Latest media releases - Global home

UBS voted number one Pan European Equity House for tenth consecutive year

2013-06-10T16:30:00.000+02:00

UBS Optimus Foundation plans to raise 65 million Swiss francs to improve nutrition for children

2013-06-10T12:15:00.000+02:00

UBS Optimus Foundation is partnering with government and private donors in a major new global initiative to put nutrition at the centre of the development agenda. The Foundation plans to raise 65 million Swiss francs for these efforts over the next eight years. This significant scale-up will dramatically improve children's nutrition, reduce stunting, and help prevent death from under-nutrition.

UBS Global Asset Management listet einen neuen ETF auf den Rohstoffindex UBS Bloomberg CMCI an der Deutschen Börse XETRA

2013-05-24T11:52:04.000+02:00

Results of the Annual General Meeting of UBS AG

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

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

UBS's first-quarter 2013 result

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

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

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

Eric Byrne appointed head of real estate multi-manager platform

2013-04-22T11:00:00.000+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

Mark Yallop, UK Group Country CEO

2013-03-15T10:45:00.000+01:00

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.

UBS Global Asset Management lists three Exchange Traded Funds (ETFs) tracking commodities indices on the LSE

2013-02-08T14:00:00.000+01:00

UBS to buy back outstanding bonds in public tender offers

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

UBS's fourth-quarter 2012 results

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

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

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

UBS-CLOVA is the best performing unlisted real estate fund in calendar year 2012

2013-01-25T08:00:00.000+01:00

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

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

UBS appoints James B. Broderick as CEO Wealth Management UK & Jersey

2012-12-11T15:00:00.000+01:00

New Global Real Estate and COO appointments at UBS Global Asset Management

2012-11-26T14:30:00.000+01:00

UBS European Conference returns to London after a successful first year

2012-11-06T10:00:00.000+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

Howard Meaney appointed as the new Portfolio Manager for UBS Triton Property Fund

2012-09-18T13:30:00.000+02:00

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

UBS lists extensive range of ETFs on the London Stock Exchange

2012-07-02T15:07:20.000+02:00

UBS tops European equity rankings for twelfth successive year

2012-06-12T17:40:00.000+02:00

UBS recognized as the leading European equity house in the Thomson Reuters Extel Survey

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 announces the opening of wealth management office in Israel, combining domestic and global investments under one roof

2012-02-22T13:30:00.000+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

M&A in a ‘holding pattern’ despite improving management readiness

2011-12-08T08:00:00.000+05:30

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 Securities Research initiate strategic outlook for 2012

2011-11-14T08:00:00.000+05:30

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.

UBS Wealth Management adds new faces to Yorkshire Office

2011-08-26T08:00:00.000+02:00

UBS today announced the addition of two new client advisor assistants to its wealth management service in Yorkshire.

Lisa Helliwell and Sunjeet Kalsi have extensive experience within the financial sector, working for household names and premier client banks.

These appointments represent further investment in the new Yorkshire service, building upon the area's strong potential for growth. The service offers high net worth individuals and trustees a complete range of tailored advice including UK and global investment services.

Lisa and Sunjeet will be key points of contact for clients, assisting UBS Wealth Management's advisors, Neil King, Claire Kerr, Karen Vardy and James Copeland.

Lisa has worked for the last decade in similar support positions with the Yorkshire operations of the Bank of Ireland, Anglo Irish and RBS.

Sunjeet moves to Yorkshire from London, where she has spent the last five years working in foreign exchange with Raphaels Bank, in Piccadilly.

Jonathan Brown, Head of the UK Regional Business said:-

I am delighted to welcome Lisa and Sunjeet, their existing knowledge and experience will enable us to provide a first class service to our clients and further strengthen the Yorkshire team.

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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

UBS MTF Launches Interoperability of Central Counterparties (CCPs)

2011-07-22T08:00:00.000+02:00

UBS MTF, the multilateral trading facility operated by UBS Limited, today announced the activation of EuroCCP to join SIX x-clear Ltd as clearing counterparties for cash equity trades executed on UBS MTF. Members of UBS MTF will now be able to choose between the two interoperating central counterparties (CCPs) when clearing and settling their trades in European cash equities.

The activation follows approval from UK and Swiss regulators for interoperability, an offering that UBS MTF sought to make available to its subscribers since its inception in November 2010.

UBS MTF was the first broker-operated MTF to feature a CCP model and will be among the first to offer full interoperability.

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 appoints Antanas Petrosius as Deputy CEO for Russia and CIS and Head of Investment Banking for Russia and CIS

2011-06-17T14:40:00.000+02:00

UBS today announced the appointment of Antanas Petrosius as Deputy CEO for Russia and CIS and Head of Investment Banking for Russia and CIS. Based in Moscow and joining effective 1 August 2011, Petrosius will work closely with Nick Jordan, CEO for Russia and CIS, to drive the development of the UBS franchise in Russia and the CIS.

Delivering the vision: UBS tops European Equity Rankings

2011-06-08T15:00:00.000+02:00

UBS recognized as the leading European equity house in the Thomson Reuters Extel Survey.

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 acquires structured products firm Luxembourg Financial Group.

2011-04-14T06:00:00.000+02:00

UBS expands its existing structured products capabilities by acquiring Luxembourg Financial Group (LFG), a structured products boutique and specialist asset manager.

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 Launches Electronic Trading of Index and Single Name Credit Default Swaps.

2011-01-11T08:00:00.000+01:00

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 MTF European Multilateral Trading Facility Goes Live

2010-11-09T08:00:00.000+01:00

UBS Investment Bank today announced UBS MTF, the first broker operated multilateral trading facility (MTF) to feature a central clearing model, is officially launched and accepting member orders.

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 and Formula 1(TM) announce Global Partnership

2010-09-27T10:00:00.000+02:00

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 appoints Anthony Iliya as CEO MENA

2010-06-22T13:11:00.000+02:00

UBS today announced the appointment of Anthony Iliya (56) as CEO for Middle East and North Africa. Iliya, who will start August 1, will be based in Dubai and report to Alex Wilmot-Sitwell, Group Chairman and CEO EMEA and Co-CEO of UBS Investment Bank.

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

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

UBS Investment Bank tops Thomson Reuters Extel Survey 2010 for the tenth consecutive year

2010-06-15T08:50:00.000+02:00

UBS Investment Bank was today voted the leading Pan-European Brokerage Firm for Equity and Equity-Linked Research for a record tenth successive year

UBS to strengthen presence in Poland

2010-05-13T13:00:00.000+02:00

UBS today announced its intention to further strengthen its presence in Poland by establishing a local investment banking team. The team, which will be based in Warsaw once the necessary approvals have been obtained, will offer UBS's investment banking capabilities to the local market as well as Central Europe.

UBS Names Robert Barnes CEO of UBS MTF

2010-05-10T09:39:00.000+02:00

UBS Investment Bank today appointed Dr. Robert Barnes as Chief Executive Officer (CEO) of the firm’s new Multilateral Trading Facility, UBS MTF*. Announced in March 2010, UBS MTF will be a non-displayed order-book for crossing orders in European stocks.

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 Global Allocation Fund (UK) tops IMA Balanced Managed

2010-03-29T09:19:00.000+02:00

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 Investment Bank announces the launch of UBS Exchange-Traded Commodities (ETCs) on the London Stock Exchange

2010-03-10T08:00:00.000+01:00

UBS is pleased to announce the launch of UBS Exchange-Traded Commodities (ETCs), a series of innovative investment products that allow a broader range of investors to gain exposure to commodities in an easy, efficient and flexible way through the UBS Bloomberg Constant Maturity Commodity Index (CMCI) and its family of sub-indices.

