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UBS Swiss Real Estate Bubble Index displays moderate risk increase

2013-05-03T08:00:00.000+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

UBS consumption indicator: offsetting indicators prompt sideways shuffle

2013-04-24T08:00:00.000+02:00

UBS Outlook Switzerland: Switzerland – a world leader in location competitiveness

2013-04-18T09:15:00.000+02:00

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

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

UBS consumption indicator: Consumer sentiment thawing

2013-03-27T08:00:00.000+01:00

UBS rewards clients’ sustainable energy-saving measures

2013-03-21T15:00:00.000+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

Zug is the most competitive canton in Switzerland

2013-03-07T08:00:00.000+01:00

UBS SME barometer: Economic situation of architecture and engineering firms improves further

2013-03-06T09:00:00.000+01:00

UBS consumption indicator: Consumer sentiment subdued to start the year

2013-02-27T08:00:00.000+01:00

UBS wins prestigious Euromoney Award

2013-02-22T09:20:00.000+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 Real Estate Bubble Index: UBS Swiss Real Estate Bubble Index drifts ever further into the risk zone

2013-02-04T08:00:00.000+01:00

UBS Outlook Switzerland: Upbeat into 2013 despite downside risks

2013-01-31T08:00:00.000+01:00

UBS consumption indicator: Consumer sentiment brightens somewhat in December

2013-01-30T08:00:00.000+01:00

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

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

Swiss real estate – Interest rates still driving the market

2013-01-23T09:15:00.000+01:00

UBS Clean Energy Infrastructure Switzerland – the first investment solution for renewable energies and energy infrastructure in Switzerland launches with approximately CHF 250 million

2013-01-16T10:00:00.000+01:00

UBS consumption indicator: Consumer mood clouds slightly in November

2012-12-27T08:00:00.000+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

CIO Year Ahead: Positioning portfolios for 2013

2012-12-12T09:15:00.000+01:00

UBS SME barometer: Divergent economic circumstances for SMEs and large companies

2012-12-06T09:00:00.000+01:00

UBS appoints Hubertus Kuelps as Group Head of Communications

2012-12-05T11:00:00.000+01:00

UBS raises salaries for employees

2012-12-03T14:30:00.000+01:00

UBS consumption indicator: sentiment worse than actual situation

2012-11-27T08:00:00.000+01:00

UBS outlook Switzerland: How soon will the population break the 10-million barrier?

2012-11-08T08:00:00.000+01:00

UBS Real Estate Bubble Index: market in the risk zone

2012-11-05T08:00:00.000+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

Consumption recovers slightly in September

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

UBS Compensation Survey: Wages expected to rise by around 0.8 percent in 2013

2012-10-26T11:00:00.000+02:00

UBS research focus: Emerging market currencies: The case for an underappreciated asset class

2012-10-03T08:00:00.000+02:00

UBS SME barometer: Large companies are more resilient in the current economic environment

2012-09-27T09:00:00.000+02:00

Weak August

2012-09-25T08:00:00.000+02:00

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

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

UBS outlook Switzerland: Weak euro, not strong franc

2012-09-12T08:00:00.000+02:00

New head of Corporate Communications for UBS Switzerland appointed

2012-08-30T17:10:00.000+02:00

SBB communications head Stefan Nünlist to be new head of Corporate Communications at UBS Switzerland

Stable consumption thanks to retail sales

2012-08-28T08:00:00.000+02:00

The UBS consumption indicator fell slightly in July. The rise in retail business compensated for the drop in new car registrations to some extent.

UBS Real Estate Bubble Index: market cooling off but not reversing

2012-08-03T08:00:00.000+02:00

UBS consumption indicator: steep rise in June

2012-07-31T08:00:00.000+02:00

UBS's second quarter 2012 results

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

UBS named "Best Bank in Switzerland" by Euromoney

2012-07-06T10:30:00.000+02:00

UBS consumption indicator: Consumer sentiment worsens in May

2012-06-26T08:00:00.000+02:00

UBS SME barometer: The gloomy month of May

2012-06-21T09:00:00.000+02:00

After six months of recovery, the economic situation deteriorated ubSin May for both SMEs and large companies. In the manufacturing sector, SMEs were only marginally above the level for last November. By contrast, large companies were still way above the November 2011 level, since their previous recovery was stronger. The difference between the two business groups was less distinct in the service sector.

Higher growth in Switzerland

2012-06-07T08:00:00.000+02:00

Switzerland has got past the low point of the economic cycle. The economy has accelerated substantially in the past two quarters. The Swiss labor market is in good shape. These are the conclusions drawn by the economists at UBS CIO Wealth Management Research in the latest edition of UBS outlook Switzerland.

Continued upward trend in April

2012-05-29T08:00:00.000+02:00

UBS sets new standards with officially accredited certification for client advisors

2012-05-23T09:00:00.000+02:00

Results of the Annual General Meeting of UBS AG

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

UBS Real Estate Bubble Index is heading towards the risk zone

2012-05-03T08:00:00.000+02:00

The UBS Swiss Real Estate Bubble Index reached 0.95 index points in the first quarter of 2012, registering just below the risk zone. Given current trends, however, we expect the Real Estate Bubble Index to enter the risk zone in the present quarter. Saanen-Obersimmental, Unteres Baselbiet and Limmattal have joined the ranks of exposed regions.

UBS's first quarter 2012 results

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

Is Switzerland heading for a consumption boom?

2012-04-24T08:00:00.000+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 consumption indicator sluggish

2012-03-27T08:00:00.000+02:00

UBS announces changes to the Group Executive Board

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

UBS publishes Annual Report 2011

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

UBS launches the Cantonal Competitiveness Indicator

2012-03-01T09:00:00.000+01:00

Swiss cantons differ in their economic competitiveness. Zurich, Basel-Stadt and Zug occupy the podium places in 2012, according to the latest analysis from UBS Wealth Management Research.

UBS SME barometer: Pessimistic start to the new year for SMEs

2012-02-29T09:00:00.000+01:00

Having already cooled off at the start of 2011, the business climate continued to deteriorate in the fourth quarter of last year. Small and medium-sized enterprises (SMEs) overall, especially industrials, nevertheless rated their economic situation slightly better than large companies. For the new year SMEs anticipate further clouding of the business climate.

UBS consumption indicator: record-high new car registrations show that consumer sentiment is robust

2012-02-28T08:00:00.000+01:00

Having risen towards the end of the last year, the UBS consumption indicator remained practically unchanged in January. The undiminished high level of new car registrations shows that consumer sentiment is robust.

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

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

UBS outlook Switzerland 1st quarter 2012 - Robust domestic market helps avert a downturn

2012-02-15T08:00:00.000+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

UBS Real Estate Bubble Index: risk zone in reach

2012-02-03T08:00:00.000+01:00

The UBS Swiss Real Estate Bubble Index rose significantly to 0.80 in the fourth quarter of 2011. The index is thus edging closer to the risk zone. Basel-Stadt, Glattal-Furttal and Knonaueramt now also count as monitoring regions.

Changes to the UBS Board of Directors

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

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

UBS consumption indicator: has it bottomed out?

2012-01-31T08:00:00.000+01:00

Swiss real estate – how long will the boom last?

