei Branch, with immediate effect. In his role, LEE (TC) will work closely with local regulators and ensure further integration between UBS’s Taiwan business and its businesses globally.

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 provides client access to Chi-East

2010-11-11T08:00:00.000+01:00

The global Equities business of UBS (NYSE: UBS; VTX: UBS) today announced that its clients will have access to Chi-East, the pan-Asian dark pool joint venture between Chi-X Global and the Singapore Exchange (SGX) and one of the first non-displayed external liquidity venues in Asia Pacific.

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 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 launches new principal protected retail structured product

2010-07-09T00:00:00.000+02:00

UBS today announced the launch of a new structured product in Taiwan, to be wrapped and distributed by Fubon Life Insurance. This is UBS’s first retail structured note offered to non-professional investors following the implementation last August of new regulations relating to offshore structured products.

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.

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 Wealth Management strengthens South Asia business with senior appointment

2010-01-13T09:00:00.000+01:00

UBS today announced that it had further strengthened its business in South Asia with the appointment of Vinay GANDHI as Managing Director and Country Team Head India International Asia. Based in Singapore, GANDHI will be responsible for developing and growing the India business. He will report to Andreas REBER, Regional Market Manager of India Indochina and Global Investors APAC.

UBS Wealth Management bolsters Ultra High Net Worth business in South Asia

2010-01-08T09:00:00.000+01:00

UBS today further strengthened its Ultra High Net Worth business in South Asia with the appointment of Reto MARX as Managing Director, Ultra High Net Worth Country Team Head based in Singapore.

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.

Michael Chin appointed CEO of UBS Hana Asset Management

2009-12-02T09:14:00.000+01:00

UBS Global Asset Management today announced the appointment of Michael CHIN (Chin Jae-Wuk) as CEO of UBS Hana Asset Management. The appointment becomes effective in January 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 names Allen Lo Hong Kong Country Head

2009-10-12T13:49:00.000+02:00

UBS AG today named Allen LO as Country Head for Hong Kong and Chief Executive of UBS AG, Hong Kong Branch.

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.

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

UBS launches "Tap" trading strategy in Asia Pacific

2009-08-19T07:24:00.000+02:00

As part of the continued expansion of its global algorithmic trading platform, UBS's Global Equities business today announced the launch in Asia Pacific of the advanced algorithmic trading strategy, UBS Tap.

Tap is an automated trading strategy that seeks out multiple sources of liquidity in the market, while offering traders a range of urgency options that control how fast an order fills and how much of the order will interact with displayed markets and non-displayed liquidity.

"Tap is the most agile algorithm yet and provides traders with ultimate control. It is designed for traders who wish to minimize their potential market impact on their order but, at the same time, reduce the risks of opportunity cost," said YANG Xia, Managing Director and Head of Algorithmic Trading for UBS in Asia Pacific.

UBS Tap was originally launched in the US in response to client requests for a liquidity-seeking strategy that used advanced logic to access multiple trading venues efficiently and quietly. Built specifically for APAC's unique markets, the regional launch of Tap provides UBS clients who trade in Australia, Hong Kong and Japan with access to intelligent and high-quality execution.

"UBS is a market share leader in Asia Pacific. We have the number-one share in Australia and Hong Kong and are a leading liquidity provider in Japan. Tap allows our clients to take advantage of this massive liquidity more effectively than ever before via the UBS Price Improvement Network (UBS PIN)," said SAITO Takayuki, Head of Direct Execution for APAC.

TapNow is a highly aggressive variant of Tap. It seeks liquidity with high urgency for situations in which speed of execution is critical. TapNow is also designed to access displayed and non-displayed market liquidity-sources simultaneously, and so optimize crossing opportunities while, at the same time, targeting urgent order completion.

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.

Update on John Doe Summons Litigation

2009-07-31T13:05:00.000+02:00

China's and Hong Kong's property prices to post significant rises in 2009 and 2010

2009-07-30T11:36:00.000+02:00

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.

Asian economies first to rebound globally, according to UBS Wealth Management

2009-06-29T10:00:00.000+02:00

In its latest report, "Asia Outlook second half 2009: Asia emerges stronger", UBS Wealth Management Research holds that Asia's strong rebound from the lows of the financial crisis is sustainable relative to its global peers. While the team acknowledges the risk of consolidation over the short term, it views Asia as having a leg up over the rest of the world given the region's fundamentals, liquidity, and existing investor positions.

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.

Fixed Income APAC Appointment

2009-06-23T12:55:00.000+02:00

UBS Global Asset Management appoints Head of Fixed Income, Asia Pacific

China Market Strategy - Range bound before the next bull market

2009-06-09T12:30:00.000+02:00

China's equities will continue to rise throughout 2009. However, with global economic demand and China's external demand remaining weak, momentum risks running ahead of fundamentals, which will lead to stretched valuations. UBS believes that this will be the biggest challenge facing investors in China in 2009 as index prices become more sensitive to negative news. But important seeds for the next bull-run have been planted and strong liquidity and improving fundamentals will drive China to another multi-year high.

Carbon pricing - the impact on Asia companies

2009-06-04T11:37:00.000+02:00

In December 2009, the United Nations Framework Convention of Climate Change (UNFCCC) is meeting in Copenhagen. UBS expects this gathering to act as a catalyst for the wider introduction of carbon pricing. The latest UBS Investment Bank Q-Series® on Asian Structural Themes examines the range of potential outcomes stemming from Copenhagen and the implications carbon pricing would have on the earnings of 300 Asian companies.

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.

China's auto market - the key beneficiaries

2009-05-19T11:37:00.000+02:00

China's auto market has experienced substantial growth over the past decade and is poised to become the largest auto market in the world. With government policies reviving consumer confidence and stemming the fall in auto sales following a dramatic slow down in the domestic economy in 2008, China's auto market is one of the few that continues to grow. However, shifts in demand means new domestic champions will emerge.

UBS sweeps the board in Asia's largest client-voted private banking poll

2009-05-19T11:12:00.000+02:00

Asiamoney's fifth annual private banking poll has named UBS Wealth Management the Overall Best Private Bank in Asia in a survey of high net-worth individuals across the region.

UBS launches internal crossing platform - the UBS Price Improvement Network (UBS PIN)

2009-05-18T09:16:00.000+02:00

The global Equities business of UBS (NYSE: UBS; VTX: UBS) today announced the launch of an internal crossing platform in Hong Kong - the UBS Price Improvement Network (UBS PIN).

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.

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 enhances coverage of Indian mid and small-cap sectors through strategic alliance with Noble

2009-04-20T11:33:00.000+02:00

In line with its continued commitment to enhance the breadth and depth of its equity research offering, UBS today entered into a strategic alliance with Noble, a research-led investment bank specializes in UK and Indian mid- and small-cap stocks.

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 appoints Andy Brown Head of Asian Financial Institutions research and John Tang as China Strategist

2009-04-13T09:45:00.000+02:00

Further strengthening its market leading equity research team, UBS Investment Bank announced the appointment of Andy BROWN as a Managing Director and Head of Financial Institutions Research, and John TANG as an Executive Director with primary responsibility for China H-share strategy.

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.

UBS AG Hong Kong Branch releases financial information

2009-03-31T13:15:00.000+02:00

Hong Kong (Tuesday 31 March 2009) - UBS AG's Hong Kong Branch today released its Key Financial Information Disclosure Statement, as required by the Hong Kong Monetary Authority of overseas-incorporated authorized institutions

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).

Consumption - the key beneficiaries in Asia

2009-02-17T10:00:00.000+01:00

Rapid economic growth in Asia has been accompanied by strong growth in consumption in the region. But, in light of current economic uncertainties, which types of consumption in which countries are likely to benefit the most in the future? UBS's latest Asian Structural Themes Q Series research report examines six consumption themes, and asks how various social and economic characteristics influence countries' consumption of different types of goods and services. The report seeks to identify the countries which will be the primary beneficiaries of different types of consumption growth as well as the companies best placed to take advantage of these trends.

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 appoints Timothy Chia as Vice Chairman of UBS Investment Bank in Asia

2009-01-21T06:43:00.000+01:00

UBS announced today it has appointed Timothy CHIA as Vice Chairman of UBS Investment Bank in Asia.

Toshiharu Kojima appointed to lead UBS in Japan

2009-01-20T14:00:00.000+01:00

Reflecting its ongoing commitment to Japan, UBS has appointed Toshiharu KOJIMA as Country Head Japan, and Chairman and Chief Executive Officer of UBS Securities Japan (UBSSJ), effective 21 January 2009.

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 brings together sailors with disability from Sailability Singapore and Volvo Ocean Race's Green Dragon team

2009-01-14T10:05:00.000+01:00

As part of UBS's community outreach and support for sailing in the local community, UBS Singapore organized an exclusive sailing experience for sailors with disability from Sailability Singapore, a programme of the Singapore Disability Sports Council, to sail and work alongside the Green Dragon crew, one of the competing teams in the Volvo Ocean Race 2008-2009.

UBS AG announces sale of Bank of China stake

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

Improved credit markets will be key to the revival in Asian equity valuations, according to UBS Investment Research

2008-12-03T10:22:00.000+01:00

A rally in Asian equities is likely to be led by an improvement in malfunctioning credit markets, and thereafter by a bottoming out of the global growth cycle, according to UBS's Asian Equity Strategy Outlook for 2009.

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.

UBS appoints Susumu Okamura as President and Representative Director of UBS Global Asset Management Japan

2008-11-25T10:01:00.000+01:00

UBS Global Asset Management (Japan) Ltd today appointed Susumu OKAMURA as president and representative director, effective immediately. Okamura assumes the role from Christof KUTSCHER, member of UBS's Group Managing Board and head of UBS Global Asset Management for Asia Pacific, who has concurrently held the position of President and representative director of UBS Global Asset Management (Japan) since June 2007.

UBS launches Direct Market Access in Malaysia

2008-11-25T09:49:00.000+01:00

UBS bolsters wealth management team in Asia with a series of key hires

2008-11-19T14:04:00.000+01:00

Underlining its commitment to maintain its market-leading business in Asia Pacific, UBS Wealth Management today announced a series of key strategic hires in Hong Kong and Singapore.

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.

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 Investment Bank strengthens oil and gas investment banking team

2008-10-05T08:03:00.000+02:00

UBS Investment Bank today announced the appointment of Jorge MARTINEZ as head of its oil and gas group, Asia at UBS Investment Bank as well as of Anthony CARANGO, Scott WILSON, and Jia ZHAI as members of the team.

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 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 AG Hong Kong Branch releases financial information

2008-09-30T07:00:00.000+02:00

UBS AG's Hong Kong Branch today released its Key Financial Information Disclosure Statement, as required by the Hong Kong Monetary Authority of overseas-incorporated authorized institutions.

UBS launches Direct Market Access in India

2008-09-29T13:30:00.000+02:00

In line with its commitment to providing its clients with best-in-class access to the equity markets, UBS, on 29 September, has launched Direct Market Access (DMA) on the National Stock Exchange of India and the Bombay Stock Exchange.

UBS Investment Bank bolsters China investment banking team

2008-09-23T16:23:00.000+02:00

UBS Investment Bank today announced the appointment of Joe ZHANG as Deputy Head of Investment Banking, China at UBS Investment

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.

Global UBS Philanthropy Forum brought to Asia for the first time

2008-09-12T13:27:00.000+02:00

UBS today announced the opening of the Global UBS Philanthropy Forum in Singapore. It is the first time the leading global exchange platform for private philanthropy has taken place in Asia. Over the next two days the Forum will bring together philanthropists, business leaders, social entrepreneurs, and representatives from civil society around the world to consider the theme of 'Building Change Communities' through a series of workshops and discussions.

"In a world faced with challenges ranging from extreme poverty to global warming and civil conflicts, UBS recognizes the vital roles played by entrepreneurs and philanthropists in providing risk capital for social development. It was in response to increasing interest by private individuals to help overcome social challenges that we launched the Global UBS Philanthropy Forum three years ago. This year, we are delighted to bring the Forum to Asia for the first time, a reflection of the growing influence of the region and UBS's commitment to its growth," said Raoul WEIL, Chairman and Chief Executive Officer of Global Wealth Management and Business Banking of UBS AG.