UBS announces intention to launch European Multilateral Trading Facility

2010-03-09T13:45:00.000+01:00

UBS Investment Bank today announced its intention to launch, pending regulatory approval from the UK Financial Services Authority, a new Multilateral Trading Facility (MTF) for crossing orders in European stocks.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Agreement to resolve the John Doe summons

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

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

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

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

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

Update on John Doe Summons Litigation

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

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

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

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

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

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

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

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

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

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

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

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

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

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

CHF 3.8 billion placement of new shares from authorized capital

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

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

UBS provides an update on its current trading performance

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

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

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

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

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

UBS Investment Bank tops Thomson Reuters Extel Survey 2009 for unprecedented ninth consecutive year

2009-06-17T16:46:00.000+02:00

UBS Investment Bank was today voted the Leading Pan-European Brokerage firm for Equity and Equity Linked Research for a record ninth consecutive year and increased its lead over the nearest competitor from 1.23% in 2008 to 1.56% in 2009.

UBS restates 2008 annual report

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

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

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

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

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

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

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

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

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

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

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

Annual General Meeting of UBS AG

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

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

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

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

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

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

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

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

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

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

UBS to buy back outstanding bonds in a public tender offer

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

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

UBS AG announces Board of Directors nominations

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

UBS publishes 2008 annual report

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

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

UBS Launches Real-Time Transaction Cost Analysis in Europe

2009-03-05T12:14:00.000+01:00

UBS Investment Bank is pleased to announce the European launch of Real-time Transaction Cost Analysis (Real-time TCA), a powerful new tool for seeking best execution.

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).

UBS Provides the Best Coverage of European Equities

2009-02-13T15:00:00.000+01:00

UBS leads Institutional Investor's 2009 All-Europe Research Team for an eighth consecutive year, capturing 30 total positions. http://www.iimagazine.com

The survey is based on the responses of 1,300 investors and portfolio managers at more than 540 buy-side firms managing an estimated $6 trillion in European equities.

Nick Pink, Head of EMEA Equity Research at UBS said;

"To be recognised by our clients during one of the most challenging periods in our industries history and for an eighth consecutive year, is an exceptional achievement"

"We will continue to focus on our clients and with the addition of a number of key hires made in 2008, look forward to building on this success."

For further information and interview requests, please contact Richard Morton, UBS Media Relations, +44(0) 20 7568 0175.

Preparing UBS for the new market environment

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

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

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

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

Year-end tier 1 capital ratio of 11.5%

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

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

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

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

The transaction is expected to close by May 2009.

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

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

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

UBS AG announces sale of Bank of China stake

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

UBS AG Extraordinary General Meeting

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

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

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

New UBS compensation model

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

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

Statement On Indictment Of UBS Executive

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

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

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

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

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 Global Asset Management successfully closes its USD 1.5 billion flagship infrastructure fund

2008-11-03T12:00:00.000+01:00

UBS Global Asset Management today announced that its flagship UBS International Infrastructure Fund has successfully raised over USD 1.5 billion in committed capital, exceeding its original target. The fund, managed by UBS Global Asset Management's Infrastructure Asset Management (IAM) team, is now closed to new investors.

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

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

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

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

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

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

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

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

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

UBS announces repositioning of its Investment Bank

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

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

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

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

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

Strategic priorities

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

UBS 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 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.

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

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

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

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

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

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

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

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

Media Contacts:

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

UBS appoints new Chief Communication Officer

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

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

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

UBS reports second quarter loss of CHF 358 million

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

UBS statement of Mark Branson before the permanent Subcommittee of Investigation

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

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

UBS Announce Opening of Equity Research Office in Dubai

2008-07-15T13:00:00.000+02:00

UBS Investment Bank is to open an equity research office in Dubai to cover stocks both in the UAE and across the broader GCC region. The announcement is the latest move by UBS who are significantly expanding Middle East operations to accelerate growth.

UBS appoints Per E Larsson CEO of Middle East and North Africa

2008-07-14T10:50:00.000+02:00

UBS announced today the appointment of Per E Larsson as CEO for the Middle East and North Africa (MENA) and as a member of the Group Managing Board. Larsson will join UBS on 1 October 2008 and will be based in Dubai, reporting to Alex Wilmot-Sitwell, Chairman & CEO UBS Group, EMEA.

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 develops Active Quantitative Equities capabilities

2008-06-30T16:05:00.000+02:00

UBS Global Asset Management announces the hiring of an Active Quantitative Equities team.

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 tops Thomson Extel Survey 2008 for eighth consecutive year

2008-06-11T16:34:00.000+02:00

UBS Investment Bank was today voted the Leading Pan- European Brokerage firm for Equity and Equity Linked Research in the Thomson Extel Survey 2008 for the eighth consecutive year. The survey also ranked UBS Investment Bank number one Pan-European Brokerage firm for Equity Trading & Execution and number one Pan-European Brokerage Firm for Equity Sales for the seventh year running. UBS was also voted number one the Leading Pan-European Brokerage Firm for Operations, up from second in 2007.

Francois Gouws, Head of European Equities said;

"I am delighted that the strength and quality of our business has been recognised in so many key categories. The results are a testament to the quality of the people within UBS and the overall strength of our franchise".

Nick Pink, head of European Equity Research commented;

"We are delighted to have been recognised by our clients as the number one research house for the eighth consecutive year. The survey demonstrates that amidst turbulent markets, UBS continues to deliver original, innovative investment ideas to our key clients. Congratulations to the successful research teams and many thanks to our clients for their support"

In February this year UBS also retained the number one ranking in Institutional Investor Magazine's 2008 All-European Research Team survey for the seventh consecutive year.

For further information please visit www.extelsurveys.com or contact Richard Morton, UBS Media Relations.

Notes to Editors:

35th Thomson Reuters Extel Survey

According to Thomson Reuters Extel, the 2008 Survey represents the weighted views of over 7,500 investment professionals from 63 countries, and garnered in excess of 200,000 votes -- making it the most extensive assessment of its kind in the European investment community.

Voting was conducted primarily online and ran from 30 March to 30 May 2008. It reflects the record contribution of over 1,600 buy-side firms, 150 brokerage firms/research houses and 450 of Europe's largest quoted companies worldwide. All data, votes received and methodology applied are independently checked and verified by Deloitte.

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

UBS Investment Bank Launches UBS Blue Sea Index

2008-04-28T12:56:00.000+02:00

Sir David King joins UBS as Senior Scientific Advisor

2008-04-10T09:30:00.000+02:00

In 2005, around 1.57 billion Asians lived in urban areas. However, by 2030, the United Nations estimates that 2.67billion Asians will live in cities. The first of UBS's new Q-Series® reports entitled, Asian Structural Themes, identifies urbanisation as one of the biggest and broadest structural issues affecting the region. It examines eight investible urbanisation themes and identifies the sectors and stocks likely to be the key beneficiaries.

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 launches Europe Carbon Optimized Index

2008-03-19T15:05:00.000+01:00

Index matches benchmark returns with 30-40% lower carbon footprint

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 ANNOUNCES APPOINTMENT OF CEO FOR RUSSIA/CIS

2008-03-11T09:00:00.000+01:00

UBS is pleased to announce the appointment of Steven Meehan (43) as CEO for Russia/CIS. Steven, who will take up his appointment from March 2008 will report to Alex Wilmot-Sitwell, Chairman and CEO, UBS Group EMEA and Global Head, Investment Banking Department, UBS Investment Bank.

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 Tops Institutional Investor All-Europe Research Team survey for Seventh Consecutive Year

2008-02-13T09:29:00.000+01:00

UBS were top with a total of 33 ranked teams, three ahead of nearest competitor

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 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 and LSE Executive Education launch "UBS Career Comeback"

2008-01-23T11:16:00.000+01:00

New programme aims to help professionals re-enter the workforce

UBS Investment Bank Launches UBS Greenhouse Index

2008-01-10T08:00:00.000+01:00

UBS Investment Bank is pleased to announce the launch of the UBS Greenhouse Index (UBS-GHI).