2012-01-18T09:30:00.000+01:00

UBS consumption indicator: Down again in November

2011-12-27T08:00:00.000+01:00

The UBS consumption indicator fell by 0.09 points in November, propped up only by a sustained high level of new car registrations. UBS expects private consumption to pick up in 2012.

UBS raises salaries for employees

2011-12-14T11:30:00.000+01:00

UBS will increase the total payroll for its employees in Switzerland, up to and including middle management, by 0.7%.

UBS SME barometer: Difficult economic environment

2011-12-01T09:00:00.000+01:00

In most industries, the economic downturn and the strong Swiss franc have affected small and medium-sized enterprises (SME) less than large companies. Nonetheless, SMEs will no longer be able to dodge the negative momentum in the third quarter. UBS WMR anticipates that economic growth in Switzerland will contract from 1.7 percent this year to 0.4 percent in the coming year due to the difficult economic environment.

UBS announces leadership changes

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

UBS consumption indicator: Recovery continues

2011-11-29T10:00:00.000+01:00

In October, the UBS consumption indicator rose again by 0.09 points. A continuously high number of new vehicle registrations, benefitted by the present currency situation, is boosting the consumption indicator further.

Strong Swiss franc takes its toll

2011-11-23T07:00:00.000+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 Swiss Real Estate Bubble Index increases in the third quarter 2011

2011-11-03T08:00:00.000+01:00

The UBS Swiss Real Estate Bubble Index stands at 0.58 in the third quarter of 2011, which indicates a continuing boom on the real estate market. The MS-regions of Morges and Oberengadin have been newly added to the risk regions, and the regions of Unteres Baselbiet and Saanen-Obersimmental are now counted among the monitoring regions.

UBS salary survey: Wages expected to rise by 1 percent in 2012

2011-10-28T11:00:00.000+02:00

UBS is expecting base salaries in Switzerland to rise in this year's wage round by an average of 1.1 percent. This estimate is based on the latest UBS compensation survey.

UBS consumption indicator: stabilization at a low level

2011-10-25T08:00:00.000+02:00

After a sharp drop in summer, Swiss consumption stabilized in September.

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

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

UBS updates its 2010 financial controls assessment

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

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

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

UBS consumption indicator: a distinct dip in August

2011-09-27T08:00:00.000+02:00

Poor business activity in the retail sector dragged the UBS consumption indicator down despite an increase in new car registrations. The strong franc dampened consumer willingness to spend, although it also increased the purchasing power of Swiss residents.

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 lowers economic forecasts

2011-09-07T08:00:00.000+02:00

UBS consumption indicator: pessimistic mood despite solid figures

2011-08-30T08:00:00.000+02:00

The UBS consumption indicator fell by another 0.23 points: In July, it reached a level of 1.29 points, with the pessimistic mood of consumers and retailers contributing significantly to this decline.

Impact of the cost reductions in Switzerland

2011-08-23T07:27:00.000+02:00

UBS update on cost reduction plans

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

UBS SME barometer: Situation of SMEs varies according to sector

2011-08-18T09:00:00.000+02:00

In the construction industry, in tourism and above all in the retail sector, SMEs fared better in the second quarter than large corporations. In industry, however, the opposite applies. Retail companies continue to struggle in a difficult business environment, with large companies forced to accept a massive worsening of their situation, particularly with regard to turnover and sales prices. Overall, falling prices present a persistent problem, regardless of company size.

UBS Swiss Real Estate Bubble Index virtually unchanged during the second quarter 2011

2011-08-03T08:00:00.000+02:00

The UBS Swiss Real Estate Bubble Index stands at 0.65 in the second quarter of 2011, which indicates a continuing boom on the real estate market. The selection of risk regions remains unchanged.

UBS consumption indicator at its lowest level this year

2011-07-26T08:00:00.000+02:00

All components of the UBS consumption indicator were down in June.

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 outlook Switzerland Q3 2011 - Economy grows despite record-high franc

2011-07-13T08:00:00.000+02:00

The strong franc has yet to impact the labor market. Most companies responding to UBS's quarterly survey plan to increase their headcount in the third quarter. The franc has also slowed exports, which continue growing and have exceeded pre-crisis levels.

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

UBS launches extensive mobile banking services

2011-06-30T14:10:00.000+02:00

UBS clients who are on the go can now access information on their accounts and custody accounts, call up market information and use an iPhone App to perform tasks such as scanning in paying-in slips.

UBS consumption indicator at a high for the year

2011-06-28T08:00:00.000+02:00

In May the UBS consumption indicator reached a new high for the year due to booming car sales and improving retail business.

UBS Consumption Indicator: Slight setback in consumer spending

2011-05-31T08:00:00.000+02:00

Although the UBS Consumption Indicator showed a slight decline in April, it still indicates moderate growth in consumption.

UBS launches Swiss Real Estate Bubble Index

2011-05-30T08:00:00.000+02:00

UBS Wealth Management Research Switzerland is now publishing UBS Swiss Real Estate Bubble Index every quarter. The index level in the first quarter of 2011 indicates that the Swiss residential real estate market is in a boom phase and not a bubble.

Results of UBS AG's Annual General Meeting

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

UBS Consumption Indicator: new car registrations drive increase in March

2011-04-26T08:00:00.000+02:00

Strongest February in 10 years for new car registrations does not compensate slump in retail business

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.

Strong franc weakens export profit margins

2011-04-13T08:00:00.000+02:00

The strong franc is starting to impact Swiss exports. The UBS quarterly survey shows that profits are stagnating, even though industry sales have risen. Nevertheless, the UBS economic indicator projects gross domestic product growth of 2.7 percent for the first quarter of 2011.

UBS Consumption Indicator: decline continues in February

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

Strongest February in 10 years for new car registrations does not compensate slump in retail business

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.

The recovery forges ahead

2011-03-03T00:00:00.000+01:00

Having rapidly overcome the crisis, Swiss companies now expect growth to tail off slightly in the current quarter. However, the situation varies depending on the size of the company and the sector of operation. Thus, for example, SMEs in the building and construction sector are benefiting more from the construction boom in Switzerland than larger companies. In the service sector, by contrast, SMEs had a harder time in the last quarter of 2010 than large enterprises.

William Kennedy appointed Head of Investment Products and Services (IPS) at UBS Wealth Management

2011-02-24T08:30:00.000+01:00

UBS Consumption Indicator: setback in January

2011-02-22T08:00:00.000+01:00

Positive business activity in the retail sector, slowdown in new car registrations

Change on UBS Board of Directors

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

UBS outlook Switzerland Q1 2011 - Global economic growth offsetting impact of strong franc

2011-02-09T08:00:00.000+01:00

The Swiss economy will probably grow by more than two percent this year. According to UBS Research Switzerland, the strong domestic economy will offset weak exports. Inflation will likely pick up.

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 Consumption Indicator indicates good Christmas season

2011-01-25T08:00:00.000+01:00

Strong retail sales and new car registrations in December

UBS appoints Christine Novakovic head of the Corporate & Institutional Clients business area and Manuel Leuthold vice chairman

2011-01-20T07:30:00.000+01:00

New Swiss real estate study: UBS real estate focus 2011 - Continued upswing for the Swiss real estate market

2011-01-19T11:30:00.000+01:00

UBS Research Switzerland expects residential real estate prices to increase again in 2011. Real estate market drivers are solid. Areas where prices have overheated will struggle to return to normality.