The Global Philanthropy Forum is designed to provide a 'safe space' environment in which philanthropists can exchange insights with peers and learn from others in the field. It will also showcase a range of state-of-the-art approaches to giving and implementation models. Previously, the Forum has been held in Switzerland, Italy, Portugal and Monaco.

Said Kathryn SHIH, Head of Wealth Management, Asia Pacific: "Over the past two decades, philanthropy has gained prominence in Asia due to the substantial increase in economic power and wealth in the region. While philanthropy in Asia has a long history, many philanthropists here are now looking beyond the Asian model and seeking to integrate aspects of philanthropy in the West. The Global UBS Philanthropy Forum aims to be a conduit for the best practices in philanthropy globally. We are honored and privileged that Singapore is hosting the Forum this year. It is also an acknowledgement of Singapore's growing innovation in this area. With the support of the government and various community institutions, Singapore is emerging to be a leading centre for philanthropy."

The Forum will feature in excess of 200 participants from various backgrounds and countries. They include: Singapore's Minister Mentor, Lee Kuan Yew; Kathleen Kennedy Townsend, board member of the John F. Kennedy Library Foundation; Scott Weber, the Director-General of Interpeace, one of the largest peacebuilding organizations in the world; Lester M. Salamon, Professor at the Johns Hopkins University and director of the Center for Civil Society Studies at the Johns Hopkins Institute for Policy Studies; Chinese actor, Jet Li, and Australian professional golfer, Adam Scott, both of whom launched their foundations in Singapore in the past week.

UBS is also proud to partner with the National Volunteer and Philanthropy Centre and the Lien Centre for Social Innovation to organize side events in the context of the 2008 Forum - events which will allow the Singapore public access to the insights of some of the Forum's key speakers.

The UBS Philanthropy Services platform was established in 2004 in Switzerland.
Following a growing regional interest in social investment, philanthropists are increasingly seeking professional advice. In response, in 2005 UBS regional advisory teams of UBS Philanthropy Services were established in Hong Kong and Singapore, and recently a dedicated team in Australia was added. UBS Philanthropy Services has organized six philanthropy roundtables in Asia Pacific since 2005 as well as a number of other philanthropy-related events. In 2007, UBS was ranked as #1 by Euromoney in the provision of philanthropy services.

Enquiries:
Julie Yeo (T) +65 6495 5332 (M) +65 9673 4433
Rachel Lin (T) +65 6431 8633 (M) +65 9666 1855

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".

Andrew Look is to provide consultancy services to both UBS Wealth Management and UBS Investment Bank.

2008-07-14T13:45:00.000+02:00

UBS Hong Kong today announced Andrew LOOK, currently Head of HK Research, Strategy and Product, will provide consultancy services to the firm's wealth management and equities business, effective from August.

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.

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 Investment Bank To Exit Institutional Municipal Securities Business

2008-06-05T00:00:00.000+02:00

UBS Wealth Management Americas Continues To Offer Municipal Securities Products To Clients.UBS announced today that it will close its Investment Bank's institutional municipal securities business through an orderly wind-down. UBS Wealth Management Americas will continue to be a leading provider of municipal securities products to private clients by assuming responsibility for secondary trading efforts, introducing an open architecture platform for new issues and expanding its municipal research team.

Disclosure of shareholdings

2008-05-28T07:00:00.000+02:00

Based on changes in the group composition according to article 15 para. 5 of the Ordinance of the Swiss Federal Banking Commission on Stock Exchanges and Securities Trading (SESTO-FBC) UBS AG, Bahnhofstrasse 45, 8098 Zurich, received the following information from Credit Suisse Group, Paradeplatz 8, 8070 Zurich for publication.

As of 19 May 2008 Credit Suisse Group held a stake of 2.74% (59,531,635) of acquisition positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 15,543,624 (0.72%) registered shares with voting rights and 14,102,111 acquisition rights relating to 28,622,243 (1.32%) voting rights and 12,910,262 written disposal rights relating to 15,365,768 (0.71%) voting rights attaching to registered shares of UBS AG.

At the same time Credit Suisse Group held a stake of 3.77% (81,905,460) of disposal positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 17,335,696 disposal rights relating to 23,733,760 (1.09%) voting rights and 412,658,263 written acquisition and conversion rights relating to 58,171,700 (2.68%) voting rights attaching to registered shares of UBS AG.

Credit Suisse Group directly and indirectly holds the following acquisition and disposal positions through the following companies:

Credit Suisse Group indirectly through its subsidiaries Clariden Leu Holding AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland (indirectly through Clariden Leu AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland) and Credit Suisse, Paradeplatz 8, Postfach, 8070 Zurich, Switzerland, directly and indirectly through its subsidiaries Credit Suisse Holdings (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA (indirectly through Credit Suisse (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA, indirectly through Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, N.Y. 10010, New York, USA) and Credit Suisse International, One Cabot Square, London, E14 4QJ, England, and Credit Suisse Life (Bermuda) Ltd., Argyle House, 41 A, Cedar Avenue, Hamilton HM 12, Bermuda, and Credit Suisse Life & Pensions AG, Mühleholz 3, FL-9490 Vaduz, and Credit Suisse (International) Holding AG, Bahnhofstrasse 17, 6300 Zug, Switzerland (indirectly through Credit Suisse Investments (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Investment Holdings (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Securities (Europe) Limited, One Cabot Square, London E14 4QJ, England).

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX. Details about the required disclosure of the acquisitions and the disposal positions will be provided on demand and free of charge by UBS (contact: UBS Investor Relations, +41-44-234 41 00) within two trading days via e-mail, fax or mail.

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.

Disclosure of shareholdings as of 22 May 2008 (1)

2008-05-22T06:45:00.000+02:00

Based on changes in the group composition according to article 15 para. 5 of the Ordinance of the Swiss Federal Banking Commission on Stock Exchanges and Securities Trading (SESTO-FBC) UBS AG, Bahnhofstrasse 45, 8098 Zurich, received the following information from Credit Suisse Group, Paradeplatz 8, 8070 Zurich for publication.

As of 13 May 2008 Credit Suisse Group held a stake of 3.83% (83,174,669) of acquisition positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 14,825,658 (0.68%) registered shares with voting rights and 38,096,918 acquisition rights relating to 52,597,943 (2.42%) voting rights and 12,914,115 written disposal rights relating to 15,751,068 (0.73%) voting rights attaching to registered shares of UBS AG.

At the same time Credit Suisse Group held a stake of 3.89% (84,495,664) of disposal positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 17,476,579 disposal rights relating to 24,299,155 (1.12%) voting rights and 408,522,926 written acquisition and conversion rights relating to 60,196,509 (2.77%) voting rights attaching to registered shares of UBS AG.

Credit Suisse Group directly and indirectly holds the following acquisition and disposal positions through the following companies:

Credit Suisse Group, Paradeplatz 8, Postfach, 8070 Zürich, Switzerland indirectly through its subsidiaries Neue Aargauer Bank, Bahnhofstrasse 49, 5000 Aarau, Schweiz and Clariden Leu Holding AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland (indirectly through Clariden Leu AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland) and Credit Suisse, Paradeplatz 8, Postfach, 8070 Zurich, Switzerland, directly and indirectly through its subsidiaries Credit Suisse Holdings (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA (indirectly through Credit Suisse (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA, indirectly through Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, N.Y. 10010, New York, USA) and Credit Suisse International, One Cabot Square, London, E14 4QJ, England, and Credit Suisse Life (Bermuda) Ltd., Argyle House, 41 A, Cedar Avenue, Hamilton HM 12, Bermuda, and Credit Suisse Life & Pensions AG, Mühleholz 3, FL-9490 Vaduz, and Credit Suisse (International) Holding AG, Bahnhofstrasse 17, 6300 Zug, Switzerland (indirectly through Credit Suisse Investments (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Investment Holdings (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Securities (Europe) Limited, One Cabot Square, London E14 4QJ, England).

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX. Details about the required disclosure of the acquisitions and the disposal positions will be provided on demand and free of charge by UBS (contact: UBS Investor Relations, +41-44-234 41 00) within two trading days via e-mail, fax or mail.

Disclosure of shareholdings as of 22 May 2008 (2)

2008-05-22T06:45:00.000+02:00

Based on changes in the group composition according to article 15 para. 5 of the Ordinance of the Swiss Federal Banking Commission on Stock Exchanges and Securities Trading (SESTO-FBC) UBS AG, Bahnhofstrasse 45, 8098 Zurich, received the following information from Credit Suisse Group, Paradeplatz 8, 8070 Zurich for publication.

As of 14 May 2008 Credit Suisse Group held a stake of 3.09% (67,014,224) of acquisition positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 16,040,625 (0.74%) registered shares with voting rights and 20,647,094 acquisition rights relating to 35,165,543 (1.62%) voting rights and 12,914,564 written disposal rights relating to 15,795,968 (0.73%) voting rights attaching to registered shares of UBS AG.

At the same time Credit Suisse Group held a stake of 3.91% (84,907,081) of disposal positions (proportion of voting rights) relating to registered shares of UBS AG. These comprised 17,576,629 disposal rights relating to 24,404,155 (1.12%) voting rights and 410,136,463 written acquisition and conversion rights relating to 60,502,926 (2.79%) voting rights attaching to registered shares of UBS AG.

Credit Suisse Group directly and indirectly holds the following acquisition and disposal positions through the following companies:

Credit Suisse Group, Paradeplatz 8, Postfach, 8070 Zürich, Switzerland indirectly through its subsidiaries Clariden Leu Holding AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland (indirectly through Clariden Leu AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland) and Credit Suisse, Paradeplatz 8, Postfach, 8070 Zurich, Switzerland, directly and indirectly through its subsidiaries Credit Suisse Holdings (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA (indirectly through Credit Suisse (USA) Inc, 11 Madison Avenue, New York, N.Y. 10010, New York, USA, indirectly through Credit Suisse Securities (USA) LLC, 11 Madison Avenue, New York, N.Y. 10010, New York, USA) and Credit Suisse International, One Cabot Square, London, E14 4QJ, England, and Credit Suisse Life (Bermuda) Ltd., Argyle House, 41 A, Cedar Avenue, Hamilton HM 12, Bermuda, and Credit Suisse Life & Pensions AG, Mühleholz 3, FL-9490 Vaduz, and Credit Suisse (International) Holding AG, Bahnhofstrasse 17, 6300 Zug, Switzerland (indirectly through Credit Suisse Investments (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Investment Holdings (UK), One Cabot Square, London E14 4QJ, England, indirectly through Credit Suisse Securities (Europe) Limited, One Cabot Square, London E14 4QJ, England).

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX. Details about the required disclosure of the acquisitions and the disposal positions will be provided on demand and free of charge by UBS (contact: UBS Investor Relations, +41-44-234 41 00) within two trading days via e-mail, fax or mail.

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 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

2008-04-25T18:45:00.000+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 AG Beijing Branch enters China's growing derivative market, successfully executing its first RMB interest rate swap trade

2008-04-22T17:45:00.000+02:00

Following UBS AG's successful application for an RMB licence in January this year and the launch of its RMB bond and Repo trading business in March, UBS has now executed its first RMB interest rate swap trade.

UBS brings annual Asia Pacific Diversity Conference to Singapore for the first time

2008-04-18T09:00:00.000+02:00

UBS launched its annual UBS Asia Pacific Diversity Conference in Singapore for the first time today with Mrs Lim Hwee Hua, Senior Minister of Finance and Transport as its keynote speaker. Held annually since 2006 in Hong Kong, the conference provides a platform for the exchange of ideas relating to diversity in the region. This year, the conference is based on the theme "Building the Leadership Pipeline in Asia."

UBS opens Fund Services office in Hong Kong

2008-04-17T07:00:00.000+02:00

UBS today announced the opening of a Fund Services office in Hong Kong. The office will provide business development and client relationship management services to fund administration clients in the Asia Pacific region.

UBS expands its wealth management services in Taiwan

2008-04-14T07:00:00.000+02:00

UBS Wealth Management announces the official opening of two bank branches in Taichung and Kaohsiung.

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 AG Hong Kong Branch Releases Financial Information

2008-03-31T07:00:00.000+02:00

UBS AG's Hong Kong Branch today released its Key Financial Information Disclosure Statement, as required by the Hong Kong Monetary Authority of overseas-incorporated authorized institutions.