UBS appoints Curt Custard to lead UBS Global Asset Management's Global Investment Solutions business

2007-12-18T18:00:00.000+01:00

UBS Global Asset Management has today announced the appointment of Curt Custard as head of Global Investment Solutions. Curt will be based in London.

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 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 part of consortium acquiring Southern Water

2007-10-09T12:00:00.000+02:00

UBS today announced that it is part of a consortium that has agreed to acquire 100% of Southern Water Capital Limited (Southern Water) from Royal Bank Investments Limited, a subsidiary of the Royal Bank of Scotland plc, for an enterprise value of £4.195 billion.

UBS names Carlos Criado-Perez and Dr Manfred Reichl as Senior Advisors

2007-09-27T13:30:00.000+02:00

Carlos Criado-Perez is currently Chairman of the Board of Dinosol Supermercados and is a Board Member of X5 in Russia. He was until 2004 Chief Executive of Safeway plc, and prior to that held senior roles at Wal-Mart and SHV Makro. In his new role, he will help to build our franchise globally leveraging his long standing senior experience of retail in Europe, Asia and the Americas.

Manfred Reichl is the retiring Managing Partner of Roland Berger in Vienna, having successfully built over 20 years the leading management consultancy practice in Austria and the CEE region. In his new role, he will work closely with Lucas Wilson and Klaus Vukovich to further strengthen UBS's investment banking franchise in Austria and key CEE markets.

Both Carlos and Manfred will report to Alex Wilmot-Sitwell, Joint Global Head IBD.

UBS names European Investment Banking Heads

2007-09-24T15:00:00.000+02:00

UBS today announced that it has appointed Hermann Prelle and Simon Warshaw as Joint Heads of Europe, Middle East and Africa (EMEA) in its Investment Banking Department with immediate effect.

UBS to set up a Wealth Management Advisory Office in Johannesburg, South Africa

2007-09-03T15:45:00.000+02:00

UBS announced today that it will open a Wealth Management Advisory Office in Johannesburg, South Africa. This enables the firm to expand its current business and help achieve its goal of becoming one of the leading international financial services providers in South Africa.

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 Investment Bank Launches Algorithmic Strategy System for Commodities

2007-07-31T12:39:00.000+02:00

UBS Investment Bank is pleased to announce the launch of the UBS Commodities Portfolio Algorithmic Strategy System (Comm-PASS), a portfolio based algorithmic strategy which exploits momentum in the commodity markets to generate returns through automated long and short strategies.

The portfolio consists of a basket of strategies on 19 commodity futures markets from the five different commodity sectors: Energy, Precious Metals, Base Metals, Agriculture and Livestock. The portfolio is weighted to maintain a diversified portfolio, taking into account liquidity issues.

Peter Ghavami, global head of Commodities at UBS, said: "As familiarity with the commodities asset class grows, an increasing number of investors are recognizing the value of taking a more active approach with their investment strategy. UBS Comm-PASS is the first of a new generation of portfolio-based algorithmic strategy products for the commodities asset class which allows for the generation of returns in both bull and bear markets."

Each strategy generates dynamic long or short signals in an individual commodity, taking into account both the trend and counter-trend characteristics of specific commodities in combination with the asymmetric return distribution seen in the commodity markets. The system adjusts positions based on signals generated from current market conditions in order to constantly capture new market opportunities for each commodity.

For each strategy within UBS Comm-PASS, the algorithm's parameters are chosen independently of the other strategies. This independence leads to a lower correlation between returns of individual strategies and to higher Sharpe and Calmar ratios for the overall portfolio.

James Paget, co-head of EMEA Structured Commodity Sales, said: "For the last few years, commodity price volatility has been substantially greater than other asset classes, largely due to supply concerns as well as changes in global consumption and the influx of financial commodity investments. High volatility offers trading opportunities provided an appropriate trading strategy is implemented. We believe Comm-PASS offers investors the opportunity to generate high returns by exploiting commodity market characteristics."

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 to become founding corporate partner of MLab at London Business School

2007-07-03T11:30:00.000+02:00

The Management Innovation Lab (MLab) at London Business School, today announced UBS as its first corporate founding partner. The pioneering partnership will see UBS work with the MLab's internationally renowned faculty and staff to generate management innovations relevant to its organisational goals.

UBS to launch innovative investment fund that combines the advantages of structured products and investment funds: UBS (Lux) Structured Sicav - Optimisation (CHF/EUR) B

2007-06-28T11:00:00.000+02:00

UBS is to offer an innovative fund that combines the advantages of structured products and investment funds: UBS (Lux) Structured Sicav - Optimisation (CHF) B and UBS (Lux) Structured Sicav - Optimisation (EUR) B. The subscription period will start on 2 July 2007 and end on 16 August 2007. The minimum investment is CHF 150 or EUR 150. The payment date is 21 August 2007.

The UBS Optimisation Fund offers potentially attractive returns in sideways markets via an annual coupon that is reset each year. The advantage is that investors know in advance what coupon they will receive. Additionally, the new fund incorporates conditional downside protection and stringent diversification. The fund is suitable for investors with a moderate-to-high equity-like risk tolerance level.

According to its investment strategy, the UBS Optimisation Fund gives investors exposure to a minimum of 25 structured products based on underlying equities that are carefully selected by UBS specialists. As a result, investors benefit from a diversified portfolio that reduces the specific risk of a single structured product.

The coupons are dependent on market conditions and will be set prior to launch. The indicative coupons are 7% in CHF and 8.5% in EUR for the first year. The coupon will be reset each subsequent year, depending on market conditions. In return for the annually fixed coupon and conditional downside protection, investors are ready to give up a higher return potential in strongly rising markets and accept potential downside equity risk in strongly falling markets.

UBS launches major climate change research initiative: 'Forget the science - concentrate on financial markets'

2007-06-25T13:29:00.000+02:00

UBS Investment Bank has launched the first part of a major research initiative looking at the implications for financial markets of reactions to climate change. In 12 coordinated research notes and four webcasts, UBS told its clients that no sector will be untouched by the climate change debate, but reactions will be felt differently. The research surmises, 'Forget the science - time to focus on financial markets.'

UBS Hires Donald Belanger as Head of EMEA Real Estate Capital Markets

2007-06-05T17:48:00.000+02:00

UBS announced today that Donald Belanger will join UBS as a Managing Director and Head of Europe, Middle East and Africa (EMEA) Real Estate Capital Markets. Belanger will join UBS from Credit Suisse where he was Head of European Real Estate Finance and was responsible for the origination, structuring and distribution of all real estate debt in Europe.

Belanger will be based in London and will report to Ramesh Singh, Global Head of Securitized Products and Americas Head of Debt Capital Markets. He will work closely with Wilson Lee, Head of EMEA Real Estate Principal Finance and Head of Real Estate Finance for Asia Pacific. Lee continues to report to Singh and is also based in London.

Prior to joining Credit Suisse, Belanger was a Managing Director in the Global Real Estate Debt Markets Group at Deutsche Bank in New York where he also supported the European Real Estate growth initiative. Previously, he worked at Nomura Securities in structured products and at Fitch as an analyst evaluating commercial mortgage backed securities.

"Hiring a real estate veteran such as Don is an important step towards continuing to build our real estate capital markets capabilities in Europe" said Lee. "We are confident that we will be able to achieve our strategic goal of successfully growing a client-centric origination, structuring and distribution business, that is well integrated within the broader UBS client base and product platform." added Singh.