UBS to become a main partner of the Swiss Federal Wrestling and Alpine Games Festival in 2013

2011-01-18T17:00:00.000+01:00

The Swiss Federal Wrestling and Alpine Games Festival enjoys great popularity among all age groups and sections of the population. At the next Schwingfest, or wrestling festival, due to take place in Emmental in 2013, UBS will again, as it did in 2007, take on a sponsoring commitment as one of six main partners.

The Swiss Federal Wrestling and Alpine Games Festival stands for values such as tradition, familiarity and authenticity, but also emotionality and professionalism. «No other sport is so directly associated with traditional authentic Swiss customs as alpine wrestling,» said Lukas Gähwiler, CEO UBS Switzerland. «This commitment shows our close bond with Switzerland.»

UBS has supported numerous major events in the area of sports and culture in Switzerland for many years. This support encompasses UBS's partnership with Swiss Tourism and its sponsorship of the grass-roots youth event, UBS Kids Cup – one in a series of competitive track and field events for youths aged 7 to 15 conducted throughout Switzerland. The Swiss Federal Wrestling and Alpine Games Festival optimally supplements this sponsorship portfolio.

UBS Consumption Indicator: Signs of above-average growth in consumption

2010-12-28T08:00:00.000+01:00

New car registrations on the increase, retail business activity declining

UBS raises salaries for employees

2010-12-23T13:00:00.000+01:00

UBS will increase the total payroll for its employees in Switzerland, up to and including middle management, by 2%.

UBS announces changes to the Group Executive Board

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

UBS Consumption Indicator: A stable October

2010-11-30T08:00:00.000+01:00

UBS Consumption Indicator signals strong consumption growth

Swiss SMEs: Employment increasing again

2010-11-25T08:00:00.000+01:00

The Swiss economy continues to grow. The companies surveyed by UBS are forecasting a continuing improvement in the business climate, and in the near future – despite a possible slowdown in growth – see no cause for concern. The earnings and cash flow of small and medium-sized enterprises (SMEs) have stabilized, and there has been a year-on-year increase in the workforce.

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

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

UBS outlook Switzerland Q4 2010 - The Swiss economy thrives despite the strong franc

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

The Swiss economy continues to grow. UBS Research Switzerland thinks the domestic economy should thrive over the next two years, compensating for weaker exports.

UBS compensation survey: Nominal wages expected to rise by 1.6% in 2011

2010-10-29T11:00:00.000+02:00

The latest UBS compensation survey points to a significant rise in nominal salaries in 2011. In this year's wage round, a rise of 1.6% in average base salaries is expected.

UBS Consumption Indicator shows consumer demand deteriorated in September

2010-10-26T08:00:00.000+02:00

UBS still expects consumption to grow robustly in the coming quarters.

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

Daniel Kalt to become new Chief Economist Switzerland

2010-10-19T08:00:00.000+02:00

UBS has appointed Daniel Kalt to the post of Chief Economist Switzerland, effective 1 November 2010. In his new function, he will report to Andreas Höfert, UBS Chief Economist for Wealth Management & Swiss Bank. Andreas Höfert will continue to analyze global economic and investment themes, while Daniel Kalt will mainly address the latest developments in the Swiss economy.

Daniel Kalt (born in 1969) has been with UBS since 1997, when he joined the bank as an economist in Research Switzerland. From 2000 onwards he worked in credit portfolio management for the corporate and private client credit business in Switzerland. Since 2003 he has held various management positions at UBS Wealth Management Research, most recently as head of economic analysis.

Andreas Höfert: «Switzerland is so important for UBS that we wanted to have a specialized chief economist for this market. For our clients in Switzerland, we will produce more analyses and recommendations which focus on the Swiss economy.»

Daniel studied Economics at the University of Zurich and completed his doctorate at the University of Bern in 2000 with an investigation into the credit and real estate crisis in Switzerland in the 1990s.

Daniel works closely with the management team of UBS Switzerland under the leadership of Lukas Gähwiler.

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 Consumption Indicator continues to go up

2010-09-28T08:00:00.000+02:00

The broadly based rise in the UBS Consumption Indicator in July continued in August.

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 appoints Christian Wiesendanger as Head of Wealth Management Switzerland

2010-09-24T00:00:00.000+02:00

Christian Wiesendanger has been appointed Head of Wealth Management Switzerland with effect from October 1, 2010. In this position, he will report to Lukas Gähwiler, the CEO of UBS Switzerland.

UBS study: «Prices and Earnings»

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

A comparison of purchasing power around the globe, 2010 update

UBS Consumption Indicator points to further increase in consumer demand

2010-08-31T08:00:00.000+02:00

The rise in the UBS Consumption Indicator in July was broad-based, with all sub-indicators improving.

Swiss SMEs: Sales are up from a year ago

2010-08-26T08:00:00.000+02:00

Small and medium-sized enterprises (SMEs) in Switzerland have seen an increase in sales year-on-year. But going into the third quarter, it does not look likely that growth will accelerate. Prospects for apprentices, however, are very encouraging. These are the findings of the quarterly survey conducted in May and June by UBS, in cooperation with the Swiss Industry and Trade Association.

UBS Consumption Indicator rises in June

2010-07-27T08:00:00.000+02:00

The sharp increase in new car registrations was the main driver of the rise in the UBS Consumption Indicator in June.

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 outlook Switzerland Q3 2010 - A strong domestic economy and a strong franc pose a dilemma for the Swiss National Bank

2010-07-14T08:00:00.000+02:00

The Swiss economy continues to grow. UBS Wealth Management Research expects the Swiss National Bank to tighten its monetary policy in September in order to slow down domestic economic activity and the real estate market.

UBS Consumption Indicator rose only slightly in May

2010-06-29T08:00:00.000+02:00

A drop in business activity in the retail sector slows down the rise of the UBS Consumption Indicator in May.

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

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

UBS and social partners have agreed to renew the social plan

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

UBS, together with its Employee Representation Committee (ERC), the Swiss Association of Bank Employees (SBPV) and the Swiss Association of Commercial Employees (KV Schweiz), has extended the social partnership agreement (SOVIA CH) for labor market Switzerland that was concluded in 2008.

Pillar 3a: UBS Vitainvest Funds repositioned

2010-05-25T09:00:00.000+02:00

- Fixed management fees cut - Existing Vitainvest funds realigned - New retirement funds with Swiss investment focus

UBS Consumption Indicator signals acceleration in consumer spending

2010-05-25T08:00:00.000+02:00

The UBS Consumption Indicator rose again in April, signaling an acceleration in private consumer spending in Switzerland.

Swiss small and mid-size companies stable

2010-05-20T08:00:00.000+02:00

According to the latest UBS survey, small and medium-sized Swiss enterprises succeeded in stabilizing their overall revenues in the first quarter at last year's levels. As expected, prices remained under pressure during the quarter, while profits fell slightly. Small and medium-sized enterprises reduced their personnel slightly. Although survey participants expect a further drop in sales prices in the second quarter, they also expect to be able to maintain profits and employment at last year's level.

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."

UBS Consumption Indicator: Steep rise in March

2010-04-27T08:00:00.000+02:00

The UBS Consumption Indicator rises steeply in March, confirming UBS’s optimistic outlook for the economy.

UBS Outlook Switzerland Q2 2010 - Immigration counteracts weak growth

2010-04-21T08:00:00.000+02:00

Since 2004, the economy in Switzerland grew faster than in the Eurozone by around one percentage point each year. The economists at UBS Wealth Management Research (WMR) have identified immigration from the EU as one driver of growth.