UBS Lecture Series launched at Keio University

2008-03-27T13:00:00.000+01:00

UBS is to endow a lecture series at the Faculty of Economics at Keio University. The one-year program, which begins on 1st April 2008, is the first sponsorship by an international financial institution at the Faculty and UBS's first such endowment at a university in Japan.

UBS survey "Prices and Earnings"

2008-03-26T07:00:00.000+01:00

A comparison of purchasing power around the globe, 2008 update

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 Wealth Management Report "UBS research focus"

2008-03-07T10:05:00.000+01:00

Currencies: a delicate imbalance

UBS hosts second Indonesia Conference

2008-03-03T06:47:00.000+01:00

In response to the strength of international investors' interest in Indonesia, UBS will be hosting its second Indonesia Conference in Jakarta between Monday 3rd March and Wednesday 5th March.

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 names new Hong Kong Country Head

2008-02-12T13:45:00.000+01:00

UBS AG today named Chi-Won YOON as Chief Executive Officer of UBS AG, Hong Kong Branch and Country Head for Hong Kong.

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.

UBS Global Asset Management Launches UBS Asian Consumption Fund

2008-01-17T12:00:00.000+01:00

UBS Global Asset Management announced that it will launch the first investment fund in Singapore to be focused on the Asian consumption theme. The UBS Asian Consumption Fund aims to capitalize on the increasing purchasing power of Asia's young generation, which is expected to continue rising with the development of Asian economies and associated cultural change in spending attitude.

UBS Global Asset Management will not proceed with acquisition in India.

2007-12-28T14:00:00.000+01:00

UBS Global Asset Management today announced that it will not proceed with its planned acquisition of Standard Chartered Bank's mutual funds management business in India.

UBS Wealth Management Research Study: "UBS global outlook" 2008

2007-12-12T16:00:00.000+01:00

Amid choppy financial market conditions and slower economic growth, equities are poised to outperform during 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 forecasts economic outlook for Asia in 2008

2007-12-06T10:00:00.000+01:00

Asia's economic growth will slow in 2008, says UBS's Duncan WOOLRIDGE, UBS Regional Head of Economic Research. Sakthi SIVA, Strategist at UBS Investment Research believes that investors need to be aware of the region's four key investment themes: overvaluation; the Shanghai bubble; switching from domestic defensives to exporters; and the exposure of the materials sector.

M&A: Still a big deal "UBS research focus" of UBS Wealth Management Research

2007-11-21T08:00:00.000+01:00

Corporate strategic M&A will continue, but leveraged buyout deals have become harder to negotiate.

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 writes down positions, predicts an overall loss in third quarter, and reorganizes management

2007-10-01T07:00:00.000+02:00

Following a write down of positions in fixed income, rates and currencies (FIRC), mainly related to deteriorating conditions in the US sub prime residential mortgage market, UBS is likely to record an overall Group pre-tax loss of between CHF 600 million and CHF 800 million for third quarter, ended September 30. Pre-tax profits for the first nine months of 2007 will be in the order of CHF 10 billion. Marcel Rohner, Group CEO, will reorganize senior management, take over as Chairman and CEO of the Investment Bank, and accelerate structural improvements to the firm.

UBS believes solar power is one of the most compelling alternative energy sources over the long term

2007-09-12T15:00:00.000+02:00

We are at the very beginning of evolutionary change towards environmental improvement issues in Asia. The need for renewable energy is increasing as economies are becoming ever more susceptible to supply shocks with diminishing oil reserves and constantly increasing oil prices, according to the latest Q-Series®: Asia Solar.

Coal production in Asia unlikely to continue meet regional demand, according to UBS Investment Research

2007-09-11T14:00:00.000+02:00

The results of a survey of Asian power companies underpinning the latest UBS Q-Series report, Asian Utilities and Coal, show that securing sufficient coal supplies is likely to remain a long-term challenge for power plant operators in the region. In addition to polling industry expectations as to the likely direction of coal pricing and supply, UBS estimated long-term demand for thermal coal in Asia until 2020 and used Hubbert's peak analysis to determine long-term supply.

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 granted two branch licenses to operate wealth management business in Taichung and Kaohsiung

2007-08-03T12:09:00.000+02:00

UBS announced today that its application to open two more wealth management branches in Taichung and Kaohsiung has been approved by the Financial Supervisory Commission (FSC). It will bring the number of UBS branches offering wealth management products and services in Taiwan to three.

UBS Global Asset management launches UBS Hana Asset Management after acquiring Daehan Investment Trust Management Company

2007-07-27T09:00:00.000+02:00

UBS Global Asset Management announced today that it has completed its acquisition of a 51% stake in Daehan Investment Trust Management Company (DIMCO). The new joint venture will operate under the name of UBS Hana Asset Management Company Ltd (UBS Hana Asset Management) in English and Hana UBS Asset Management in Korean.

Hong Kong property prices and rents are set to increase between 15% to 40% by year-end 2008, according to UBS's latest sector forecast

2007-07-24T11:00:00.000+02:00

UBS has extended its forecast on the Hong Kong property market through to the end of 2008.

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 expands Japan Wealth Management presence with Nagoya office

2007-07-03T08:43:00.000+02:00

UBS today opened a new Nagoya office to serve high net worth clients in central Japan, underpinning UBS's commitment to growing its wealth management business in Japan. Nagoya is the third wealth management office UBS has established in Japan, following the opening of its Osaka office in March 2006 and the launch of its Japan wealth management business in Tokyo in September 2004.

UBS to offer equity execution in Pakistan

2007-05-31T10:00:00.000+02:00

UBS Investment Bank today announced that it will offer cash equity execution and a suite of comprehensive equity products in the Pakistan market. The move will significantly enhance UBS's equities execution capabilities in Pakistan's rapidly growing stock market and is in line with its commitment to provide its clients with access to a wide range of stock markets in the region.

Consolidation likely in China's developer sector while, in Hong Kong, property prices are set to increase, according to UBS

2007-05-15T13:00:00.000+02:00

Continuing credit tightening in China has the potential to trigger consolidation in the country's property development sector, while, recent policy changes implemented by the China Banking Regulatory Commission (CBRC) with regard to QDII, are likely to have a positive impact on the property sector in Hong Kong, says Eric WONG, Co-head of Asian Real Estate at UBS.

UBS reports first quarter result of CHF 3,275 million

2007-05-11T07:00:00.000+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 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

UBS Indonesia Conference 2007 reflects international investors' confidence in Indonesia

2007-05-02T09:30:00.000+02:00

Against the backdrop of Indonesia's positive economic outlook, UBS is hosting its first UBS Indonesia Conference in Jakarta that will bring together international investors and high profile Indonesian companies listed on the Jakarta Stock Exchange.

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.

UBS draws Asia's best with opening of Wealth Management Campus in Singapore

2007-04-13T12:00:00.000+02:00

UBS today officially opened the UBS Wealth Management Campus - Asia Pacific (UBS WM Campus - APAC) in Singapore. The move underpins UBS's commitment to nurture and groom the best talent in Asia and is pivotal to UBS's growth strategy in the region. The Campus was opened by LIM Hng Kiang, Minister of Trade & Industry and Deputy Chairman of the Monetary Authority of Singapore.

UBS Global Asset Management enters co-operation agreement with Vietnam's Vietcombank

2007-04-02T12:00:00.000+02:00

In one of the first agreements of its kind in Vietnam, UBS Global Asset Management and Vietnam's Vietcombank (VCB) today signed a co-operation agreement at a ceremony in Hanoi. The agreement allows the institutions to enhance their existing relationship through greater sharing of technologies, knowledge exchange, training and increased product distribution through their respective platforms.

UBS Global Asset Management Launches First Absolute Return Plus Fund in Singapore

2007-03-12T10:17:00.000+01:00

UBS Global Asset Management announced today that it has launched the UBS (Lux) Key Selection Sicav - Absolute Return Plus Fund ("UBS Absolute Return Plus Fund") in Singapore. Targeted at retail investors in Singapore, the fund aims to generate consistent, positive returns across various market conditions and is the first retail fund from UBS to offer absolute returns to Singapore investors.

UBS bolsters prime brokerage team in Asia Pacific

2007-03-07T11:00:00.000+01:00

Underscoring its commitment to the development of its prime brokerage market in Asia Pacific, UBS has announced the appointment of David GRAY as the Head of Asia Pacific Prime Brokerage, based in Hong Kong. In a separate move, Colin TAYLOR has been named Head of Australian Prime Brokerage.

UBS Securities Malaysia becomes first foreign broker in Malaysia to be granted authorised borrower status

2007-03-05T12:00:00.000+01:00

As part of the Malaysian Securities Commission's efforts to develop and deepen the country's capital markets, Bursa Malaysia has reintroduced regulated short-selling and securities borrowing and lending activities and has granted UBS Securities Malaysia authorised borrower status under the scheme.

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 Investment Bank Expands in Commodities with Creation of Agriculturals Team

2007-02-07T09:00:00.000+01:00

UBS Investment Bank is pleased to announce the creation of a new Agriculturals team within its Commodities business.

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 bolsters utility research team in Asia Pacific

2007-02-05T12:00:00.000+01:00

In recognition of the growing importance of the utility infrastructure sector in Asia Pacific, UBS has strengthened its research platform in this key area with the appointment of Stephen OLDFIELD as Head of the number one-ranked Asian Utilities research team.

Climate change: beyond whether

2007-02-02T17:00:00.000+01:00

As scientists tip 2007 to be the hottest year since records began, UBS Wealth Management Research publishes comprehensive research on what this means for investors.

Vice Chairman of UBS Global Wealth Management Relocates to Singapore

2007-02-02T11:00:00.000+01:00

Reflecting the increasing importance and strategic focus of Asia Pacific to its wealth management business, UBS AG today announced the relocation of its Vice Chairman of Global Wealth Management, Carlo A. GRIGIONI, from Switzerland to Singapore.

Unprecedented tightness in China's coal system will ensure strong demand and limited supply

2007-01-25T15:00:00.000+01:00

After three years of surging fixed asset investment, China's coal supply system continues to struggle to generate growth and faces a number of challenges that have the potential to undermine attempts to boost output. As a result, UBS remains positive on coal prices in China and dispels three popular misconceptions that suggest coal prices will fall.

Economic growth in Asia and Europe to hold up in 2007, according to UBS Wealth Management

2007-01-19T14:00:00.000+01:00

Economic growth in Asia and Europe will continue in 2007 notwithstanding the prospect of tightening fiscal policy in Europe. Against this backdrop, central banks can be expected to continue to raise interest rates, albeit cautiously, notes Dr Klaus WELLERSHOFF, Chief Economist and Head of Wealth Management Research for UBS Wealth Management & Business Banking.

UBS forecasts another strong year for Asian equity markets

2007-01-17T16:00:00.000+01:00

Earnings per share (EPS) growth and a peak in Asian interest rates will be the primary engines for Asia ex-Japan equities in 2007, according to UBS. The financials, materials, energy and technology sectors are singled out as offering particularly attractive valuations.

China stocks to maintain momentum but at a slower pace

2006-12-07T16:00:00.000+01:00

The return on equity (ROE) of Chinese companies has been on the rise since 2003 and, as their operational and managerial competence improves, so their ROEs will continue to rise but less quickly than in recent years, says Henry HO, Head of China Research at UBS Investment Bank.

In 2007 the US and European economies will lose steam, while Asia will post solid growth rates

2006-12-04T15:00:00.000+01:00

UBS Wealth Management Research Study: "UBS global outlook" 2007

The Hang Seng Index is on target to hit 21,700 by the end of 2007.

2006-11-16T08:38:00.000+01:00

But while the property market is all set to gain traction in 2007 after a flat 2006 the banking sector will remain under pressure, according to Andrew LOOK, Head of Hong Kong Research, Strategy and Product at UBS.

UBS Australia Bond Indices see record duration lengthening on 15 November 2006

2006-11-13T07:17:00.000+01:00

UBS, the provider of Australia's benchmark bond indices, today announced that the UBS Bond Australia Composite Bond Index will lengthen on November 15. As a result, investors may need to amend their holdings to remain consistent with index returns.