Belanger earned his B.A. in business economics from the University of California, Los Angeles and his MSc in finance and accounting from the London School of Economics and Political Science.

UBS Appoints Gareth Evans as UK Equity Strategist

2007-06-04T15:30:00.000+02:00

UBS today announced the appointment of Gareth Evans as its UK Equity Strategist.

Evans will join as an Executive Director and report to Nick Nelson, head of European Equity Strategy. He joins UBS from ING where he was Pan-European strategist for eight years. He began his career working as a UK portfolio strategist for Capel-Cure Myers Capital Management in 1994.

Nick Pink, head of UBS European Equity Research said;

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

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

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

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

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

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

UBS to report First Quarter 2007 Results on May 3rd

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

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

UBS Investment Bank Launches - UBS Global Warming Index

2007-04-24T15:00:00.000+02:00

UBS Investment Bank is pleased to announce the launch of the UBS Global Warming Index (UBS-GWI).

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 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.

Climate change: beyond whether

2007-01-31T17:30:00.000+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.

UBS appoints Paul Marcuse to lead UBS Global Asset Management's Global Real Estate business

2007-01-11T11:33:00.000+01:00

UBS Global Asset Management has today appointed Paul Marcuse as head of its Global Real Estate business. Paul will be based in London and will be appointed immediately to the Executive Committee of UBS Global Asset Management.

UBS announces senior management changes within UBS Global Asset Management Fund Services

2007-01-08T10:00:00.000+01:00

Today UBS Global Asset Management announces the appointment of Mark Porter as Head of Fund Services in the UK with effect from 1 January 2007.

UBS Q-Series ® "Infrastructure & Utilities": Asset bubble, structural change or fundamental re-rating?

2006-11-14T18:13:00.000+01:00

Over 10 years the global infrastructure and utilities (I&U) sector has outperformed equities and government bonds. New research from UBS suggests this developing asset class will be among the biggest themes in financial markets over the next decade and beyond.

UBS launches first ever emissions index

2006-11-02T10:00:00.000+01:00

Investors will have access to the market of emissions allowances

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 Investment Research "Global Economic Perspectives"

2006-10-12T10:00:00.000+02:00

Unequal Economics? Inequality in the main industrial economies is rising and average economic statistics are increasingly less reflective of the typical experience of a household in the economy.

Nick Hill and Torsten Bickart to join the European Real Estate Finance Group

2006-08-23T11:14:00.000+02:00

UBS Investment Bank announced today the appointment of Nick Hill and Torsten Bickart to the European Real Estate Finance Group. Mr Hill joins as Executive Director, Head of UK Real Estate Finance and Torsten Bickart joins as Executive Director and Head of German Real Estate Finance. Both will report to Wilson Lee, Managing Director and European Head of Real Estate Finance.

Mr Hill joins UBS from Lehman Brothers Real Estate Mezzanine Partners where he was responsible for their European business. Previously, he worked in their Principal Transaction Group and prior to that he worked at HSBC in property finance. Mr Hill will be based in London and his appointment is with immediate effect.

Mr Bickart joins UBS from HVB where he worked for 13 years, most recently as Head of Real Estate Portfolio Lending for Germany. Mr Bickart will be based in Frankfurt and will join UBS in the Autumn.

The Real Estate Finance business was set up in March this year within the Securitized Products Group headed globally by Ramesh Singh based in New York. Real Estate Finance provides clients both debt and equity finance to our clients in the commercial real estate business leveraging expertise from across UBS Investment Bank.

These hires follow the appointments earlier this year of Matthew Bailey and Nick Bull, who joined the European Real Estate Finance Group in March this year. Mr Bailey joined as Director from Barclays Capital where he specialised in tax restructuring, securitisation and real estate finance. Mr Bull also joined as Director from the Global Real Estate Group at Lehman Brothers where he worked for five years. Prior to that, Mr Bull was a real estate finance lawyer at Clifford Chance. In addition, Soumen Das joined the Real Estate Finance Group as Director from the Real Estate and Leisure Group within UBS' Investment Banking Division where he has been covering UK property companies and corporates for the past 8 years. All report to Wilson Lee.

UBS announces senior management changes within Europe

2006-08-22T13:44:00.000+02:00

UBS announced today the appointment of Jeremy Palmer as CEO of the Investment Bank in Europe, Middle East and Africa (EMEA), with effect from 4th September 2006. Jeremy will report to Huw Jenkins, Chairman and CEO of UBS Investment Bank, and be a member of UBS Investment Bank Management Committee. He will continue to be a member of the Group Managing Board.

Jeremy will move from UBS Wealth Management & Business Banking where he was Head of UBS WM UK, Northern and Eastern Europe. He joined UBS in 2000 having previously held various management positions in Barings, JP Morgan and Salomon Brothers.

In his new role, Jeremy will chair the Investment Bank's EMEA Management Committee and drive the implementation of strategy in this important region. He will focus on developing cross-business opportunities in partnership with the business heads, and expanding the bank's presence in the key emerging markets. Jeremy will be the senior UBS relationship holder with the UK regulator, the FSA. He will also work closely with senior colleagues from other parts of UBS to maximise opportunities arising from the integrated business model.

Jeremy succeeds Robert Gillespie who is scheduled to return from his sabbatical to his role as Vice Chairman of the Investment Bank in the near future.

Commenting on the appointment, Huw Jenkins said: "I am delighted that Jeremy has accepted this important role. He has the experience and vision to deliver the full strength of our integrated firm to our clients and a great insight to all of our businesses."

UBS also announces the appointment of Matthew Brumsen as Head of UBS Wealth Management UK, Northern and Eastern Europe, replacing Jeremy Palmer. Matthew joined UBS in 2001 from Goldman Sachs and was appointed Business Sector Head UK Domestic in October 2004. Under Matthew's leadership the business has expanded significantly both in size and profitability. Going forward he will report to Raoul Weil, Head of Wealth Management International.

Commenting on the changes, Raoul Weil said: "I extend my thanks to Jeremy for his outstanding contribution. He has taken a crucial role in the development of our strategy and has been key to its implementation. He leaves a leadership team, headed by Matthew Brumsen, which is well positioned to take the business to the next level."

London, August 22, 2006
UBS

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 first quarter 2006 result of CHF 3,504 million

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

Annual General Meeting of UBS AG

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

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

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

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

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

UBS commences new share buyback program

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

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

UBS and ELBA publishes report on the impact of the 2012 Olympics on East London's economy

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

London, 24th February 2006 - UBS and the East London Business Alliance (ELBA) published today a report 'Winning by taking part: East London's economy and the Olympics'. The report examines the cost and benefits of the 2012 London Olympics to the East London economy and the legacy it will leave the London Boroughs of Hackney, Newham and Tower Hamlets.

The direct benefits of hosting the Games are clearly positive and the report identifies a specific net economic benefit of between £5.9billion to £7.8billion pounds. However the direct impact of the Olympics on East London's economy is actually relatively small. The economic impact from hosting an Olympic Games is largely about legacy effects.

The opportunity to host the Games could represent one of the biggest single changes to East London's infrastructure and economy in over half a century. If effectively planned, the Olympics should benefit the economy through improvements to transport, education, health and the urban environment. The report also considers intangible benefits that can offer significant gains to the East London Economy. As East London becomes the focus of the international media, this is likely to generate corporate involvement in the East London community, an opportunity that is unlikely to be repeated for decades.

Peter Welton, Director of London Legacy 2020 for the East London Business Alliance commented: "The Olympics Games is a tremendous opportunity to leave a lasting legacy for East London. It is this legacy that will make the 2012 Olympic Games truly successful".