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 Consumption Indicator: Slight decline in February

2010-03-30T08:00:00.000+02:00

The UBS Consumption Indicator fell slightly in February. Since the middle of last year, it has underestimated consumption growth.

UBS appoints Lukas Gähwiler CEO UBS Switzerland

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

UBS raises growth forecast for Switzerland

2010-03-22T09:00:00.000+01:00

UBS has raised its 2010 growth forecast for Switzerland from 2.0% to 2.5%. The favorable economic situation is expected to lead to a decline in the unemployment rate, but also to increasing inflationary pressure, rising interest rates as well as a strengthening of the Swiss franc.

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 Consumption Indicator: Continuation of the upward trend in January

2010-02-23T08:00:00.000+01:00

Following a modest decline in December, the UBS Consumption Indicator returned to its upward course in January. Its current level points to a remarkably robust expansion of private consumption.

Swiss SMEs: Turnover to return soon to last year's level

2010-02-18T08:00:00.000+01:00

According to the latest UBS survey conducted in December and January, business improved slightly for small and medium-sized enterprises (SMEs) in the fourth quarter. The pace of declining cash flows and turnover slowed considerably and staff cutbacks were halted. Companies are not anticipating a substantial improvement in business in the first quarter, but the industrial and service sectors are still expecting turnover to stabilize at last year's level.

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 Outlook Switzerland Q1 2010 - UBS economists raise growth forecasts

2010-02-08T08:00:00.000+01:00

UBS economists expect economic acceleration in 2010 and have raised their growth forecast from 1.7% to 2.0%. The results of the quarterly survey of roughly 650 companies confirm this positive outlook.

UBS Consumption Indicator shows modest decline in December

2010-01-26T08:00:00.000+01:00

After a sharp increase in November, the UBS Consumption Indicator declined slightly in December. The current level of the Consumption Indicator points to a clearly positive, although still below average, expansion of private consumption. UBS economists expect that rising unemployment will continue to negatively influence consumer sentiment.

UBS consumption indicator hits the year's high, but remains below its long-term average

2009-12-29T08:00:00.000+01:00

In November, the UBS consumption indicator rose once again compared to the previous month. At 1.28, it reached its highest level since September 2008, although it still remains below its long-term average of 1.5. While this marks a significant improvement in consumer sentiment, the expected rise in unemployment in the coming months is likely to dampen spending again. UBS economists do not expect consumer spending to recover until the second half of next year.

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 increases total payroll for employees governed by the Agreement on Conditions of Employment for Bank Staff

2009-12-08T08:00:00.000+01:00

As of 1 March 2010, UBS will increase the total payroll for its employees working in Switzerland by 1.2% up to and including middle management.

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

UBS consumption indicator posts a modest rise but Swiss private consumption remains flat

2009-11-24T08:00:00.000+01:00

The UBS consumption indicator rose slightly in October, but this does not represent a trend reversal. The indicator has languished at low levels this year, and with unemployment on the rise, consumption spending is likely to suffer. UBS economists do not expect consumer spending to recover until the second half of next year.

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

Swiss SMEs: Very little good news and growing administrative burden

2009-11-05T08:00:00.000+01:00

According to the latest UBS survey, conducted in September, small and medium-sized enterprises (SMEs) saw only marginal improvements in business in the third quarter. While the pace of declining cash flows and revenues slowed somewhat, staff cutbacks continued. Companies anticipate no substantial improvement in business for the fourth quarter. Administrative burdens have tended to increase over the last twelve months, according to information from SMEs.

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 salary survey: nominal wages expected to rise by 0.8%

2009-10-30T15:00:00.000+01:00

The latest UBS salary survey points to a slight rise in nominal salaries in 2010. Following this year's wage round, average base salaries should rise by 0.8% in Switzerland.

Still no sign of recovery in Swiss private consumption

2009-10-27T08:00:00.000+01:00

There continues to be no sign of a sustainable recovery in private consumption in Switzerland. Although the UBS consumption indicator managed to stabilize in September, rising unemployment is likely to put a damper on consumer spending in the coming months. UBS economists expect a gradual recovery of consumption in the first half of next year and growth in GDP of 1.7% in 2010 and 2.1% in 2011.

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

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

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

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

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

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

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

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

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

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

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

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

UBS outlook Switzerland 4th quarter 2009 - Swiss economy soon back on growth track

2009-10-15T08:00:00.000+02:00

The Swiss economy has now bottomed out and should return to positive growth in the fourth quarter. The UBS Business Cycle Indicator, which is based on a quarterly survey, is pointing to renewed expansion.

Private consumption remained under pressure in August

2009-09-29T08:00:00.000+02:00

The economy is exerting pressure on consumer spending. The UBS consumption indicator has weakened once again in August and at 0.66 is clearly below its long-standing average of 1.5. Despite the decline, the indicator continues to hint at a modest expansion in Swiss private consumption.

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

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

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

UBS consumption indicator again lower

2009-08-25T08:00:00.000+02:00

In July, the UBS consumption indicator continued in its downward trend after following last month's temporary rise. The indicator recorded a level of 0.77, representing the tenth time in a row it has registered below its long-term average of 1.5. The indicator's level hints at a modest expansion in Swiss private consumption.

Times still hard for SMEs - Apprenticeship market intact

2009-08-20T08:00:00.000+02:00

The slump in business suffered by small and medium-sized enterprises (SMEs) in Switzerland in the first quarter, persisted during the second quarter. Revenues and cash flows fell further and even minor staff cutbacks continued. A sector comparison revealed that industrial SMEs appear to be suffering most in the current economic environment, but they expect the situation to improve in the third quarter. The survey findings on apprenticeships are more encouraging.

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.

The UBS consumption indicator regains some ground

2009-07-28T08:00:00.000+02:00

Following a 12-month downswing, the UBS consumption indicator recovered slightly in June. However, it still remains below its long-term average. While the indicator's level hints at a modest expansion in Swiss private consumption, the environment for the coming months remains difficult.

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.

UBS outlook Switzerland 3rd quarter 2009 - UBS Business Cycle Indicator reaches historic low

2009-07-07T09:00:00.000+02:00

In the second quarter of 2009, the UBS Business Cycle Indicator reached a historic low. According to UBS's quarterly survey in Swiss industry, new orders, sales, earnings and production dropped, while job cuts accelerated further. Prospects for the third quarter remain dismal.

UBS consumption indicator falls further

2009-06-30T08:00:00.000+02:00

The UBS consumption indicator continued to fall in May. At 0.77, it remained below its long-term average. At its current level, the UBS consumption indicator suggests that Swiss consumer spending is still rising slightly. Its prospects are, however, becoming increasingly gloomy.

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 consumption indicator slightly falling

2009-05-26T08:00:00.000+02:00

The UBS consumption indicator fell slightly in April. At 0.92 it remained below its long-term average. At its current level, the UBS consumption indicator signals that Swiss consumer spending is continuing to increase slightly. The prospects are, however, becoming increasingly gloomy.

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.

SME: severe setbacks in exports

2009-05-14T09:00:00.000+02:00

Small and medium-sized enterprises (SMEs) in Switzerland had expected a decisive cut in business activity in the first quarter. However, the actual downtrend turned out to be considerably more severe than anticipated in the previous quarter, particularly for the exports of SMEs. Against a backdrop of falling revenues, profits and sales prices, SMEs have started to downsize their workforces.