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 to report Third Quarter 2006 Results on October 31st

2006-10-24T17:10:00.000+02:00

The results will be presented on Tuesday, 31 October by Clive Standish, Chief Financial Officer and Tom Hill, Chief Communication Officer.

UBS is granted a 'trading code' by Vietnam's State Securities Commission

2006-10-18T11:18:00.000+02:00

UBS was recently awarded a Securities Trading Code Registration Certificate by Vietnam's State Securities Commission.

Mid-caps remain a safe haven but value remains in the small-cap universe, according to UBS

2006-10-12T08:06:00.000+02:00

With small cap stocks continuing to struggle as a result of the relatively high cost of raw materials, the rising cost of labour, and currency inflation, mid-cap stocks and larger small-caps are providing safer havens for investors. But, if you know where to look upside can still be found in the small-cap universe, said David LEPPER, Head of Regional Small Caps Research, speaking at the UBS Little Acorns Conference.

UBS sponsors the MIT - China Management Education Project

2006-09-25T16:45:00.000+02:00

UBS has entered a sponsorship agreement with the Massachusetts Institute of Technology (MIT) Sloan School of Management in support of the MIT-China Management Education Project ("the Project") over the next five years.

Inaugural UBS Global Hedge Fund Conference - Pan Asia 2006 draws 400 delegates

2006-09-21T10:24:00.000+02:00

The UBS Global Hedge Fund Conference - Pan Asia 2006 was launched in Singapore yesterday. In excess of 400 delegates attended the first leg of the three-day conference. The final two days of the conference will take place in Melbourne on 25th and 26th September. Over recent years, Asia Pacific and Singapore, in particular, have come into increasingly sharp focus as the global investor community begins allocating capital into one of the world's fastest growing regions via a wide array of trading strategies.

Unbundling of commissions - the next 'big thing' in Asian equities, according to UBS

2006-09-20T16:30:00.000+02:00

"Already widespread in the UK, unbundling of advisory and execution commissions paid to brokers is set to become an imperative for the investment management and broking community in Asia," notes Julian PICKSTONE, Head of Asian Unbundling at UBS, speaking at the UBS sponsored Unbundling in Asia - Empowering Equity Commissions conference in Hong Kong.

UBS 'breaks ground' on new Wealth Management Campus in Singapore

2006-09-12T10:30:00.000+02:00

UBS announced its plans to open the UBS Wealth Management Campus - Asia Pacific , its new wealth management training facility in Singapore today. Heng Swee Keat, Managing Director of the Monetary Authority of Singapore and Chairman of the Institute of Banking & Finance, was the Guest-of-Honour at the event. At the ceremony, UBS was presented with accreditations as both a financial training provider and an assessment service provider in wealth management for high-net worth clients by the Institute of Banking & Finance.

UBS Asia Pacific announces winners of its inaugural Stock Picking Competition

2006-08-24T07:24:00.000+02:00

Indus Capital Partners, Blue Pool Capital, Bennelong Asset Management, Lynx Arbitrage and Elliot Advisers, were winners in the inaugural UBS Asia Pacific Stock Picking Competition. In excess of 220 UBS clients from around the world participated in the competition which focused on stock performance in the first half of the year.

UBS Study "UBS research focus". Commodities: scarcity of abundance.

2006-08-23T10:00:00.000+02:00

The new report "UBS research focus" from Wealth Management Research projects continued strong growth in demand for natural resources, and cautions that supplies of natural resources will remain thinly stretched in the near term. The report projects continued shortfalls in meeting oil demand, and a peak in oil production within the next quarter century. Underinvestment in the search for base metal deposits will also limit any immediate expansion in production. Countering growing concern that the world will one day run out of precious natural resources, however, the report finds little evidence of long-term scarcity. Specifically, although the market price for energy products and base metals has risen sharply during the past few years, prices are lower than in past cyclical peaks after adjusting for inflation. Moreover, UBS forecasts that natural gas production and other fuel substitutes will likely grow in importance to meet an expected increase in overall energy use. The emergence of cost-effective fuel substitutes will enable reduced reliance on crude oil, and reserves of base metals are sufficient to meet long-term demand forecasts, says UBS.

UBS appoints Joint Head of Asia Property Research

2006-08-17T07:30:00.000+02:00

UBS Investment Bank has appointed Alastair GILLESPIE as Joint Head of Asia Property Research, working alongside Eric Wong. Gillespie, currently with UBS' number one property research team in Australia will be based in Singapore, and report to Nicholas PINK, Head of Asian research.

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 reports second quarter 2006 result of CHF 3,147 million

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

2006 UBS Study "Prices and Earnings"

2006-08-09T08:00:00.000+02:00

A global comparison of purchasing power in 71 cities around the world.

UBS to report Second Quarter 2006 Results on August 15th

2006-08-08T09:30:00.000+02:00

The results will be presented on Tuesday, 15 August by Peter Wuffli, Chief Executive Officer, Clive Standish, Chief Financial Officer and Tom Hill, Chief Communication Officer.

Despite a slowdown in headline growth, a recovery in consumption and investment spending in China bodes well for a soft economic landing, according to UBS

2006-07-27T20:45:00.000+02:00

A chronic trade surplus, exacerbated by an undervalued currency, make it an imperative for the Peoples' Bank of China (PBC) to stimulate domestic consumption and imports, according to Henry HO, Head of China Research at UBS Investment Bank. "The balancing act is to sterilise inflows without extinguishing domestic demand. And while two 0.5% reserve requirement ratio hikes in as many months suggest that the PBC is erring on the tight side, macro tightening will not lead to a significant downturn," he said.

UBS sponsors AWWA's TEACH ME Inc. BusinessAccess

2006-07-18T07:39:00.000+02:00

President S R Nathan of Singapore and Rory Tapner, Chairman & CEO of UBS in Asia Pacific, today officially opened the Asian Women's Welfare Association's (AWWA) TEACH ME Inc.'s (TM Inc.) BusinessAccess centre. UBS is a proud sponsor of the project, which aims to help disabled youths to enter the workforce, and which is in line with a key theme of UBS's global community affairs programme - 'Regeneration of the Community',

UBS splits shares 2-for-1, makes par value repayment

2006-07-10T07:00:00.000+02:00

UBS's share price will reflect a 2-for-1 share split when trading on the Swiss Exchange starts today, bringing its level more in line with other major companies listed on international financial markets. Because of the split, UBS's share price will open at roughly half Friday's closing level of CHF 132.60. With the split, shareholders will receive two new UBS shares for every old share they held on Friday (7 July 2006).

UBS's opening share price will also reflect a par value repayment of CHF 0.60 per share (pre-split). Investors who held UBS shares last Friday will receive the payment on Wednesday (12 July 2006). As announced previously, this will allow UBS shareholders to benefit from the sale of Private Banks & GAM in 2005. The repayment is exempt from Swiss withholding tax. The par value of UBS shares following both the split and the repayment will be CHF 0.10 each.

UBS shares have new security numbers. They are:

UBS bolsters regional oil & gas research team

2006-07-06T10:52:00.000+02:00

UBS has made a number of new appointments to its regional oil & gas research team adding breadth and depth to its focus on the oil and petrochemical sector.

UBS commissioned report identifies issues impacting infrastructure investment in Australia

2006-06-29T09:40:00.000+02:00

Infrastructure investment in Australia is being impacted by a number of policy and regulatory issues according to a report "The future of infrastructure," commissioned by UBS.

UBS India Service Centre in Hyderabad officially launched

2006-06-26T11:08:00.000+02:00

Underlining its commitment to India, UBS AG today officially opened the UBS India Service Centre in Hyderabad. The Centre will provide UBS businesses with knowledge services (including research and analytics), business process offshoring (including transaction and data processing), and IT infrastructure support.

UBS appoints new Head of Equities in India

2006-06-15T09:56:00.000+02:00

UBS India Securities Private Ltd has appointed Sandeep BHATIA as Head of Equities in addition to his current responsibilities as Head of India Research. The appointment became effective on 12th June

UBS expects soft-landing for the US economy

2006-06-14T11:21:00.000+02:00

UBS expects a soft-landing for the US economy but it is left to be seen whether a soft-landing can be followed by a soft (global) take-off, said Paul DONOVAN, Deputy Head of Global Economics, UBS Investment Bank, who is in KL for meetings.

Earnings growth momentum rather than liquidity or interest rates will determine the direction of the Hang Seng Index, according to UBS

2006-06-08T10:38:00.000+02:00

"Volatility in emerging markets has depressed sentiment among equity investors worldwide. However, in light of scant credit growth in Hong Kong in recent years, the market movements should be interpreted as a correction rather than as a prelude to a collapse. Accordingly, we reiterate our year end index target of 17,900 based on a 18.5% growth in pre-exceptional index EPS (earnings per share)," said Andrew LOOK, Managing Director and Head of Hong Kong Research, Strategy & Product, at UBS Investment Bank

UBS launches SUPER Notes XVI linked to 10 leading Hong Kong-listed China-related companies

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

UBS today launched SUPER Notes XVI (Series no. 16 - US dollar equity-linked notes due 2008) linked to a basket of 10 well-known China-related companies listed in Hong Kong. The Notes have a minimum coupon of 2% payable after one year and 3% payable after 2.5 years, giving a total minimum return of 5% in 2.5 years and a maximum total return of 20% in 2.5 years.

Singapore office rentals to rise by 60% by the end of 2007 and reach S$9psfpm by 2009, notes UBS REIT report

2006-05-08T10:57:00.000+02:00

The rental cost of prime office space in Singapore is expected to rise by 60% from S$5 per square foot per month (psfpm) to S$8psfpm by the end of 2007 and could test the previous peak of S$10psfpm achieved in the mid-1990s by 2010, says UBS in its latest research report on Singapore REITs (Real Estate Investment Trusts).

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

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

UBS to report First Quarter 2006 Results on May 4th

2006-04-27T13:03:00.000+02:00

The results will be presented in a live web conference on Thursday, 4 May, by Clive Standish, Chief Financial Officer, and Tom Hill, Chief Communication Officer.

UBS SDIC Funds Management Company closes inaugural fund

2006-04-26T07:45:00.000+02:00

Underscoring its commitment to China and adding to its current momentum, UBS Global Asset Management's funds management joint venture, UBS SDIC Funds Management Company, closed its inaugural fund, the Core Companies Equity Fund, on 14th April. The RMB2.7 billion (CHF430 million / USD339 million) raised, represents the largest active equity fund raising in China so far this year.

Inaugural UBS Wealth Management Associate Program for APAC launched in Singapore

2006-04-20T10:29:00.000+02:00

UBS Wealth Management is proud to announce the completion of the UBS Associate Residential Training (ART) program in Singapore, the first phase of its inaugural Wealth Management Associate Program in APAC. Launched in Asia Pacific to develop talent in the wealth management industry, the program comprises 18 months of integrated rotational training.

Annual General Meeting of UBS AG

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

Regulatory risk is key to the fortunes of Asian telecom markets, according to UBS

2006-04-11T13:13:00.000+02:00

An assessment of the potential change in risk momentum in Asia Pacific's telecom markets included in UBS's Q-Series research report, Asia Telecom - Themes and Strategy, yields a unique insight into future share prices across the region's markets. Focusing on Hong Kong, China, Taiwan, India, Korea, Thailand, Philippines and Australia/New Zealand, the report's key underlying theme is asymmetric regulation, particularly where it might be introduced, or indeed, repealed.

Lack of consolidation and strong economic fundamentals are key to the potential of India's Retail Sector, according to UBS.

2006-04-11T13:09:00.000+02:00

Speaking at UBS Securities' first India Consumer Products and Retail Conference in New Delhi, Jeffrey H. Cohen, Global Head of Retail Investment Banking at UBS, noted that although the Indian formal retail sector was in a nascent stage of development, lack of consolidation and strong economic fundamentals promise huge potential for the sector. Mr. Cohen addressed conference delegates, which included industry players, consulting firms, private equity investors and government leaders, emphasizing that India's unique demographics, culture and real-estate dynamics would require a customized approach from investors.