Paul Donovan, UBS Economist commented: "In many ways, it is the indirect or intangible benefits from hosting the Olympic Games that offer the greatest potential for the economy of East London. The legacy from the change in East London's social and urban environment; education and training; and the encouragement of inward investment will outlast the Games for some time."

For copies of the report please contact Sam Smith, Media Relations, UBS on +44 20 7568 9982 or at samantha.smith@ubs.com.

UBS Global Asset Management publishes "The Bond Bubble - the danger of risk aversion"

2006-02-21T09:00:00.000+01:00

London, 27 January 2006. The report examines the distortion of UK bond markets and the increase in investment risk caused by the UK pension funds' acute risk aversion. UBS believes that pension funds should be wary of committing assets to these markets at current yields.

Actuate risk aversion by UK funds has created a bubble that has distorted UK bond markets and increased investment risks. There has been a dramatic collapse in real yields on long-dated UK bonds as pension fund demand has outstripped supply.

For many defined benefit pension funds, the impact on liability costs has been severe. Even strong equity markets have not been enough to prevent deficits rising sharply.

Nic Barnes, Executive Director and Head of Sterling Fixed Income at UBS Global Asset Management and author of the report comments: "Real yields at current low levels are unsustainable. As a consequence we have positioned our clients' discretionary managed pension funds accordingly."

Barnes adds, "even pensions funds considering low-risk liability matching using long-dated, index-linked gilts should be wary of committing assets to the market at current yields."

Contact:

Charles Gorman, UBS Media Relations
Telephone: +44 020 7568 2910
Email charles.gorman@ubs.com

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 CreditDelta enhances portfolio analysis with integration of Markit benchmark pricing

2006-01-24T11:00:00.000+01:00

London, 24 January 2006 - UBS Credit Delta, the fixed income portfolio and risk management platform used globally by hedge funds and asset managers and Markit Group Limited ('Markit'), a leading source of independent mark-to-market pricing and valuations, today announced the availability of Markit's benchmark pricing integrated with UBS CreditDelta for mutual customers.

Market credit default swap pricing is now available to mutual customers within UBS Credit Delta platform to help the hedge fund and asset management community exposed to credit derivatives value, monitor and service their risk management needs using the best available benchmark credit data from Markit.

Julie Chakraverty, Global Head of Fixed Income Analytics at UBS said: "This development demonstrates UBS CreditDelta's continued commitment to our clients' growing needs. We create true added value by providing our clients with both choice and technical excellence. It also represents a next step in UBS's new institutional Client Connectivity initiative, designed to extend our portfolio services model and establish seamless electronic gateways with our clients."

"Markit is delighted to be working with UBS CreditDelta to further help joint customers get an integrated view of the best available credit pricing for their risk management needs," said Mark Hunt, Director, Product Development at Markit Group.

Enquiries:

Julie Chakraverty, UBS CreditDelta +44 20 7568 3436
julie.chakraverty@ubs.com

Teresa Chick, Markit Group Limited +44 20 7890 5094
teresa.chick@markit.com

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.

François de Combret becomes Senior Advisor to UBS Investment Bank

2006-01-10T09:00:00.000+01:00

London (9 January 2006) - UBS announced today that Francois de Combret becomes a Senior Advisor based in Paris, with immediate effect.

In this position, Francois de Combret will help UBS strengthen its business in France and Europe, and will support the French team headed by Charles-Henri Le Bret, Head of Investment Banking France. After graduating from Ecole, Nationale d'Administration (ENA - French State School of Public Administration), Francois de Combret started his career as auditor at the "Cour des Comptes" (the French State Audit Office). He then worked as an advisor for Economic and Industrial affairs to Valery Giscard d'Estaing, first at the Ministry of Finances (1971-1974) and then at the Elysee Palace (1974-1978) when Valery Giscard d'Estaing was elected President of the State. Francois de Combret was then named Elysee Palace Deputy Head of Staff (1978-1981).

After being hired by Banque Lazard in 1982, Francois de Combret spent three years in New York before he was appointed managing partner of the bank in Paris in 1985, a function which he held for twenty years, up until last August.

During the last twenty years at Banque Lazard, Francois de Combret has lead key privitisation transactions, such as the Renault, the France Telecom and the Aerospatiale deals. He also advised Renault on its joint-venture with Nissan, Aerospatiale on its merger with Matra and Daimler Aerospace for creating EADS, and advised Sagem on its merger with Snecma for creating the Safran company.

Francois de Combret is a board member of Renault, Safran and Bouygues Telecom.

Commenting on his appointment Charles-Henri Le Bret said: "We are delighted that Francois de Combret has decided to bring his talents to UBS; his huge experience in the French market will compliment very nicely our existing positions and will strenghten significantly our overall reach."

Enquiries

Samantha Smith +44 20 7568 9982

Brunswick UBS to adopt single UBS brand in Russia

2005-12-15T12:00:00.000+01:00

UBS adopts single UBS brand in Russia after the purchase of Brunswick Capital's 50% stake in Brunswick UBS in August 2004.

London/Moscow, 15 December 2005. Following the purchase by UBS of Brunswick Capital's 50% stake in Brunswick UBS Investment Bank in August 2004, UBS today announced the adoption of the single brand, UBS, for Russia.

The move to the single UBS brand reflects UBS's integrated business model and the 'one firm' approach UBS delivers to its clients. The single UBS brand strategy was implemented across its businesses in 2003.

Marlen Manassov, General Director of UBS Securities in Russia commented: "The re-branding to UBS allows us to offer, in a unified way, the full range of UBS investement services to Russian clients. This is part of the continued investment by UBS to increase its commitment and services to Russian clients and the Russian financial market".

Formed in 1997, the joint venture Brunswick UBS, now UBS, is a premier operator in the Russian securities market, employing 140 people in Moscow, London and New York.

Sam Smith, Media Relations + 44 20 7568 9982
Dominik von Arx, Media Relations + 44 20 7568 9982
Sarah Small, Media Relations + 44 20 7568 2609

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 Investment Bank announces new Global Leveraged Finance Structure

2005-12-07T07:00:00.000+01:00

New York, December 6, 2005 - UBS announced today that it will implement the following new appointments with immediate effect.

David Juge and Warren Woo have been appointed Joint Heads of Global Leveraged Finance. Global Leveraged Finance will comprise the Global Syndicated Finance and Leveraged Finance businesses of the Investment Bank.

Mr Juge will continue to be responsible for the Global Syndicated Finance business reporting to Chris Ryan, Global Head of Credit Fixed Income.

Mr Woo will assume the dual role of Global Head of the Financial Sponsors Group and Leveraged Finance Origination. Mr Woo will report to Ken Moeli, President, UBS Investment Bank and to the Joint Global Heads of the Investment Banking Department, Rick Leaman, Jeff McDermott and Alex Wilmot-Sitwell.

"Financial sponsors and leveraged finance continue to be the fastest growing sectors of the marketplace," said Ken Moelis, President, Investment Bank, "We are confident that these changes will help us maximise our ability to effectively serve our clients through an enhanced integrated firm effort."

In conjunction with this change, UBS is pleased to announce the followoing additional appointments.

- Adam Reeder will assume the position of Head of the Financial Sponsors Group and Leveraged Finance Origination for the Americas, reporting to Warren Woo.
- Steve Conway has been appointed Head of Financial Sponsors Group and Leveraged Finance Origination for the EMEA and APAC regions, reporting to Warren Woo.
- Brendan Connolly will assume the position of Global Head of High Yield Syndicate, reporting to David Juge.

"We have been looking to create seamless coordination between the client and risk areas of our leveraged finance business," says Mr Woo. "We believe these changes are a solid step in that direction."

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

Headquartered in Zurich and Basel, UBS employs around 70,000 people and has operations in over 50 countries and in all major financial centres.