UBS names Andreas Höfert new chief economist in Switzerland

2009-05-08T16:30:00.000+02:00

UBS has named Andreas Höfert the chief economist of Wealth Management & Swiss Bank.

Andreas Höfert (1967) has been with UBS since 1999, first as a senior economist in Corporate Center and later as the head of Swiss Macroeconomic Research in the Investment Bank. He was also the head of Macro and Fixed Income Research for Wealth Management in the US before his current role.

Oswald J. Grübel, Group CEO, said: "The role of the chief economist has an important meaning at UBS. In these times of fundamental economic change, independent analysis and recommendations are critical for our clients."

Andreas Höfert studied economics with a specialization in international macroeconomics and econometrics at the University of St. Gallen, where he also received his PhD. He is a Swiss citizen and is from Geneva.

The previous chief economist, Klaus Wellershoff, is concentrating on his ongoing projects as an independent economic expert. UBS thanks Klaus Wellershoff for his outstanding work as a long-time chief economist and wishes him much success in his future entrepreneurial endeavors.

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 outlook, 2nd quarter 2009 - Swiss manufacturers and service providers deep in recession

2009-04-29T09:00:00.000+02:00

Swiss companies continue to struggle in a difficult market environment. According to the latest UBS survey in the first quarter of 2009, exporters are particularly feeling the heat. Domestically oriented industries and service providers, on the other hand, are not faring as badly. Expectations for the second quarter remain poor.

UBS consumption indicator recovers slightly

2009-04-28T08:00:00.000+02:00

The UBS consumption indicator rose slightly in March. However, at 0.99, it remains below its long-term average. At its current level, the UBS consumption indicator signals that Swiss consumer spending is continuing to increase slightly. The prospects are, however, becoming increasingly gloomy.

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.

UBS consumption indicator continues to decline

2009-03-31T08:00:00.000+02:00

The UBS consumption indicator fell slightly in February. Although at 0.89 it continues to signal some growth in private consumption, it remains below its long-term average for the fifth consecutive month. As a consequence, the prospects for Swiss consumer spending are looking increasingly gloomy.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bond

2009-03-31T08:00:00.000+02:00

As of today, the following rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds:

In order to further enhance the attractiveness of UBS fixed deposit accounts and UBS medium-term bonds, clients now have the opportunity to invest from 5,000 CHF versus the previous 25,000 CHF for a one-year period.

The recession hits Swiss SMEs

2009-03-19T08:00:00.000+01:00

Small and medium-sized enterprises in Switzerland are increasingly feeling the economic downturn. Business development stagnated in the fourth quarter of 2008, and companies' expectations suggest that business has declined appreciably since the start of the year.

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 moves to a lean management structure in Switzerland

2009-03-12T10:30:00.000+01:00

UBS has consolidated the eight regions it serves in Switzerland to four and strengthened the position of those responsible for client services.

UBS publishes 2008 annual report

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

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

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

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

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

UBS appoints Oswald J. Grübel as Group Chief Executive Officer

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

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

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

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

UBS took notice of the communiqué and will defend itself vigorously

UBS consumption indicator falls in January

2009-02-24T08:00:00.000+01:00

In January, the UBS consumption indicator once again embarked on the downtrend seen in recent months. Although with 0.99 it continues to show positive growth in private consumption, it remains below its long-term average for the fourth time in a row. As a consequence, the prospects for Swiss consumer spending are looking increasingly gloomy.

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

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

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

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

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

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

Preparing UBS for the new market environment

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

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

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

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

Year-end tier 1 capital ratio of 11.5%

UBS outlook, first quarter 2009 - Business downturn at Swiss companies

2009-01-29T08:00:00.000+01:00

The business trend of Swiss companies deteriorated abruptly around the turn of the year. According to the latest UBS survey, most of the indicators for the fourth quarter 2008 have descended into negative territory, and the expectations for the first quarter 2009 are even gloomier.

UBS consumption indicator recovers slightly

2009-01-27T10:00:00.000+01:00

In December, the recent downward trend of the UBS consumption indicator stopped. However, at 1.15, it remains below its long-term average. As a consequence, the prospects for Swiss consumer spending are looking increasingly gloomy.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bond

2009-01-22T09:00:00.000+01:00

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 consumption indicator continues to soften

2008-12-30T10:00:00.000+01:00

The UBS consumption indicator softened further in November. At 0.96, it was at its lowest level since March 2005 and remained under its long-term average value for the second time in a row. The outlook for private consumption in Switzerland is thus continuing to worsen.

UBS to lower interest rates on savings and euro accounts

2008-12-18T09:00:00.000+01:00

Change of interest rates for UBS Time Deposit Accounts and Medium-Term Bonds

2008-12-12T17:00:00.000+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.

Private consumption experiencing slower growth

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

After a slight increase in September, the UBS consumption indicator noticeably fell in October. At 1.32, it dropped below its long-term average value for the first time in two and a half years. The outlook for private consumption in Switzerland is thus becoming increasingly dim.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2008-11-19T17:00:00.000+01:00

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.

UBS increases total payroll for employees governed by the agreement on conditions of employment for bank staff

2008-11-13T10:00:00.000+01:00

As of 1 March 2009, UBS will increase the total payroll for its employees working in Switzerland by 2% up to and including middle management.

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 salary survey: 2009 wage round likely to generate real wage increases of 1.0%

2008-10-31T10:00:00.000+01:00

UBS raises interest rates on savings accounts

2008-10-31T09:00:00.000+01:00

UBS consumption indicator recovers slightly

2008-10-28T10:00:00.000+01:00

Following the marked downward movement seen in July and August, the UBS consumption indicator recovered again slightly in September. At its current level of 1.67, it still signals that Swiss consumer spending has continued to develop healthily. However, prospects are looking increasingly gloomy.

UBS SME barometer 4th quarter 2008 - SME activity: a slow pace to the end of the year

2008-10-23T09:00:00.000+02:00

The slowdown anticipated by Swiss, small and medium-sized enterprises (SMEs) materialized in the 3rd quarter. However, growth was still clearly in positive territory. SMEs expect recent trends to continue in the 4th quarter, with growth in the SME sector declining further, while the business climate remains positive, and new jobs are still being created. However, SME earnings could show a decline year-on-year.

UBS economists expect global recession

2008-10-22T10:30:00.000+02:00

US: at least four quarters of declining economic output expected starting from the second half of the year, followed by sluggish recovery. A recession is inevitable even in Europe, especially in countries with marked imbalances; central banks likely to further lower key rates Marked growth slowdown spreads to Asia; Japan facing stagnation, China has room for manoeuvre in its monetary and fiscal policy.

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 outlook, 4th quarter 2008

2008-10-09T10:15:00.000+02:00

Swiss industrial sector shifts down a gear In the third quarter of 2008, the wind has changed in Swiss industry. Although the latest UBS survey confirms that growth stimuli are still around, their momentum is dwindling. Company expectations for the fourth quarter are only just on the positive side.

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 consumption indicator continues its downward trend

2008-09-30T10:00:00.000+02:00

Since the interim high in June, the UBS consumption indicator has fallen consistently. The distinct adjustment in July was followed by another drop in August to 1.62. At its current level, the UBS consumption indicator still signals that Swiss private consumption is continuing its solid development, but prospects are looking increasingly gloomy.