Kenneth Allen AM joins UBS Investment Bank as Senior Adviser - Asia Pacific

2006-04-11T13:05:00.000+02:00

UBS Investment Bank today announced that Ken ALLEN AM, the former Australian Consul-General in New York, has been appointed as a Senior Adviser - Asia Pacific.

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.

Demographics: a coming of age

2006-04-05T11:00:00.000+02:00

The world's population is aging. Families are having fewer children, medical science is extending people's lives, and the baby boom generation is entering retirement. These trends are not new. They have already been discussed in numerous studies, which, indeed, often arrive at quite somber conclusions. UBS Wealth Management Research projects, however, that countervailing forces will mitigate the negative impact of population aging on overall economic growth per capita. Even a rising transfer to older generations will leave the per capita income growth rate of the working age population at a surprisingly solid level. Demographics will also have only a mild impact on financial markets - fundamentals matter more. But the widespread demographic change through the middle of this century will have a profound impact on the products and services people demand and consequently the health and prosperity of the industries affected and their attractiveness for financial investments.

UBS Wealth Management launches World Index Basket product to capitalize on continued uptrend in global equity markets

2006-03-31T09:05:00.000+02:00

UBS Wealth Management is offering Australian investors exposure to the growth opportunities in international equity markets as well as a high level of capital protection with the launch of the UBS World Index Basket GROI product (World GROI).

UBS reiterates Malaysia's long-term value to foreign investors

2006-03-23T11:55:00.000+01:00

UBS remains bullish on the long-term value of Malaysia for foreign investors and will continue to support the Government's drive to strengthen the capital markets.

Asian REIT (ex-Japan) market cap to surpass US$75 billion by 2010

2006-03-22T11:47:00.000+01:00

Asia is home to half the world's population but with real estate space per capita pegged at one of the lowest levels in the world, prospects for growth in Asian real estate developments are bright after years of economic shocks due to the Asian financial crisis and SARS.

Inflation in Indonesia to decline to 6%-7% and GDP growth to moderate by year-end

2006-03-20T13:27:00.000+01:00

Indonesian inflation rate would decline gradually to between 6% and 7% by the end of 2006. Interest rates, which have already peaked, are expected to be cut during the third quarter of 2006. The 3-month SBI rate is expected to decline to 10% by end of 2006. However economic growth would be weaker in 2006 given the adjustment process after the one-time inflation shock in late 2005, according to Christa JANJIC, Senior Economist, Southeast Asia, UBS Investment Bank, who is in Jakarta for meetings.

Growth in Soft Commodities demand from China leads UBS Wealth Management to launch Soft Commodities structured product

2006-03-10T07:50:00.000+01:00

UBS Wealth Management launches its latest structured product - the UBS 3 yr Soft Commodity GROI, linked to the Rogers International Commodity Agriculture Excess Return Index (RICIA-ER). Offering investors 90% capital protection, it capitalizes on growth opportunities of agricultural commodities (especially in China) and will provide leveraged exposure to any positive RICIA-ER Index returns.

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 launches enhanced UBS Australia Bond Indices

2006-03-07T10:51:00.000+01:00

UBS, the provider of Australia's benchmark bond indices, today announced the launch of the new AUSBOND indices website (www.ubs.com/ausbond). The new release builds on the respected UBS Australia Bond Indices providing clients with additional functionality, including the ability to create their own customized indices.

UBS strengthens Debt Capital Markets team with two new specialist recruits

2006-02-27T07:00:00.000+01:00

UBS has appointed Fergus Blackstock and Dare Whalley to its Debt Capital Markets team within the Investment Bank in Sydney. The new appointments further strengthen the bank's financial institutions and infrastructure & utilities sector offerings.

UBS forecasts exponential growth in Asian REIT market, 50% rise in Hong Kong property prices.

2006-02-16T10:26:00.000+01:00

An uptick in the use of Real Estate Investment Trusts (REITs) by integrated property companies seeking to recycle capital has the potential to push the capitalisation of REIT markets in Asia to US$100 billion by 2010, according to Charles NEO, Co-Head of Asia Property Research at UBS Investment Bank. At the same time, Eric WONG, Co- Head of Asia Property Research, forecasts that Hong Kong residential and commercial property prices will rise by 50% over the next two years.

UBS launches Global Infrastructure & Utilities Index series

2006-02-14T07:30:00.000+01:00

UBS today announced the launch of the UBS Global Infrastructure & Utilities Index series. The new index series, calculated by Standard & Poor's - the world's leading index provider, is designed to give the financial community a stable and objective basis for evaluating the performance of the growing global listed Infrastructure & Utilities market.

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

2006-02-14T07:00:00.000+01:00

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

UBS 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.

UBS appoints Head of Philanthropy Services in Asia Pacific

2006-02-07T10:35:00.000+01:00

Underlining its commitment to philanthropic activities in Asia Pacific, UBS has appointed Terry Alan FARRIS as Head Philanthropy Services Asia Pacific. Farris will report to Henry HIRZEL, KeyClient Segment for UBS Wealth Management in Asia Pacific.

UBS to report Fourth Quarter 2005 Results on February 14th

2006-02-07T09:15:00.000+01:00

The results will be presented in a live web conference on Tuesday, 14 February, by Peter Wuffli, Chief Executive Officer, Clive Standish, Chief Financial Officer, and Tom Hill, Chief Communication Officer.

As global economic imbalances continue to grow, investors should consider shifting from traditional to non-traditional assets and absolute return structures, says UBS Wealth Management

2006-01-20T15:00:00.000+01:00

The world economy and its financial markets remain in an upward trend. But as valuations increasingly reflect fair value under the assumption of continued economic growth and low inflation, markets run the risk of becoming complacent, notes Dr Klaus Wellershoff, Chief Economist and Head of Wealth Management Research for UBS Wealth Management & Business Banking. As a result, investors should consider relinquishing traditional assets in favour of non-traditional assets classes, in particular, absolute return structures, he said.

Asian economies are unlikely to decouple from the US, but are better positioned to weather global uncertainties, notes UBS Wealth Management

2006-01-20T15:00:00.000+01:00

It would be a challenge for Asia to decouple from the US economy as the US remains the region's largest export market and China's external exposure continues to widen with slower export growth, believes Yonghao PU, Head of Asia Regional Research, UBS Wealth Management.

Global growth to slow to around 3.9% in 2006, according to UBS

2006-01-17T15:00:00.000+01:00

Speaking at the sixth UBS Greater China Conference in Shanghai, Larry HATHEWAY, Global Chief Economist and Global Head of Asset Allocation at UBS, forecast a slowdown in global growth to around 3.9% in 2006 from a growth rate of around 4.4% in 2005.

Slowdown in China's headline growth in 2006 to take place in conjunction with a recovery in domestic consumption and investment spending, according to UBS

2006-01-17T15:00:00.000+01:00

Speaking at the sixth UBS Greater China Conference in Shanghai, Jonathan ANDERSON, Chief Economist Asia Pacific at UBS, forecast a slowdown in China's headline growth from last year's 10.7% to around 9.1% in 2006. However, he emphasised that this is the result of falling net exports rather than any stalling on the domestic front.

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.

UBS launches UBS Variable-Expiry-Range-Accrual Equity Linked Investment (UBS-VERA ELI)

2005-12-12T09:05:00.000+01:00

UBS today launched UBS Variable-Expiry-Range-Accrual Equity Linked Investment (UBS-VERA ELI) - a type of equity-linked investment which provides yield-enhancement by combining attractive potential distribution amounts as well as a call feature.

Nineteen months into the credit tightening regime, economic activity challenges the bear case for China's economy prompting UBS to raise H-share index target

2005-12-05T08:28:00.000+01:00

The rebound in domestic construction activity in China is, in the view of some investors, a flash in the pan. However, Henry HO, Co-Head of China Research at UBS Investment Bank, believes that the scale of both margin erosion due to new manufacturing capacity in 2005, as well as the level of overcapacity in overheated sectors is not as severe as had been expected. As a result, UBS has upgraded its H-share index target to 6,000.

Global growth will remain relatively firm, though the composition of growth will shift as the world economy slows in 2006 and 2007

2005-11-23T08:53:00.000+01:00

Notwithstanding a likely near-term re-acceleration of activity, global growth will decelerate in 2006 and 2007. The impact of tighter monetary conditions on domestic demand in the US, combined with the absence of any further fiscal stimulus in the OECD bloc, will eventually dictate a global demand-led slowdown, according to Paul DONOVAN, Deputy Head of Global Economics, UBS Investment Bank, who is in KL for meetings.

Improving earnings growth momentum is the key driver for the Hong Kong economy, according to UBS

2005-11-08T07:00:00.000+01:00

"Earnings growth momentum rather than liquidity which has never exerted a significant influence on movement in the Hang Seng Index, is the key driver of the economy in Hong Kong," said Andrew LOOK, Head of Hong Kong strategy, at UBS Investment Bank.

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 launches its first commodity guaranteed fund

2005-10-31T11:33:00.000+01:00

UBS announced that it is launching its Commodity 3 year Guaranteed Fund today, the first in its SUPER Funds series. The Guaranteed Fund has a tenor of three years maturing in December 2008 and is 100% principal protected at maturity.

UBS to report Third Quarter 2005 Results on November 1st

2005-10-25T07:00:00.000+02:00

UBS is pleased to invite you to the presentation of its Third Quarter 2005 results via webcast and conference call. The results will be presented on Tuesday, 1 November by Clive Standish, Chief Financial Officer and Mark Branson, Chief Communication Officer.

Small cap sector to rebound from trough valuations late in the fourth quarter of this year, according to UBS

2005-10-06T08:43:00.000+02:00

Speaking at UBS's Little Acorns Investor Day in Singapore, Head of the Regional Small Cap Research Team, David LEPPER, expressed greater confidence in both valuation levels and earnings estimates for the small cap sector although he also warned that it is likely to underperform the large cap sector in the near term.

UBS presents 'The Lost Continent', a collection of 21 paintings by India's most celebrated artist, M. F. HUSAIN.

2005-10-05T08:48:00.000+02:00

UBS presents 'The Lost Continent', a collection of 21 paintings by India's most celebrated artist, M. F. HUSAIN. This is the artist's first solo exhibition in Singapore. The exhibition will be open to the public from 6-11 October 2005.

Small cap sector to rebound from trough valuations late in the fourth quarter of this year, according to UBS

2005-10-03T09:48:00.000+02:00

Speaking at UBS's Little Acorns Investor Day in Hong Kong, Head of the Regional Small Cap Research Team, David LEPPER, expressed greater confidence in both valuation levels and earnings estimates for the small cap sector although he also warned that it is likely to underperform the large cap sector in the near term.

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.

Emerging markets provide an investment opportunity in otherwise fairly priced markets, according to UBS

2005-09-16T08:38:00.000+02:00

While the economic cycle in industrialised economies has become mature, emerging markets continue to experience strong growth. With continued convergence of income and country risk to industrial country levels, emerging market equities should benefit from the renewed interest of global institutional investors, according to Dr Klaus WELLERSHOFF, Chief Economist and Head of Wealth Management Research for UBS Wealth Management & Business Banking.

Senior Management Appointments

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

UBS announces senior management appointments

Emerging markets provide an investment opportunity in otherwise fairly priced markets, according to UBS

2005-09-14T15:00:00.000+02:00

UBS enters the Hong Kong warrants market

2005-09-06T11:14:00.000+02:00

UBS today officially launches its Hong Kong warrants offerings following a soft launch in August.

UBS launches SUPER Notes XV linked to a basket of eight Hong Kong-listed companies

2005-08-23T11:15:00.000+02:00

UBS launched SUPER Notes XV (Series No. 15a and 15b). The two tranches of equity-linked Notes fall due in 2007 and are linked to the performance of eight Hong Kong-listed companies.

UBS launches Infrastructure & Utilities Index

2005-08-09T11:17:00.000+02:00

UBS and Standard & Poor's launch Australia's most relevant Infrastructure & Utilities benchmark for Investors

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 Second Quarter 2005 Results

2005-07-31T00:00:00.000+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.

LG Philips LCD US$2, 185 million global primary and secondary offering

2005-07-26T00:00:00.000+02:00

UBS Investment Bank was joint global coordinator and bookrunner of a US$2,185 million LG Philips LCD global primary and secondary equity offering consisting of ADSs (American Depositary Shares) and ordinary shares. The transaction represented the largest technology equity offering globally in 2005YTD; the largest ever technology equity offering from Asia ex Japan; the largest equity offering from Korea since 2001 and the first concurrent ADR/ordinary follow-on offering from Korea.