Inquiries:-
Dominik von Arx + 44 20 7568 2439
Sarah Small + 44 20 7568 2609

UBS, cambiamenti manageriali al vertice del mercato Wealth Management Italy (Italian only)

2005-11-24T10:00:00.000+01:00

Vittorio Volpi ha deciso di lasciare la sua attuale carica di Head Wealth Management Italy per concentrarsi su un ruolo a più stretto contatto con la clientela in qualità di Chairman Wealth Management Italy. Vittorio Volpi, che uscirà dal Group Managing Board di UBS, rimarrà inoltre Presidente del Consiglio di Amministrazione di UBS (Italia) S.p.A. e Country Facilitator per l'Italia.

UBS appoints Simon Perry, Head of European CDOs and Sharif Anbar-Colas as a secondary CDO trader

2005-11-21T07:00:00.000+01:00

UBS Investment Bank announced the hire of Simon Perry, Head of European CDOs and Sharif Anbar-Colas as a secondary CDO trader.

London, 21 November 2005 - UBS Investment Bank announced today the recent hire of Simon Perry, Head of European CDOs. Based in London, Simon joins as Managing Director and will report to Jim Stehli, Global Head of the Global CDO Group. Simon joins UBS from IXIS where he ran the European CDO team.

UBS Investment Bank also announced the recent hire of Sharif Anbar-Colas as a secondary CDO trader. Sharif joins as Director, reporting to Keith Grimaldi and Malay Patel, Co-Heads of Secondary CDO trading and will be based in Lodnon. Previously, Sharif was a secondary trader at Bear Stearns.

Commenting on the appointment Stehli said:
"I am delighted that Simon and Sharif will be joining UBS. They will bring with them a wealth of experience, which, as the market continues to develop, will strenghen our our European CDO franchise. The appointments of Simon and Sharif will enhance our ability to serve the needs of our clients and reflect UBS's commitment to growing our CDO business in Europe."

Enquiries:
Sam Smith, +44 20 7568 9982
Sarah Small, +44 20 7568 2609

UBS Hedge Fund Services hits $100bn milestone

2005-11-07T12:00:00.000+01:00

London, 7th November 2005. UBS Global Asset Management today announced that its Hedge Fund Services business has reached the milestone of USD100bn of assets under administration.

With offices in Grand Cayman and Dublin, UBS's Hedge Fund Services business has grown its assets under administration to reach a USD100bn milestone.

The business, with a professional staff of 140, holds a leading position in hedge fund administration services and benefits from a significant ongoing investment in state-of-the-art technology. The business provides a complete range of services including accounting, NAV computation, shareholder services, banking and credit facilities. Hedge Fund Services administers over 700 funds with assets balanced between single funds and funds of funds.

The business has a specialized team to service the unique needs of both sets of clients. Its offering to fund of funds sponsors includes specially tailored services such as global custody and settlement services, credit facilities and foreign exchange hedging. For single manager funds, the business offers considerable expertise in valuing complex instruments, and a global platform with connectivity to all the major prime brokers. All valuations are conducted independently from the fund's own prime broker.

Sean Flynn, Head of Hedge Fund Services, said "We are very pleased to have reached this milestone. It illustrates the confidence that our clients have placed in the business. Clients - both private and institutional - expect full service capability from day one. To continually meet their needs in this competitive industry, you need the experience to understand their requirements and the scale to deliver. We are continually investing in people and infrastructure: by hiring and training qualified, experienced staff; and ensuring we have accurate, timely reporting and robust systems."

One of the world's top ten hedge fund administrators, UBS has administration offices in the Cayman Islands (established in 1972) and Dublin (established in 2004). Clients include asset managers, institutional investors and family offices. The business expects to expand this network with offices in North America and Asia in 2006 to better meet the needs of clients in their own time zones.

UBS appoints Lok Lee as Head of European High Yield and Mezzanine Capital Markets

2005-11-03T07:00:00.000+01:00

UBS Investment Bank announces the hire of Lok Lee to head its European High Yield and Mezzanine Capital Markets team.

London, 3 November 2005 - UBS Investment Bank announced today the hire of Lok Lee as Head of European High Yield and Mezzanine Capital Markets. Based in London, Lok joins as Managing Director and will report to Edward Massaro, Global Head of Leveraged Finance and High Yield and Loan Capital Markets.

Lok joins UBS from Accela International, a San Francisco based investment management firm he co-founded. Previously, Lok was based in London and Head of European High Yield Capital Markets at JP Morgan and prior to that, in the High Yield Capital Markets team at Deutsche Bank.

Commenting on the appointment Massaro said: "I am delighted that Lok is joining UBS Investment Bank. Lok brings with him a wealth of experience of the High Yield Capital Markets in Europe and his presence will greatly strengthen our High Yield and Mezzanine Capital Markets franchise.

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 appoints new Global Heads of Investment Banking Department and new Vice Chairman of Investment Bank

2005-10-27T15:35:00.000+02:00

London (27th October 2005) - UBS Investment Bank announced today the appointment of Rick Leaman, Jeff McDermott and Alex Wilmot-Sitwell as Joint Global Heads of the Investment Banking Department (IBD). Reporting to Ken Moelis, President of UBS Investment Bank, the appointments are effective from 1st November 2005. Leaman will be based in New York and McDermott and Wilmot-Sitwell will be based in London.

The day-to-day responsibility for running IBD was previously held by Robert Gillespie and Ken Moelis who together built a world class Investment Banking business globally.

Robert Gillespie has been appointed as CEO of EMEA and Co-Vice Chairman of the Investment Bank alongside Lord Brittan of Spennithorne, Senator Phil Gramm and Ken Costa. Gillespie will have executive responsibility for the strategic growth of the business across both established and emerging markets throughout the region, in addition to his role as senior relationship manager for a number of key clients. He will be based in London.

Commenting on the appointment of Leaman, McDermott and Wilmot-Sitwell, Ken Moelis said:

"I am delighted that Rick, Jeff and Alex will be working together to position UBS as one of the leading global Investment Banking franchises. Their strong leadership, with proven track records across geographies and client segments, is the perfect combination to take the business forward."

Rick Leaman was Joint Global Head of Mergers & Acquisitions and Chairman of the Business Review Group for IBD in the Americas. He joined the firm in 1997, following the acquisition of Dillon Read, where he had worked since 1992.

Jeff McDermott joined UBS in 2001 from Salomon Smith Barney. He was Head of the Global Industrial Group based in New York until 2004, when he moved to London on his appointment as Joint Head of European Investment Banking alongside Alex Wilmot-Sitwell.

Alex Wilmot-Sitwell joined the bank in 1995 as Head of Corporate Finance in South Africa, before moving to London in 1998 as Head of UK Investment Banking. Prior to his appointment as Joint Head of European Investment Banking in 2004 he was Head of European Client Coverage.

Mark Steinert appointed Global Head of Equity Research

2005-10-27T07:00:00.000+02:00

London (26th October 2005) - UBS Investment Bank announced today the appointment of Mark Steinert as Global Head of Equity Research, effective November 1st 2005. Mark will replace Tom Hill who takes up the post of Chief Communications Officer in January 2006.

Mark will report to Daniel Coleman and John Wall the Joint Global Heads of Equities and will relocate from Sydney to New York.

Mark joined UBS in Australia in 1994 from Jones Lang LaSalle. In May 2004 he was appointed to his current role as Head of Australasian Equities for UBS. Prior to this, Mark held a number of roles in research, including Global Head of Real Estate Research from 2001-2004 and Australasian Head of Real Estate Research from 2000 - 2004. He is also currently on the Global Investment Bank board.

Commenting on his appointment John Wall said:

"Mark and his team have built a top-rated franchise with one of the broadest service models in the Australia/New Zealand market, and we are confident Mark will continue this success as Global Head of Equity Research."