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 economists revise their forecasts for the Swiss economy

2008-09-03T08:00:00.000+02:00

The Swiss economy is still quite resilient. However, it is increasingly apparent that the economy will slow down significantly in the coming months. Due to the gloomy outlook for the world economy, UBS economists revise down their forecasts for the Swiss economy. They now expect real Gross Domestic Product to expand by 1.9% this year and 1.0% next year.

UBS consumption indicator falls significantly in July

2008-08-26T10:00:00.000+02:00

In the wake of June's temporary high, the UBS consumption indicator has fallen significantly. The dip by almost 0.4 points to 1.85 is the largest correction seen during a single month for just under a year. At its current level, the indicator signals that Swiss consumer spending remains healthy, but the outlook is looking increasingly gloomy.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2008-08-26T10:00:00.000+02:00

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.

Report "UBS research focus" of UBS Wealth Management Research

2008-08-19T10:00:00.000+02:00

Mind over matter

UBS economists expect lengthy period of economic weakness

2008-08-19T09:00:00.000+02:00

US: Effects of interest rate and fiscal stimuli fading; recession in second half of year; no rapid recovery in sight. Significant slowdown in Europe as well, with still high inflation preventing European central banks from lowering interest rates for the moment. Asian economies surprisingly resistant so far, but growth likely to slow increasingly; Japan on the verge of recession. US dollar expected to strengthen as economic weakness begins to make itself felt outside the US.

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 SME barometer 3rd quarter 2008 - SME sector: Service-providers ahead by a nose

2008-07-30T09:00:00.000+02:00

The business climate among Swiss SMEs remained positive in the second quarter. However, the latest UBS survey confirms that the solid growth momentum of recent quarters is fading a bit. As in the previous quarter's survey, service-providers again fared better in the second quarter than industrial companies among Swiss SMEs.

UBS Consumption Indicator up sharply in June

2008-07-29T10:00:00.000+02:00

After a steady slide since February, the UBS Consumption Indicator recovered significantly in June. The gain of 0.3 points to 2.25 marks the largest monthly increase since April 2007. At its current level, the Indicator signals that Swiss consumer spending remains healthy.

Social partnership agreement (SOVIA CH) concluded by the Swiss Association of Bank Employees, the Swiss Association of Commercial Employees and UBS's in-house Employee Representation Committee

2008-07-28T10:00:00.000+02:00

Following UBS' 6 May 2008 announcement of redundancies, the Swiss Association of Bank Employees (SBPV) and the Swiss Association of Commercial Employees (KV Schweiz) have, as social partners, joined with UBS' own Employee Representation Committee in signing a social plan.

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 outlook, 3rd quarter 2008 - Swiss industrial sector not yet out of steam

2008-07-10T08:00:00.000+02:00

The Swiss industrial sector is still performing well. While the latest UBS survey found that growth momentum is slowly easing off, all indicators for the second quarter and expectations for the third quarter remain in positive territory.

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 launches a new exchange traded fund on the MSCI World Index®

2008-07-01T10:00:00.000+02:00

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 consumption indicator softens in May

2008-06-24T10:00:00.000+02:00

The UBS consumption indicator fell again in May compared to the previous month, but remained nevertheless at a relatively high level. In light of continued positive developments in the labor market, economists at UBS remain optimistic that private consumption will play a supporting role for the economy.

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.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2008-06-06T17:00:00.000+02:00

As of Monday, 9 June 2008 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS consumption indicator shows continued solid growth in consumer spending

2008-05-27T10:00:00.000+02:00

The UBS consumption indicator showed another slight decline in April. However, at 2.18 the indicator confirms last year's high levels, and is still significantly above its long-term average. As such, it is a sign of continuing solid growth in consumer spending in Switzerland.

UBS AG announces final terms of the announced rights issue

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

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

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

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

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

UBS SME barometer 2nd quarter 2008 - SME sector: mood remains upbeat as economy slows

2008-05-08T09:00:00.000+02:00

Business confidence among Swiss SMEs remained strong during the first quarter. While industrial SMEs experienced a slight deterioration in fortunes, the situation improved for service providers, who managed to maintain the excellent business climate of the previous two quarters. However, Swiss SMEs still failed to gain any ground against large Swiss companies.

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 Consumption Indicator shows modest decline in March

2008-04-29T10:00:00.000+02:00

After a sharp increase in February, the UBS Consumption Indicator pulled back slightly in March. But at 2.29 the indicator confirmed the high level of the previous month, and it is still significantly above its long-term average. As such, it is a sign of continuing solid growth in consumer spending in Switzerland.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2008-04-24T17:00:00.000+02:00

As of Friday, 25 April 2008 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS outlook, 2nd quarter 2008 - Swiss industry sustains its momentum

2008-04-15T09:00:00.000+02:00

Swiss industrial activity continues to power ahead. According to the latest UBS survey, capacity utilization will actually rise to 90.4% in the second quarter. The momentum, however, is gradually easing.

UBS Exchange Traded Funds (UBS ETFs): benchmark switch and name changes

2008-04-11T10:00:00.000+02:00

The MSCI index family becomes the new benchmark for UBS ETFs investing in Japanese and US equities

UBS raises interest rates for Time Deposit Accounts and Medium-Term Bonds as well as retirement accounts

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

UBS is increasing interest rates for UBS Time Deposit Accounts and Medium-Term-Bonds as well as for its retirement savings accounts.

For UBS Time Deposit Accounts and Medium-Term Bonds the changes will come into effect on 15 April 2008.

As of Tuesday, 15 April 2008 the following interest rates shall apply:

UBS raises interest rates for retirement accounts

2008-04-09T09:00:00.000+02:00

UBS is increasing interest rates for its retirement savings accounts, UBS Fisca account (pillar 3a) and UBS unrestricted retirement account 3b. The changes will come into effect on 1 Mai 2008.

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.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2008-03-27T09:00:00.000+01:00

As of Friday, 28 March 2008 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator surges strongly in February

2008-03-25T10:00:00.000+01:00

The UBS Consumption Indicator surged noticeably in February after having declined slightly over the past three months. At 2.32 the indicator is at its highest level in eight months, and keeps running significantly above its long-term average, pointing to robust growth in Swiss private consumption.

UBS expects continuing strong growth in 2008 for the Swiss economy

2008-03-20T09:00:00.000+01:00

The Swiss economy remains in good health. Economic growth is broadly based, and leading indicators point to continuing robust economic expansion in 2008. However, the outlook for 2009 has weakened, owing to the slowdown in the global economy and the appreciation of the Swiss franc. Accordingly, UBS still expects the economy to grow 2.3% in 2008, but has lowered its forecast for 2009 to 1.4%.

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.

Disclosure of shareholdings

2008-03-10T07:00:00.000+01:00

Based on article 20 of the Federal Act on Stock Exchanges and Securities Trading (SESTA) UBS AG, Bahnhofstrasse 45, 8098 Zurich, makes the following announcement:

As of 29 February 2008 UBS AG held a stake of 5.73% of acquisition positions (proportion of voting rights) of registered shares of UBS AG. These comprised 104,858,252 (5.06%) registered shares of UBS AG with voting rights and 6,831,700 acquisition rights with 6,831,700 (0.33%) voting rights and 7,222,589 written disposal rights with 7,222,589 (0.34%) voting rights of registered shares of UBS AG.