UBS launches SUPER Notes XII linked to a basket of three Asian indices

2005-07-25T00:00:00.000+02:00

UBS today launched SUPER Notes XII (Series No. 12). The US dollar index-linked Notes due 2010 are linked to a basket of three Asian indices - the Hang Seng Index, the SET 50 Index, and the KOSPI 200 Index.

UBS launches SUPER Notes XI linked to leading Hong Kong property stocks

2005-07-18T00:00:00.000+02:00

UBS today launched SUPER Notes XI (Series no. 11a - HKD and Series no. 11b- USD). The Notes are linked to a basket of six Hong Kong listed property companies and have a fixed coupon of 9.5% for the first year, with subsequent potential variable coupons linked to the average performance of the shares in the basket, as well as potential bonus coupon as high as 9% over their maximum lifetime of 2.5 years.

UBS is open for business in London

2005-07-08T00:00:00.000+02:00

11 July 2005: update - 08.00 BST

UBS is open for business as usual in London. The Investment Bank's 100 Liverpool Street building is fully operational.

UBS to appoint Sean Chao as Branch Manager of UBS AG, Taipei Branch.

2005-06-22T00:00:00.000+02:00

Subject to regulatory approval, UBS will appoint Sean CHAO Branch Manager for UBS AG, Taipei Branch, in addition to his existing responsibilities as UBS's Taiwan Country Head. Chao will report to Rory TAPNER, Chairman and Chief Executive Officer, Asia Pacific.

UBS holds the largest institutional investor conference in Taiwan

2005-06-20T00:00:00.000+02:00

Around two thirds of the 250 institutional investors to register for the UBS Taiwan Conference 2005 are from overseas including the US, Europe, Hong Kong, Singapore and Japan. The balance comprises domestic institutional investors. The two-day conference, which begins today, is the largest institutional investor conference ever to take place in Taiwan, and has attracted a large number of blue-chip global investors.

UBS Securities Japan and UBS AG (Tokyo Branch) report loss of client data

2005-05-30T00:00:00.000+02:00

During the course of a global upgrade of UBS's data archiving system, a hard disk containing limited data relating to past and present clients of UBS in Tokyo (both UBS Securities Japan Ltd and UBS AG Tokyo Branch) was discovered to be missing. An investigation by UBS has been launched. At this stage, UBS has no reason to believe the data have been used improperly.

Abolition of China's textile quotas provokes a whimper rather than a bang, according to UBS

2005-05-25T00:00:00.000+02:00

The abolition of the textile quota system should have been a big bang for China's textile industry but is turning out to be more of a whimper, according to Erica Poon WERKUN, a member of the Asian Small Cap research team at UBS Investment Bank. Although textile quotas were lifted almost five months ago, there has been little change in the way Chinese manufacturers and US buyers carry out their operations resulting, to a large degree, in 'business as usual'.

UBS appoints David Li Yi Chairman and Country Head of China

2005-05-24T00:00:00.000+02:00

UBS AG has appointed David LI Yi as Chairman and Country Head of China, effective 1st June 2005. Li will report to Rory TAPNER, Chairman and Chief Executive Officer of UBS in Asia Pacific.

UBS launches SUPER Notes X linked to a basket of four leading Hong Kong blue-chip stocks

2005-05-17T00:00:00.000+02:00

UBS today launched SUPER Notes X (Series no. 10a - HKD and Series no. 10b- USD) linked to a basket of four blue-chip stocks listed in Hong Kong. The US dollar-denominated Notes have a fixed coupon for the first year of 10% and the Hong Kong dollar-denominated Notes a fixed coupon of 9% over the same period. Both tranches have a two-year tenor and mature in 2007.

UBS upbeat on Thailand's Oil and Chemical Industries

2005-05-12T00:00:00.000+02:00

An optimistic tone prevailed at UBS's Thailand Oil and Chemical Conference in Bangkok last month. UBS analysts are positive on the country's oil and chemical sectors, believing that the market has only just began to fulfil its growth potential.

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.

UBS to announce first quarter results

2005-04-26T00:00:00.000+02:00

UBS is pleased to invite you to the presentation of its First Quarter 2005 results via webcast and conference call. The results will be presented on Tuesday, 3 May by Clive Standish, Chief Financial Officer and Mark Branson, Chief Communication Officer.

Annual General Meeting of UBS AG

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

UBS launches SUPER Notes IX linked to leading Hong Kong blue chip stocks

2005-03-22T00:00:00.000+01:00

UBS today launched SUPER Notes IX (Series no. 9a - HKD and Series no. 9b- USD) linked to a basket of three blue chip stocks listed in Hong Kong. The Notes have a fixed coupon of 10% for the first nine months and target a coupon of 11.5% over their maximum lifetime of 2.75 years.

Cathay Securities Investment Trust and UBS Global Asset Management, Taiwan to form strategic asset management alliance

2005-03-15T00:00:00.000+01:00

Cathay Securities Investment Trust and UBS Global Asset Management, Taiwan today announced the formation of a strategic asset management alliance. The partners have signed a Letter of Intent (LOI) which will allow them to share investment expertise and distribution channels, cooperate in product development, and promote the exchange of knowledge.

Philippines turns the fiscal corner - says UBS

2005-03-10T00:00:00.000+01:00

Recognizing the fiscal progress in the Philippines, UBS Investment Research upgrades its Peso and GDP forecasts for the Philippines for 2005 and 2006.

Increased inflows bode well for Hong Kong consumption, investment and the housing sector, according to UBS

2005-02-23T00:00:00.000+01:00

The lowering of barriers to PRC tourists and businesses, and the increase in flows south into the Special Administrative Region are rebutting the fear that a low-cost China would 'hollow-out' Hong Kong, according to Franklin LAM, Head of Hong Kong Equities at UBS. Lam believes the demand for Hong Kong services driven by increased prosperity in China should lead Hong Kong people to accept that the Hong Kong economy will be a net gainer from its integration with the Chinese economy. This renewed optimism in Hong Kong should buoy the housing sector.

Economic soft landing in China to prompt a broad but mild earnings recovery post 2005, according to UBS

2005-01-25T00:00:00.000+01:00

While investors have been wary of economic overheating in China and the possibility of large earnings downgrades, the market was derated by over 30% in terms of P/E in 2004, noted Henry HO, Co-Head of China research at UBS Investment Bank speaking at the UBS Greater China Conference in Shanghai.

China's economy set to slow down from 11.5% in 2003 to 8.2% this year, according to UBS

2005-01-24T00:00:00.000+01:00

In 2003, UBS estimated real GDP growth in China at 11.5% - an extremely high rate both by historical measures and compared to estimates of sustainable medium-term growth which generally run from around 7% to 9%. Equally disconcerting was the fact that growth deceleration was due almost completely to an expansion in fixed asset investment, while total consumption growth momentum was flat, noted Jonathan ANDERSON, Head of Asia Pacific Economics at UBS Investment Bank, who was speaking at the UBS Greater China Conference in Shanghai.

UBS and SDIC to form a funds management joint venture in China

2005-01-11T00:00:00.000+01:00

Subject to approval by the China Securities Regulatory Commission (CSRC), UBS and the the State Development Investment Corporation (SDIC) will form a joint venture funds management company through the purchase by UBS of a 49% stake in Shenzhen-based China Dragon Fund Management Co. Ltd (China Dragon).

Francis Yu joins Wealth Management in Hong Kong and Michael Chin appointed head of Taiwan equities.

2004-12-16T00:00:00.000+01:00

After 10 years leading UBS's number one ranked equities business in Taiwan, Francis YU will be relocating to Hong Kong to join UBS Wealth Management. Michael CHIN, currently head of UBS's market leading equities business in Korea, will replace Yu as head of Taiwan equities.

Michael Chin appointed Head of Equities for UBS in Taiwan and replaced by Young Chang.

2004-12-16T00:00:00.000+01:00

Michael CHIN has been appointed Head of Equities for UBS in Taiwan. Young CHANG, currently Head of Research and Equity Strategy in Seoul will succeed Chin as Head of Equities for UBS in Korea and as co-Branch Manager of UBS Securities Seoul Branch.

Rising energy costs and fierce competition in the industrial sector are exacerbated by China's uncertain energy policy, according to UBS

2004-12-08T00:00:00.000+01:00

China is already a major consumer of energy and, as urbanisation progresses over the coming five years, its appetite is unlikely to abate. However, despite the Government's avowed determination to address the problem, its energy policy remains piecemeal notes, Joe ZHANG, Co-Head of China Research at UBS.

UBS bolsters regional equity sales team with hire of Fidelity veteran

2004-11-16T00:00:00.000+01:00

UBS announced that it has appointed Wanni LIN as Regional Sales and Account Manager. Lin will be based in Singapore and report to Christina GAW, Head of Asian Regional/Sector Sales.

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 launches Asian Treasures SUPER Note

2004-10-11T00:00:00.000+02:00

UBS today launched the Asian Treasures SUPER Note linked to a basket of stocks listed on five of the leading stock markets in Asia. The Note's coupon linked to the performance of the stocks. With 100% of the principal protected, the Notes feature a step-up coupon after the first year.

UBS launches 5-Year Long-Short SUPER Notes

2004-09-20T00:00:00.000+02:00

UBS today launched the 5-Year Long-Short SUPER Note which offers investors potential returns in both bull and bear markets. With 100% of the principal protected, and offering both "Long" and "Short/Hold" strategies, after the first year the instruments offer a coupon linked to two baskets of pan-Asian listed stocks.

Rising natural reverse flows from China to Hong Kong have the potential to ease fears of 'hollowing out', notes UBS

2004-09-15T00:00:00.000+02:00

Recently implemented measures aimed at facilitating mutual people and business flows between Hong Kong and China stand to reverse the dominant perception in Hong Kong that Hong Kong is being 'hollowed out' by China and give way to 'filling in' optimism that will spur spending and investment, according to the latest UBS Natural Reverse Flow (NRF) research.

UBS bolsters Asian Prime Brokerage and Equity Finance teams

2004-09-14T00:00:00.000+02:00

Underlining its commitment to the provision of on-the-ground resources to its clients in Asia, UBS has announced a series of appointments to its prime brokerage and equity finance teams in the region.

China and India - the consumer markets of tomorrow - face significant but different economic and social challenges

2004-09-09T00:00:00.000+02:00

China's and India's combined share of world gross domestic product has more than doubled to 16% during the last 25 years, notes UBS Wealth Management in a recently published report: "China and India: The steady progression towards two consumer markets". By 2030, the combined purchasing power of Chinese and Indian consumers will be five times greater than that of those in the United States. While economic expansion will offer investment opportunities, in both countries, these will depend on the increasing openness of local capital markets.

UBS and Youth Outreach join forces to help young people in Hong Kong to enter the labour market

2004-08-12T00:00:00.000+02:00

"Typically, the young people sleeping rough in Hong Kong have little education and few skills. The support UBS is providing to the Youth Outreach Express courier service will enable a number of them to take their first step into the labour market and prove to prospective future employers that they are able to work hard and hold down a regular job," said Peter NEWBERY, Executive Director of Youth Outreach.

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 acquires US$185 million of non-performing loans from state-owned Huarong Asset Management

2004-08-06T00:00:00.000+02:00

UBS has signed an agreement with China Huarong Asset Management Corp to purchase its US$185 million non-performing loan portfolio.

Potential for 10% to 15% gains on Asian equities, according to UBS

2004-07-22T00:00:00.000+02:00

While the more pessimistic investors in Asia and the US are suggesting that Asia is at peak cycle earnings, Sakthi SIVA, Managing Director and Head of Asian Equities Strategy at UBS argues that Asia is in fact at peak cycle EPS growth and sees the possibility for 10% to 15% gains.

Deflation risk remains if policy makers fail to respond to changes in monetary policies, notes UBS

2004-07-08T00:00:00.000+02:00

Following recent changes in the monetary policy environment, most notably in the US, central banks have clearly been flooding their banking system with liquidity. However, they have not yet guaranteed that banks are, or will, use their excess reserves to lend aggressively to the private sector, says Paul Donovan, UBS's Deputy Head of Global Economics.