Daniel Coleman added: "He brings to the role a fresh perspective, superb business and leadership skills, and a proven track record. He is committed to maintaining UBS's position with our client base."

UBS is recognised as the number one Investment Bank in Australasia, with the top secondary trading market share of 12%, the leading research platform, and is rated number one in equity, equity-linked issuance and M&A.

UBS signs agreements to sell Motor-Columbus stake

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

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

Senior Management Appointments

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

UBS announces senior management appointments

UBS to Buy Brunswick's 50% Stake in Russian Joint Venture

2005-08-23T07:00:00.000+02:00

UBS announces that is has agreed to buy the whole of Brunswick Capital's 50 per cent stake in Russian joint venture.

London/Moscow, 23 August 2004 - UBS and Brunswick Capital, equal partners in Brunswick UBS, an equity brokerage and trading, investment banking and custody joint venture in Russia, have agreed that UBS will buy the whole of Brunswick Capital's 50 percent stake in the joint venture. Terms were not disclosed. The transaction is subject to regulatory approval and is expected to close in the fourth quarter.

Formed in 1997, Brunswick UBS had developed into one of the premier operators in the Russian securities market, employing 120 people in Moscow.

Commenting on the acquisition, John Costas, Chairman and Chief Executive of UBS Investment Banking said: "Taking full ownership of Brunswick UBS confirms the commitment of UBS to Russia and is consistent with UBS's strategic objective of establishing a leading presence in the country."

Jeff Costello, a Director of Brunswick Capital, commented: "Our partnership with UBS has been beneficial to both parties and we are confident that UBS will continue the traditions of commitment to our clients and market leadership that we have jointly developed. We wish UBS continued success and prosperity in Russia."

Inquiries:
Dave Walker, + 44 20 7568 2439
Sarah Small, + 44 20 7568 2609

Alexander Ineichen

2005-08-16T10:41:00.000+02:00

UBS today announced that Alexander Ineichen, who has led UBS Investment Bank's research into hedge funds and other alternative investments since 2000, will move to UBS Global Asset Management's Alternative and Quantitative Investments (A&Q), in a senior research capacity, effective 1st October, 2005.

UBS to report Second Quarter 2005 Results on August 9th

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

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

UBS finalises acquisition of stake in Giubergia UBS Sim and renamed UBS Italia SIM

2005-07-06T00:00:00.000+02:00

Milan (6 July 2005) - UBS announced today it has completed the acquisition of the stake in the joint venture Giubergia UBS SIM and names Richard Hardie as Chairman of the newly named UBS Italia SIM.

David Waring appointed as Joint Head of the Energy Team, Investment Banking, EMEA

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

UBS announced today the appointment of David Waring as Joint Head of Energy Investment Banking, EMEA.

Kuwait Investment Authority and UBS Global Asset Management sign Memorandum of Understanding for investments into China

2005-06-21T00:00:00.000+02:00

The Managing Director of the Kuwait Investment Authority (KIA), Mr Bader Al-Sa'ad, and Mr John A. Fraser, Chairman and CEO of UBS Global Asset Management, today announced the signing of a Memorandum of Understanding (MoU) to explore opportunities for investment into China.

"Companies need to assess the financial impact of HIV/AIDS beyond Africa," warns new report

2005-06-21T00:00:00.000+02:00

A report published today has highlighted the financial risks to companies operating in fast-growth emerging economies from the spread of HIV/AIDS. The 83-page report, HIV/AIDS Beyond Africa: Managing the Financial Impacts, is the result of a unique collaboration between F&C Asset Management, a leading socially responsible fund manager, and the Equity Research department of UBS Investment Bank, one of the world's leading investment banking and securities firms.

Charles-Henri Le Bret appointed Head of Investment Banking France

2005-06-09T00:00:00.000+02:00

UBS announced today the appointment of Charles-Henri Le Bret as Head of Investment Banking France. Effective immediately, Charles-Henri, Managing Director and member of the EMEA executive committee, will be based in Paris and report to Jeff McDermott and Alex Wilmot-Sitwell, joint Heads of Investment Banking, EMEA.
Charles-Henri joined UBS in 2001 as Deputy Head of Investment Banking France. Previously, Charles-Henri worked at JP Morgan in Corporate Finance and M&A in Paris, New York and London for 15 years. Charles-Henri holds an MBA from INSEAD.

Commenting on his appointment Jeff McDermott and Alex Wilmot-Sitwell said:

"We look forward to continue to work closely with Charles-Henri in his capacity as Head of Investment Banking France. His considerable advisory experience in the French market ideally places Charles-Henri as the right choice to lead our Investment Banking team in France, and together we will develop and strengthen our Investment Banking franchise."

UBS Investment Bank ranked 1st place in the Thomson Extel Survey 2005 for Pan-European Equity Research, Sales and Trading & Execution

2005-06-08T00:00:00.000+02:00

UBS Investment Bank announced today that the firm has been ranked 1st for Pan-European Equity Research in the Thomson Extel Survey 2005 for the fifth consecutive year.

The survey also places UBS 1st for Pan European Equity Sales and Trading & Execution - awards UBS has won every year since their inception in 2002. UBS was also awarded leading Pan-European Brokerage Firm for Mid and Small Caps.

Michael Oertli, Head of European Equity Research commented:

"We are very pleased to win for the fifth year running. Our goal has always been to provide our clients with premier research to help them make informed investment decisions and we are delighted to be recognised for this by our clients."

These achievements follow the firm's success in February when UBS European Equity Research was ranked first in Institutional Investor Magazine's 2005 All-Europe Research Team survey for the fourth consecutive year and first in Pan-European Institutional Equity Sales and Pan-European Trading and Execution.

UBS hires Nick Nelson as Head of European Equity Strategy

2005-05-31T00:00:00.000+02:00

UBS Investment Bank announced today that it has hired Nick Nelson to head its European Equity Strategy team

UBS first quarter 2005 result of CHF 2,625 million

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

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

Results from the Financial Businesses

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

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

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

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

Annual General Meeting of UBS AG

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

UBS Investment Bank publishes new Q-Series report on Corporate Social Responsibilities: 'Why try to quantify the unquantifiable?'

2005-04-12T00:00:00.000+02:00

UBS Investment Bank announced today the publication of a new Q-Series report on Corporate Social Responsibilities (CSR) entitled 'Why try to quantify the unquantifiable?'. This is the first thematic piece by the recently created Socially Responsible Investment (SRI) team who aim to capture aspects of industry structure that drive CSR issues.

The report asserts that the handling of CSR issues is an integral part of the management of business risk for companies. There are regular examples of firms changing their business models in response to social issues; such as changes in advertising practices in the food industry; changes to pricing and patent decisions in the pharmaceuticals industry; and changes in the operating practices of utilities firms.

In this report, the value of a firm is defined as its enterprise value - this being the sum of the market value of all claims on the business. The UBS SRI team view potential corporate social liabilities (unrecognised social costs) as another claim on the business, alongside debt, equity and pension provisions. This makes it clear that social costs can compete with shareholders' equity. Hence, social issues are not only integral to business risk, they are also potential value drivers.

Identifying the important CSR issues is determined by how any given industry works, what society sees as important and how costs are (or will be) distributed. This approach suggests that the key issues include competition issues such as the use of advertising and the arrival of new technology; environmental considerations such as climate change; regulatory change for hazardous substances and waste; human rights; product responsibility including access, safety, risk, disclosure, labelling and packaging; respect for and risks to privacy in general and finally, the soundness of business practices in general.