At the same time UBS AG held a stake of 25.97% (538,431,438) disposal positions (proportion of voting rights) of registered shares of UBS AG. These comprised 9,270,655 disposal rights with 9,270,655 (0.45%) voting rights of registered shares of UBS AG and 529'160'783 written acquisition and convertible rights with 529'160'783 (25.52%) voting rights of registered shares of UBS AG.

Disclosure of shareholdings as of 27 February 2008 (1)

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

Based on article 20 of the Federal Act on Stock Exchanges and Securities Trading (SESTA) UBS AG, Bahnhofstrasse 45, 8098 Zurich, received the following information from the Government of Singapore Investment Corporation Pte. Ltd. ("GIC"), 168 Robinson Road, #37-01, Capital Tower, Singapore 068912, for publication:

As of 27 February 2008 the Government of Singapore, 100 High Street, #10-01, The Treasury, Singapore 179434, indirectly through its subsidiary GIC, held a stake of 9.544% of acquisition positions (proportion of voting rights) relating to registered shares of UBS AG. These positions comprise 8,316,717 (0.358%) registered shares of UBS AG, with voting rights, and the right to acquire conversion rights on 213,675,213 (9.186%, both figures excluding dilution from the stock dividend) registered shares of UBS AG in the form of mandatory convertible notes ("Mandatory Convertible Notes") on 5 March 2008.

By recommendation of the Disclosure Office of the SWX Swiss Exchange dated 30 January 2008, the Government of Singapore was granted an exemption to the effect that the basis of the present calculation of the proportion of voting rights may be the share capital currently recorded in the Commercial Register plus the maximal number of registered shares of UBS AG to be issued upon the future conversion of the Mandatory Convertible Notes in the aggregate amount of CHF 13 billion, being a total number of 2,326,072,597 registered shares (figure excluding dilution from stock dividend).

Based on the maximum number of shares to be issued under the Mandatory Convertible Notes and taking into account the shares to be issued in connection with the stock dividend, GIC, as a result of the conversion, would hold approximately 8.8% of UBS's shares.

GIC is wholly owned by the Government of Singapore and manages the reserves of Singapore. It acts as fund manager of the Government of Singapore, the Monetary Authority of Singapore and MND Holdings (Private) Limited. The shares already held for the latter legal entities are included in the reported positions.

The notification obligation was triggered by a Letter Agreement dated 9 December 2007 between GIC and UBS AG and regarding the purchase by GIC of the Mandatory Convertible Notes in the amount of CHF 11 billion. In its recommendation dated 30 January 2008 the Disclosure Office of the SWX Swiss Exchange granted an adjournment of the notification.

Disclosure of shareholdings as of 27 February 2008 (2)

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

Based on article 20 of the Federal Act on Stock Exchanges and Securities Trading (SESTA) UBS AG, Bahnhofstrasse 45, 8098 Zurich, makes the following announcement.

As of 27 February 2008 UBS AG held a stake of 8.22% of acquisition positions (proportion of voting rights) of registered shares of UBS AG. These comprised 160,035,778 (7.72%) registered shares of UBS AG with voting rights and 4,391,161 acquisition rights with 4,156,422 (0.20%) voting rights and 95,000 disposal rights with 6,237,691 (0.30%) voting rights.

At the same time UBS AG held 475,926,202 (22.95%) disposal positions (proportion of voting rights) of registered shares of UBS AG. These comprised conversion rights on 252,525,253 (12.18%¹) registered shares of UBS in the form of mandatory convertible notes ("Mandatory Convertible Notes") to be issued to the Government of Singapore Investment Corporation Pte. Ltd. (GIC) and another investor on March 5, 2008, 5,833,142 disposal rights with 9,692,357 (0.47%) voting rights, 126,970 written acquisition rights for registered shares of UBS AG with 23,863,611 (1.15%) voting rights and 189,844,981 employee options with 189,844,981 (9.15%) voting rights. 150,121,702 (7.24%) shares to be issued based on conditional capital are available to service the employee options.
1) Excluding dilution from the stock dividend and MCN.

Based on the maximum number of shares to be issued under the Mandatory Convertible Notes, GIC and the other investor, as a result of the conversion, would hold approximately 10.4% of UBS's shares (after distribution of the stock dividend and in the absence of any dilutive events).

UBS directly and indirectly holds the acquisition and disposal positions through the following companies:

UBS Convertible Securities (Jersey) Limited, 24 Union Street, St. Helier JE2 3RF, Jersey.

UBS Global Asset Management Holding (No. 2) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom (indirectly through UBS Global Asset Management Holding Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom, indirectly through UBS Global Asset Management (UK) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom) and (indirectly through UBS Global Asset Management Holding Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom, indirectly through UBS Global Asset Management Life Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom) and

UBS Wealth Management (UK) Ltd, 1 Finsbury Avenue, London EC2M 2PP, United Kingdom and

UBS O'Connor LLC, c/o National Corporate Research Ltd, 9 East Loockerman St, Dover DE 19901, USA and

UBS Americas Inc., 2711 Centerville Road Suite 400, Wilmington 19808, Delaware, USA (indirectly through UBS Global Asset Management (Americas) Inc., The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, Delaware, USA) and (indirectly through UBS Securities LLC, 2711 Centerville Road, Wilmington DE 19808, Delaware, USA) and (indirectly through UBS AM Holdings (USA) Inc., c/o The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, Delaware, USA, indirect through UBS Global Asset Management (Canada) Co., 600 de Maisonneuve Boulevard West, Suite 2710, Montreal H3A 3J2, Quebec, Canada) and (indirectly through DSI International Management Inc., Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington 19808, New Castle / DE, USA) and (indirectly through UBS Financial Services Inc., Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington 19808, Delaware, USA) and

UBS Beteiligungs-GmbH & Co KG, Stephanstrasse 14 - 16, 60313 Frankfurt am Main, Germany (indirectly through UBS Global Asset Management (Deutschland) GmbH, Stephanstrasse 14 - 16, 60313 Frankfurt am Main, Germany) and

UBS International Holdings BV, Herengracht 600, 1017 CJ Amsterdam, Netherlands (indirectly through UBS Holding (France) SA, 65 Rue de Courcelles, 75008 Paris, France, indirectly through UBS Global Asset Management (France) SA, 69 Boulevard Haussmann, 75008 Paris, France) and (indirectly through UBS Holding (France) SA, 65 Rue de Courcelles, 75008 Paris, France, indirectly through Caisse Centrale de Réescompte, 44 Rue Washington, 75008 Paris, France) and

UBS (Luxembourg) S.A., 33a Avenue J.F. Kennedy, 1855 Luxembourg, Luxembourg (directly and indirectly through UBS Belgium SA/NV, Avenue de Tervueren 300, Woluwe-Saint-Pierre, 1150 Bruxelles, Belgium) and

UBS (Bahamas) Ltd., UBS House, East Bay Street, Nassau, Bahamas and

UBS Global Asset Management (Hong Kong) Ltd, 46-52 Floors Two International Finance Centre, 8 Finance Street, Central, Hong Kong and

UBS Global Asset Management (Australia) Ltd, Leven 7, Chifley Tower, 2 Chifley Square, Sydney NSW 2000, Australia.