UBS Finance Academy 2004

2004-07-06T00:00:00.000+02:00

UBS investing in schoolkid's futures

UBS hires leading utilities, power and infrastructure team

2004-06-29T00:00:00.000+02:00

UBS, Australia's leading investment bank, announced today that it has hired the leading Utilities, Power and Infrastructure investment banking team led by David di Pilla.

UBS appoints David Aufhauser Global General Counsel for UBS's Investment Bank

2004-06-25T00:00:00.000+02:00

UBS announced today the appointment of David Aufhauser to the position of Global General Counsel for UBS's Investment Bank and to UBS General Counsel, North America.

UBS to launch Australian indices if news corp is removed form the index

2004-06-24T00:00:00.000+02:00

UBS will launch a series of Australian indices as an alternative benchmark for investors if News Corporation is removed from the official indices later this year or early next year.

UBS launches Absolute Return 5 Year SUPER Notes

2004-06-23T00:00:00.000+02:00

UBS today launched the Absolute Return 5 Year SUPER Note which offers prospective gains irrespective of market conditions. Linked to a basket of 25 Hong Kong stocks, the equity-linked notes are principal-protected and offer potential returns regardless of rising, falling or volatile markets.

Halloran Appointed Co-Head Asia Pacific Credit Trading

2004-06-07T00:00:00.000+02:00

UBS AG (Tokyo Branch) has appointed Michael HALLORAN as Co-Head of Credit Trading, Asia Pacific.

UBS Investment Bank announces changes to the benchmark UBS Australia Bond Indices

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

UBS, the provider of Australia's benchmark bond indices, has finalised several changes to the current suite of UBS Australia Bond Indices after a significant period of stakeholder discussions. The changes will take effect from 1 February 2005.

UBS ranked number one in Institutional Investor All Asia Research Rankings for third consecutive year

2004-05-18T00:00:00.000+02:00

UBS has been named the leading provider of research, institutional equity sales and trading & execution in Asia and Australia ex Japan in Institutional Investor's All-Asia Research 2004. On an unweighted basis, UBS maintained the number one position in equity research that it has for the last two years with a market share of 17%. On a weighted basis, a market share of 24% supported the number-one ranking. UBS's weighted total of 77 rankings compared with 43 for the second-placed broker.

St George Margin Lending lists UBS Moderately Geared Instalments as Approved Securities

2004-05-13T00:00:00.000+02:00

UBS AG, Australia today announces that St. George Margin Lending (SGML) has approved UBS Moderately Geared Instalments as securities able to be purchased with funds from the SGML margin lending facility. SGML is one of the first major margin lenders in Australia to include instalment warrants from a third party issuer on its Approved Securities list.

Aurora Funds Management to distribute UBS Protected Equity Loans

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

UBS AG, Australia Branch today announces that it has reached an agreement with Aurora Funds Management to distribute the UBS Protected Geared Investment product (PGI) through selected Australian brokers and financial planners to the end of the 2003/2004 financial year.

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

Kambhato appointed Head of Investment Banking for UBS in Thailand

2004-04-20T00:00:00.000+02:00

UBS has appointed Phumchai KAMBHATO as Head of Investment Banking in Thailand.

UBS appoints Matt Pecot as Head of Equity Finance in Hong Kong

2004-04-19T00:00:00.000+02:00

UBS has appointed Matt PECOT as Head of Equity Finance in Hong Kong, effective 14th April 2004. Pecot will oversee UBS's prime brokerage and equity finance activities in Asia, and will be jointly responsible, along with Mas IWATA, for all equity finance activities in Asia Pacific. In a separate move, Sangkyo LEE has joined UBS's equity swaps trading desk in Hong Kong from Samsung Securities in Korea.

Annual General Meeting of UBS

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

UBS appoints David Graham General Counsel - Asia Pacific

2004-04-14T00:00:00.000+02:00

UBS has appointment David GRAHAM as General Counsel - Asia Pacific, effective 10th May 2004. Graham replaces Kath CATES who became Regional Operating Officer - Asia Pacific, and a member of the UBS Investment Bank Board earlier this year.

UBS AG Hong Kong Branch Releases Financial Information

2004-03-31T00:00:00.000+02:00

UBS AG's Hong Kong Branch today released its Key Financial Information Disclosure Statement, as required by the Hong Kong Monetary Authority of overseas incorporated authorized institutions.

Felice Chen appointed Co-Head Investment Banking for UBS in Taiwan

2004-03-30T00:00:00.000+02:00

Felice CHEN has been appointed Co-Head of Investment Banking ("IBD") for UBS in Taipei. Chen will work closely with Sean CHAO, Country Head and Branch Manager for UBS in Taiwan, in managing the IBD business in Taiwan. The appointment becomes effective on 2nd April, 2004. Chen will report to Co-Heads IBD Asia, Peter BURNETT and Robert RANKIN.

Equities Management team change

2004-03-29T00:00:00.000+02:00

John Carter and John Steinthal, co-heads of the Australralisian equities business are stepping down from their executive management positions. Both will continue their association with UBS in an advisory capacity, particularly focusing on new business opportunities.

Rory Tapner appointed Chairman and Chief Executive Officer for UBS in Asia Pacific

2004-03-16T00:00:00.000+01:00

Rory TAPNER has been appointed Chairman and Chief Executive Officer for UBS in Asia Pacific. The appointment becomes effective on 1st May 2004. He will report directly to Peter WUFFLI, CEO of UBS.

Jenny Lin joins UBS's fixed income sales in Taiwan

2004-03-10T00:00:00.000+01:00

In its continuing effort to meet the needs of its clients more effectively and efficiently by basing experienced fixed income and rates professionals on the ground in major markets in Asia, UBS today announced the appointment of Jenny LIN to its Asian fixed income sales team. Lin will be based in Taipei and joins UBS from Citibank.

UBS to act as agent for SG Australia Ltd's instalment warrant business

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

Today, we announce UBS Securities Australia Limited agreed to act as SG Australia Limited's instalment warrant administrator. UBS will administer the market making in instalment warrants on the Australian Stock Exchange.

UBS suspends small companies research analyst Nicholas Tan

2004-02-27T00:00:00.000+01:00

UBS immediately suspended Hong Kong-based small companies research analyst Nicholas TAN following his arrest by law enforcement agencies of the Government of the Hong Kong Special Administrative Region on Thursday 26th February in relation to ongoing investigations into Kwong Hing International Holdings.

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.

Business Group Results

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

Wealth Management & Business Banking
Wealth Management's full-year 2003 pre-tax profit, at CHF 2,609 million, increased 4% from 2002, mainly due to the recovery in financial markets which resulted in higher recurring asset-based fees during the second half of the year. Net new money inflows for the year totaled CHF 29.7 billion, up 68% from the 2002 result, driven by particularly strong inflows into the European wealth management business and from Asian clients.

In fourth quarter 2003, profit before tax stood at CHF 705 million. This 1% decline from third quarter reflected a drop in fee income on seasonally low transaction volumes and the negative impact of the US dollar's fall against the Swiss franc. These factors were only partially offset by lower personnel expenses. The business unit's cost/income ratio increased by 1 percentage point to 60%.

Business Banking Switzerland reported a pre-tax profit of CHF 2,153 million for full-year 2003. This 9% increase on the 2002 result was achieved despite the difficult market conditions at the outset of the year. The improvement reflects both continued tight management of the cost base and the structural improvement in the domestic loan portfolio in recent years.

Fourth quarter pre-tax profit was CHF 547 million, up by 4% from third quarter, mainly due to lower expected credit loss expense and a drop in performance-related compensation following the determination of bonuses in fourth quarter.

Global Asset Management
Global Asset Management reported a pre-tax profit of CHF 332 million for full-year 2003, up 52% from the 2002 result. The equity market recovery in the second half of the year, coupled with strong inflows into alternative investments, equities and fixed income mandates, resulted in higher invested asset levels and, consequently, increased asset-based revenues. Performance-related fees, especially in the alternative and quantitative business, grew significantly over 2002. Ongoing cost control initiatives reduced operating expenses, further underpinning profitability.

For full-year 2003, net new money inflows in the institutional business stood at CHF 12.7 billion, improving significantly from the outflows of CHF 1.4 billion recorded in 2002. The wholesale intermediary fund business reported a net new money outflow of CHF 5.0 billion in 2003 (compared with an outflow of CHF 6.3 billion in 2002). The net outflow in 2003 was entirely attributable to outflows in money market funds related to the launch of UBS Bank USA. Before the bank's launch in third quarter 2003, private-client cash balances in the US were swept into money market funds. Now they are redirected automatically into FDIC-insured deposit accounts.

In fourth quarter 2003, Global Asset Management's pre-tax profit was CHF 112 million, up 29% from third quarter. A fall in performance-related fees was more than offset by lower incentive-based compensation and general administrative expenses.

Investment Bank
The Investment Banking & Securities business unit recorded a pre-tax profit of CHF 4,078 million in full-year 2003. This 30% increase from 2002 reflects strong performance in all our businesses. In particular, the Fixed Income, Rates and Currencies business posted a record result, reflecting the breadth of its capabilities and the expansion of its franchise. At the same time, costs remained under control. In full-year 2003, the compensation ratio fell to 51% from 55% in 2002. Annual performance-related payments are driven by the revenue mix across business areas and are managed in line with market levels.

Pre-tax profit in fourth quarter 2003 stood at CHF 1,153 million, up 122% from the same period last year and 19% higher than in third quarter 2003. This represented the best quarterly result since first quarter 2001. Revenues increased by 22% from fourth quarter 2002. Performance was strong in all business areas. Revenues from the Fixed Income, Rates and Currencies business were 32% higher than in fourth quarter 2002. In the Equities business, income increased 17% on strong primary revenues. At the same time, improved revenues from client trading commissions and equity finance more than offset adverse currency movements. In Investment Banking, revenues rose 15%, reflecting competitive gains that lifted global market share to 5.6% from 4.6%. Moreover, UBS advanced to fourth place in 2003 from seventh a year earlier in Freeman's investment banking fee rankings.

Operating expenses in fourth quarter 2003 remained largely unchanged from the same quarter a year earlier, as a revenue-driven increase in personnel expenses largely offset the impact of currency movements. The cost/income ratio was 66% in fourth quarter 2003. Excluding goodwill amortization, it fell to 64% from the 78% reported in fourth quarter 2002. This reflects the sharp downward correction of the compensation ratio reflecting the final determination of bonuses.

Private Equity recorded a pre-tax loss of CHF 189 million in full-year 2003. The marked improvement on the pre-tax loss of CHF 1,761 million in 2002 reflects much lower levels of writedowns and a number of successful exits in 2003.
For fourth quarter 2003, the unit reported a pre-tax profit of CHF 60 million, attributable to the realization of capital gains on successful exits.

Wealth Management USA
The Wealth Management USA business was well positioned to benefit from the improvement in investor sentiment and market conditions in 2003. Net new money inflows of CHF 21.1 billion over the year reflected the strong appeal of its advice and services. In US dollar terms, this represents a 14% increase over the net new money attracted in 2002.

Including acquisition costs (goodwill amortization, net goodwill funding and retention payments), the Business Group reported a pre-tax loss of CHF 5 million in full-year 2003 compared to a loss of CHF 1,800 million in 2002. Excluding significant financial events**** and before acquisition costs, operational performance showed a profit of CHF 664 million in 2003, compared to CHF 632 million in 2002.

In fourth quarter 2003, Wealth Management USA reported a pre-tax loss of CHF 10 million. Before acquisition costs, and excluding significant financial events, pre-tax profit increased 6% from third quarter to CHF 181 million. On the same basis, but in US dollars, the operating result was 12% higher than in third quarter, reflecting a record level of recurring fees and higher net interest and transactional revenues, as well as increased municipal securities revenues.

James Hong appointed Chairman of UBS Global Asset Management Greater China

2004-02-09T00:00:00.000+01:00

In line with UBS Global Asset Management's commitment to increasing its focus on China, James HONG, previously head of the Alternative Investment Strategies (AIS) group, has been appointed Chairman of UBS Global Asset Management for Greater China.