Created in December 2004, the UBS Investment Bank SRI team produces original research on areas of risk to corporates. They also organise collaborative research on companies and industries around emerging SRI themes, and are responsible for quantifying the effects on share prices. UBS' Q-Series initiative is focused on continual questioning, leading a firm wide commitment to thoughtful, proprietary, valuable research. By engaging in an intellectually challenging, constructive dialogue with clients, Q-Series reports anticipate and answer pivotal questions enabling clients to make informed investment decisions.

Lord Roll, Senior Advisor to UBS, Dies at Age 97

2005-03-31T00:00:00.000+02:00

Lord Roll of Ipsden, KCMG, CB, and Senior Advisor to UBS Investment Bank, died early this morning at the age of 97. UBS wishes to express its deepest sympathy to the family of this truly extraordinary man.

"On behalf of UBS, we would like to express our sadness at the passing of Eric and we offer our sympathy to his family," said Marcel Ospel and John Costas, Chairman of UBS and Chairman and CEO of UBS Investment Bank, respectively. "Eric was a trusted advisor, senior leader and friend to so many in the Group for decades. His contributions to public life in the UK and globally, and his business accomplishments spanned most of the 20^th century and into the 21^st - he will be sorely missed."

The following is a brief description of the professional career of Lord Roll:

UBS Global Asset Management appoints Capability Head for Long-Short Equity Products

2005-03-30T00:00:00.000+02:00

UBS announces the appointment of Scott Bondurant as Capability Head for Long-Short Equity Products, UBS Global Asset Management.

UBS ranked 1st place in 2005 Institutional Investor Emerging EMEA Research Team survey for second year running and 1st for Pan-European Equity Sales

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

UBS announced today that the firm has been named the top-rated equity research firm in emerging markets in Europe, the Middle East and Africa in Institutional Investor magazine's 2005 Emerging EMEA Research Team survey for the second consecutive year.

In addition, UBS was ranked first for Pan-European Equity Sales and second for both Pan-European Equity Trading and UK Equity Trading in Institutional Investor's equity trading poll.

In the Emerging EMEA Research Team survey, UBS achieved a total of 10 team positions including five first ranked teams (up from 2 in 2004), two second ranked teams, and one third ranked team. The survey reflects the results of voting by 209 investment experts at more than 150 institutions.

Tutu Agyare, Head of Emerging European Equities commented, "For the second year running, our clients have voted us the best research house in Emerging Europe with five first team positions out of a possible 12. This is in recognition of the commitment UBS has made to the product and a testament to the ability of the individuals working within the teams."

This follows the firm's success in February when UBS was ranked number one in Institutional Investor magazine's 2005 All-Europe Research Team Survey for the fourth consecutive year.

UBS ranked 1st place in 2005 Institutional Investor Emerging EMEA Research Team survey for second year running and 1st for Pan-European Equity Sales

2005-03-14T00:00:00.000+01:00

London, 14 March 2005 - UBS announced today that the firm has been named the top-rated equity research firm in emerging markets in Europe, the Middle East and Africa in Institutional Investor magazine's 2005 Emerging EMEA Research Team survey for the second consecutive year.

In addition, UBS was ranked first for Pan-European Equity Sales and second for both Pan-European Equity Trading and UK Equity Trading in Institutional Investor's equity trading poll. In the Emerging EMEA Research Team survey, UBS achieved a total of 10 team positions including five first ranked teams (up from 2 in 2004), two second ranked teams, and one third ranked team. The survey reflects the results of voting by 209 investment experts at more than 150 institutions.

Tutu Agyare, Head of Emerging European Equities commented, "For the second year running, our clients have voted us the best research house in Emerging Europe with five first team positions out of a possible 12. This is in recognition of the commitment UBS has made to the product and a testament to the ability of the individuals working within the teams."

This follows the firm's success in February when UBS was ranked number one in Institutional Investor magazine's 2005 All-Europe Research Team Survey for the fourth consecutive year.

UBS hires M&A banker Pierpaolo DiStefano

2005-03-14T00:00:00.000+01:00

UBS Investment Bank announced today that it has hired Pierpaolo DiStefano to join its Mergers and Acquisitions franchise.

UBS and The London Symphony Orchestra announce a new three year partnership

2005-02-28T00:00:00.000+01:00

A comparison of purchasing power around the globe, 2005 update

UBS sponsors Munch exhibition at Complesso del Vittoriano in Rome

2005-02-28T00:00:00.000+01:00

UBS, one of the world's leading financial services firms, is sponsoring the "Munch 1863 - 1944" exhibition at Rome's Complesso del Vittoriano, between 10 March and 19 June 2005.

UBS ranked 1st place in 2005 Institutional Investor All Europe Poll for Equity Research

2005-02-14T00:00:00.000+01:00

As of Tuesday, 15 February 2005, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

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

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

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

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 opens Hedge Fund Services office in Dublin

2004-10-06T00:00:00.000+02:00

The new Hedge Fund Services office in Dublin officially opened on 5 October 2004, providing a comprehensive range of fund administration services for European asset managers. Located in George's Quay in the heart of Dublin's financial district, the office will employ ten people initially, with plans to expand to a team of 30-40 in the near future.

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 Named Best Global Investment Bank, Best Global Private Bank and Best Global Equity House by Euromoney

2004-07-16T00:00:00.000+02:00

UBS has been named Best Global Investment Bank, Best Global Private Bank and Best Global Equity House in the 2004 Euromoney Awards for Excellence announced last night. Following a strong performance in 2003, UBS has again won a suite of awards across all business areas and regions.

UBS to buy Ersel's stake in Giubergia UBS SIM joint venture

2004-07-09T00:00:00.000+02:00

UBS agrees to buy the whole of Ersel's stake in Giubergia UBS SIM joint venture.

UBS Appoints Huw Jenkins Global Head Of Equities

2004-06-28T00:00:00.000+02:00

UBS announced today that Huw Jenkins has been appointed Global Head of Equities in the firm's Investment Bank. He will be a member of UBS Investment Bank's Executive Committee. Mr. Jenkins had been head of US Equities since 2000 and will assume his new role in August. He will relocate to London.

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 Investment Bank appoints new Chief Economist

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

UBS announces the appointment of Larry Hatheway as Chief Economist, UBS Investment Bank.

UBS Investment Bank ranked 1st place in the Thomson Extel Survey 2004 for Pan-European Equity Research, Sales, and Trading & Execution

2004-06-09T00:00:00.000+02:00

UBS Investment Bank announced today that the firm has been ranked 1st for Pan-European Equity Research in Thompson Extel Survey 2004 for the fourth consecutive year.

Niccolo Ragnini rejoins UBS Debt Capital Markets

2004-05-27T00:00:00.000+02:00

UBS announces the hire of Niccolo Ragnini to the European Debt Capital Markets Group.

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

Annual General Meeting of UBS

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

UBS Names Jeff McDermott and Alex Wilmot-Sitwell Joint Heads of European Investment Banking

2004-04-07T00:00:00.000+02:00

UBS Investment Bank announced today that Jeff McDermott and Alex Wilmot-Sitwell have been named Joint Heads of its European Investment Banking department.

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.

UBS ranked 1st place in 2004 Institutional Investor inaugural Emerging EMEA Research Team survey

2004-03-12T00:00:00.000+01:00

UBS ranked 1st place in 2004 Institutional Investor All Europe Poll for Equity Research, Sales, and Trading and Execution

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

UBS announced today that for the third consecutive year the firm has been ranked first in Institutional Investor Magazine's 2004 All-Europe Research Team survey.

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.

UBS to Sponsor New Academy in Hackney

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

UBS is the First Financial Services Company Sponsor

UBS announces Senior Management Changes to Global Equities Business

2004-01-30T00:00:00.000+01:00

UBS Investment Bank today announced a series of senior management appointments in its Global Equities business.

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.

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

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

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

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

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

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

UBS reports 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.