UBS sees rise in risk premium in Thailand as temporary and recommends investors to maintain focus on Thai equities

2004-02-04T00:00:00.000+01:00

While over the past two weeks the Stock Exchange of Thailand (SET) has fallen by 13% from its intra-year high as a result of deteriorating sentiment over the outbreak of avian influenza, the rise in risk premium remains temporary and investors should remain focused on Thai equities at current levels, according to analysts at UBS.

RZB-Austria chooses UBS AG as its CLS third-party provider

2004-01-14T00:00:00.000+01:00

Raiffeisen Zentralbank Österreich AG (RZB) is the 50th CLS third-party client of UBS. With this partnership, RZB and its subsidiaries will be able to execute and settle their cross-border foreign exchange transactions through the CLS global settlement system. In the current environment of rising fix costs and shrinking margins, CLS delivers a much-needed reduction in the marginal cost of doing business.

Vienna based RZB is the central institution of the Austrian Raiffeisen Banking Group, one of the country's leading banking groups. As a universal banking group it offers a comprehensive range of financial services. RZB itself is one of Austria's leading commercial and investment banks and a leading bank in Central and Eastern Europe. It also considers Central and Eastern Europe as its home market, where RZB operates a network of 15 subsidiary banks with more than 800 banking outlets in 16 markets of the region. RZB also has a strong presence throughout Asia and in the world's financial centers. It is one of the most active European FX traders, with a 24 hours activity in this business field.

RZB's Global Treasurer, Mr. Armin Steppan, commented, The quality of UBS's services and strengths in technology has given us the confidence to further increase our partnership. CLS marks the future of FX settlement and with UBS we made the right decision."

Martin Wiedmann, Global Head Foreign Exchange Distribution at UBS Investment Bank, Zurich said, This partnership underlines our capacity to implement sophisticated clients like RZB. As a leading bank in Austria and in Central and Eastern Europe, RZB is our perfect partner to develop an integrated "front to back" cash model."

CLS third-party services are a part of "UBS. The Bank for Banks.", a programme which offers banks and financial Institutions a wide range of modular services enabling them to concentrate on their core competencies and deploy their resources more effectively. At the same time, UBS can make optimum use of its own capacities and expertise to meet the needs of its clients. www.ubs.com/b4b.

For more information see: www.ubs.com/b4b Zurich/Basle, 14 January 2004
UBS

Twenty institutions now access CLS through UBS

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

Saxo Bank has become the 20th institution to sign up with UBS as an active CLS third-party client. By entering into this partnership, Saxo will be able to execute and settle its cross-border foreign exchange transactions through the CLS global settlement system.

UBS proposes three candidates for election to Board

2003-12-23T00:00:00.000+01:00

The UBS Board of Directors will propose three candidates for election to the Board at the Annual General Meeting (AGM) on 15 April 2004. The nominees are Stephan Haeringer, Helmut Panke and Peter Spuhler.

Trevor Loewensohn joins the UBS team

2003-12-17T00:00:00.000+01:00

UBS today announces the appointment of Trevor LOEWENSOHN as Vice Chairman, Investment Banking, Australia & New Zealand.

While the opening of China's domestic stock markets to foreign investors is a watershed, further reform will aid economic efficiency, notes UBS

2003-12-02T00:00:00.000+01:00

Vincent CHAN, Chief Strategist, China at UBS, has emphasised the importance to China's economy of removing the restriction on the transferability of non-tradeable shares in China's A-share market. At present only 35% of total share capital is tradeable, with the balance (most classified as state-owned shares or legal person shares) being non-tradeable.

UBS sweeps the board in Thailand in Asiamoney Brokers' Poll

2003-11-26T00:00:00.000+01:00

For the second year running UBS has been voted number one for equity research, execution, sales and trading in Thailand in Asiamoney's Brokers' Poll. UBS was ranked number one in all but one sector under consideration and garnered almost double the number of points of its nearest competitor for Best Overall Country Research.

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 granted a Representative Office licence in the Republic of the Philippines.

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

UBS AG today announced that, consistent with its strategy of selectively increasing its focus on the markets of South East Asia, it has been granted a Representative Office licence in the Republic of the Philippines. The representative office is in addition to UBS Securities Philippines Inc. ("UBS Securities"), which was established in 1996.

UBS to boost China research coverage

2003-11-06T00:00:00.000+01:00

UBS today announced that it plans to increase its research coverage of China stocks by in excess of 50% over the coming months.

UBS appoints Robert Rankin Joint Head of Investment Banking in Asia as Mark Dowie relocates to London

2003-11-04T00:00:00.000+01:00

After three years as Joint Head of UBS's Investment Banking business in Asia (ex Japan), Mark DOWIE will relocate to London in January 2004 to assume a senior coverage role in the European IBD business. Robert RANKIN, currently Head of Telecom, Media and Technology, replaces Dowie as Joint Head of Investment Banking - Asia (ex Japan), alongside Peter BURNETT.

UBS strengthens Taiwan Equity Risk Management team

2003-10-28T00:00:00.000+01:00

Alex CHI has joined the UBS Equity Risk Management team in Hong Kong with responsibility for marketing Taiwan derivative products in the region. He will report to Chi-Won YOON, Head of Asian Equity Risk Management.

UBS fills US$300 million Qualified Foreign Institutional Investor (QFII) Quota

2003-10-15T00:00:00.000+02:00

UBS today announced that it had filled its initial US$300 million quota under China's recently established QFII programme.

UBS strengthens Asian Prime Brokerage with appointment of Joseph Cavatoni

2003-10-14T00:00:00.000+02:00

Joseph CAVATONI has been appointed as Head of Equities Collateral Trading at UBS's Prime Brokerage unit in Hong Kong. In the newly-created position, Cavatoni will be responsible for servicing UBS's hedge fund clients in Asia Pacific.

UBS AG Hong Kong Branch Releases Financial Information

2003-09-30T00:00:00.000+02:00

UBS AG's Hong Kong Branch today released its Key Financial Information Disclosure Statement, as required by the Hong Kong Monetary Authority of overseas incorporated authorized institutions.

Simon Bunce appointed as President and Chief Executive Officer for UBS Securities Japan

2003-09-29T00:00:00.000+02:00

UBS Securities Japan Limited (UBSSJL), the principal UBS Investment Bank operating entity in Japan, has named Simon BUNCE as President and Chief Executive Officer.

UBS opens global technical services centre in Australia

2003-09-18T00:00:00.000+02:00

The Hon. Bob CARR MP, Premier of NSW and Clive STANDISH, Chairman and CEO Asia Pacific, Member of Group Executive Board, UBS AG, today opened the UBS Global Services Centre, a new IT facility in the northern Sydney suburb of St Leonard's.

Brad Orgill appointed Branch Manager UBS Singapore

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

UBS AG, Singapore Branch has appointed Brad ORGILL as Singapore Branch Manager and Country Head. This allows previous incumbent, Robin TOMLIN to focus entirely on his responsibilities as Vice Chairman of UBS Asia.

UBS Investment Bank appoints Sally Ng as Joint Head of Asian Banking Research

2003-09-15T00:00:00.000+02:00

Sally NG has been appointed Joint Head of Asian Banking Research alongside John WADLE who has headed banking research in Asia at UBS since early 2001. Ng will assume direct responsibility for Hong Kong and China.

"Prices and Earnings", a UBS report

2003-08-19T00:00:00.000+02:00

A comparison of purchasing power around the globe / 2003 edition

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 launches principal-protected SUPER Notes linked to Asian blue-chip stocks

2003-08-04T00:00:00.000+02:00

UBS today announced the launch of Hong Kong's first publicly-registered principal-protected notes with returns linked to a basket of blue chip Asian stocks.

UBS SARS Research Foundation donates in excess of HK$5 million to fund research at the University of Hong Kong

2003-07-30T00:00:00.000+02:00

The UBS SARS Research Foundation today presented a cheque for HK$5.5 million to the Faculty of Medicine at the University of Hong Kong to support its research into the SARS virus.

Corporations, clients and friends of UBS rally to support the UBS SARS Research Foundation

2003-07-18T00:00:00.000+02:00

UBS, in cooperation with the Faculty of Medicine at the University of Hong Kong ("HKU"), today announced that donations to the UBS SARS Research Foundation from corporate and individual donors has exceeded HK$2.5 million.

UBS further strengthens Korea research team with the appointment of new Head of Equity Research and Korea economist

2003-06-19T00:00:00.000+02:00

UBS Investment Bank has appointed Young W CHANG as an Executive Director and Head of Equity Research and Duncan WOOLDRIDGE as an Executive Director and a member of the Asia Economics team with a primary focus on Korea and Taiwan.

UBS launches the UBS SARS Research Foundation

2003-06-11T00:00:00.000+02:00

UBS, in cooperation with the Faculty of Medicine of the University of Hong Kong ("HKU"), today launched the UBS SARS Research Foundation Limited, a charity wholly-administered by UBS with the primary objective of providing funding for research conducted by the University of Hong Kong into SARS and other infectious diseases.

UBS has initial QFII investment quota of USD300 million approved

2003-06-09T00:00:00.000+02:00

China's State Administration of Foreign Exchange ("SAFE") today announced on Friday 6th June that it has approved a USD300 million initial Qualified Foreign Institutional Investor ("QFII") quota for UBS, the global investment bank, asset management and wealth management firm.

UBS executes first Qualified Foreign Institutional Investor (QFII) transaction

2003-06-09T00:00:00.000+02:00

UBS, the global investment bank, wealth manager and asset manager today placed the first order under China's recently introduced QFII programme to allow foreign investors to participate in China's domestic securities market.

UBS - One Firm, One Brand

2003-06-09T00:00:00.000+02:00

UBS, the global wealth manager, asset manager and investment bank, today adopted the single "three keys" UBS brand across all its businesses. The move not only simplifies the firm's branding structure but better reflects the "one firm" approach that UBS's integrated business model delivers to clients.

UBS First Global Investment Bank to be granted Quali-fied Foreign Institutional Investor (QFII) status

2003-05-26T00:00:00.000+02:00

Further strengthening its China franchise, UBS was today granted official approval from the China Securities Regulatory Commission (CSRC) as a Qualified Foreign Institutional Investor in China. In November 2002, the CSRC formally announced that foreign investors who qualify as QFII can participate in the domestic securities market.

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 Global Asset Management creates additional business structures to enhance client focus and build for the future.

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

UBS Global Asset Management, a business group of UBS AG, today announced that it will create two additional business structures - one for alternative and quantitative investments, the other for global real estate. This will enhance investment and client focus while providing a solid foundation for growth and future expansion.

UBS Warburg Implements Redefined Rating System

2003-01-13T00:00:00.000+01:00

UBS Warburg today announced that it has implemented its previously announced redefined rating system that provides greater clarity and detail in the firm's Equity Research recommendations to clients. The changes, first announced on October 23, 2002, go into effect globally across the 3,000 companies covered by UBS Warburg Equity Research.

"Our goal is to provide our clients with independent and thoughtful ideas," said Tom Hill, Global Head of Equity Research for UBS Warburg. "We believe the enhancements we have made will improve clients' understanding of our research conclusions and will be valuable to institutional and retail clients alike."

Each rating will consist of a recommendation in combination with a predictability level*.

* Recommendation - Each stock will continue to carry a price target that will determine predicted excess return over the current share price**. The recommendation will reflect the analyst's predicted excess return on the stock - "Buy" (greater than 15% excess return), "Neutral" (less than or equal to 15% and greater than or equal to - 15% excess return potential) and "Reduce" (less than - 15%).

* Predictability - The predictability level will reflect the degree of certainty an analyst has in his/her price target forecast. Predictability will be identified by a "1" (indicating higher predictability) or a "2" (indicating a lower predictability). Predictability will take into account uncertainty in cash flow estimates and uncertainty in discount rate estimates.

"By combining a simplified rating system with a predictability level, UBS Warburg has made the research process easier to understand and at the same time more comprehensive," said Alan Hodson, Global Head of Equities.

Analysts will continue to set price targets that they expect their shares to reach within a 12-month period.

Enquiries:

Amy Rosenberg, Media Relations +1 212-713-8510
Sam Smith, Media Relations +44 20 7568 9982

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 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 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 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 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 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 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 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: 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.