The notification obligation was triggered by Letter Agreements dated 9 December 2007, concluded between UBS AG on the one hand and GIC and another investor on the other hand regarding the purchase by GIC and the other investor of Mandatory Convertible Notes in the amount of CHF 13 billion. In its recommendation dated 30 January 2008 the Disclosure Office of the SWX Swiss Exchange granted an adjournment of the notification.

UBS Consumption Indicator still at a high level

2008-02-26T10:00:00.000+01:00

The UBS Consumption Indicator improved slightly in January, holding steady at a high level of 2.19, noticeably above its long-term average. The indicator continues to point to robust growth in Swiss private consumption.

Extraordinary General Meeting of UBS on 27 February 2008 - doors open already at 08:30 a.m.

2008-02-22T15:30:00.000+01:00

UBS is expecting a large number of shareholders at its Extraordinary General Meeting on 27 February 2008. To ensure a smooth entrance in to the St. Jakobshalle, UBS will be opening the doors already at 08:30 a.m., half an hour earlier than indicated in the invitation. The meeting will begin as originally planned at 10:00 a.m.

As parking is limited at the St. Jakobshalle, UBS highly recommends the use of public transportation.

The Extraordinary General Meeting will be held in the St. Jakobshalle in Basel. More information is availabe in the internet under www.ubs.com/egm.

UBS SME barometer 1st quarter 2008 - SME growth slows down a gear

2008-02-21T09:00:00.000+01:00

The UBS SME barometer indicates a positive final quarter of 2007. Growth of small and medium-sized enterprises (SMEs) in Switzerland has consolidated at a high level. On balance, half of all companies continue to see an improvement in the business climate. Expectations for the current quarter remain positive, though the overall economic climate for SMEs appears to be cooling off slightly. In general, SMEs seem to be lagging slightly behind their bigger competitors.

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.

Disclosure of shareholdings

2008-02-18T07:00:00.000+01:00

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

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

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

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

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

Disclosure of shareholdings

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

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

As of 25 January 2008 Credit Suisse Group held acquisition positions amounting to 3.235% of the voting rights of UBS registered shares. These comprised 19,269,232 (0.930%) UBS registered shares with voting rights and 25,137,001 (1.213%) acquisition rights and 22,639,259 (1.092%) written disposal rights on UBS registered shares with voting rights.

At the same time Credit Suisse Group held disposal positions amounting to 3.625% (75,120,847) of the voting rights of UBS registered shares. These comprised 27,443,367 (1.324%) disposal rights and a further 47,677,480 (2.301%) written acquisition rights of UBS registered shares with voting rights.

UBS outlook update 1st quarter 2008

2008-01-31T09:00:00.000+01:00

Economy has passed its peak - prices on the rise Swiss industry once again had little reason to complain in the fourth quarter of 2007, and the participants in UBS's latest survey appear confident for the current quarter as well.

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 Consumption Indicator stable at high level

2008-01-29T10:00:00.000+01:00

The UBS Consumption Indicator remained stable in December. At 2.20, it was again well above the long-term average and thus continues to signal robust growth in Swiss private consumption.

Disclosure of shareholdings

2008-01-24T07:00:00.000+01:00

UBS outlook 1st quarter 2008

2008-01-16T09:00:00.000+01:00

Swiss business sectors in very good shape2007 was another very good year for nearly all sectors of the Swiss economy. Sales and earnings were both up. While the outlook for 2008 is more restrained, it remains positive. Sales are expected to be strongest in the watchmaking, pharmaceuticals and IT sectors. These are the results of a broad-based survey carried out by UBS of around 4,100 companies in 27 main sectors and 95 sub-sectors.

Disclosure of shareholdings as of 27 December 2007 (2)

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

Based on the revised regulations of the federal law on stock markets and stock trading (BEHG) effective 1 December 2007 UBS AG, Bahnhofstrasse 45, 8098 Zurich, received the following information from Credit Suisse Group, Paradeplatz 8, 8070 Zurich for publication.

As of 1 December 2007 Credit Suisse Group held a stake of 3.08% of acquisition positions (proportion of voting rights) of UBS registered shares. These comprised 10,866,275 (0.52%) UBS registered shares with voting rights and 24,660,726 (1.19%) acquisition rights and 28,320,730 (1.37%) written disposal rights on UBS registered shares with voting rights.

At the same time there were 3.77% (78'082'316) disposal positions (proportion of voting rights) of UBS registered shares. These comprised 37'284'795 (1.80%) disposal rights and a further 40,797,521 (1.97%) written acquisition rights of UBS registered shares with voting rights.

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

Credit Suisse Group indirectly through its subsidiary Clariden Leu Holding AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland (indirectly through Clariden Leu AG, Bahnhofstrasse 32, 8001 Zurich, Switzerland) and Credit Suisse, Paradeplatz 6, Postfach, 8070 Zurich, Switzerland, directly and indirectly through its subsidiary Credit Suisse Holdings (USA) Inc. Eleven Madison Avenue, New York, N.Y. 10010, New York, USA (indirectly through Credit Suisse Securities (USA) LLC, Eleven Madison Avenue, New York, NY 10010, New York, USA) and Credit Suisse International, One Cabot Square, Canary Wharf, London, E14 4QJ, England, and Credit Suiss Life (Bermuda) Ltd., Argyle House, 41 A, Cedar Avenue, Hamilton HM 12, Bermuda, and Credit Suisse Life & Pensions AG, Mühleholz 3, FL-9480 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), and CSPB Non-Traditional Investments Ltd., The Bahamas Financial Centre, 3rd Floor, P.O. Box N-3023, Shirley & Charlotte Streets, Nassau, Bahamas.

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX. With advance notice, details about the acquisitions and the disposal positions can be viewed without cost during normal branch opening hours at the head office of UBS, Bahnhofstrasse 45, 8098 Zurich (UBS Investor Relations, +41 44 234 41 00).

Disclosure of shareholdings as of 27 December 2007 (1)

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

Based on the revised regulations of the federal law on stock markets and stock trading (BEHG) effective 1 December 2007 UBS AG, Bahnhofstrasse 45, 8098 Zurich, makes the following announcement.

As of 1 December 2007 UBS held a stake of 7.71% of acquisition positions (proportion of voting rights) of UBS registered shares. These comprised 158'793'457 (7.66%) UBS registered shares with voting rights and 537'303 (0.03%) acquisition rights and 434'000 (0.02%) written disposal rights with voting rights to UBS registered shares.

At the same time there were 10.34% (214'275'026) disposal positions (proportion of voting rights) of UBS registered shares. These comprised 6'535'875 (0.32%) disposal rights with voting rights and 14'778'116 (0.71%) written acquisition rights for UBS registered shares and 192'961'035 (9.31%) employee options with voting rights for UBS registered shares. 150,145,816 (7.25 %) conditional capital shares are available to service the employee options.

UBS directly and indirectly holds the following acquisition and disposal positions through the following companies:

UBS Global Asset Management Holding (No. 2) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom (indirectly through UBS Global Asset Management Holding Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom, indirectly through UBS Global Asset Management (UK) Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom) and (indirectly through UBS Global Asset Management Holding Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom, indirectly through UBS Global Asset Management Life Ltd, 21 Lombard Street, London EC3V 9AH, United Kingdom) and

UBS O'Connor LLC, c/o National Corporate Research Ltd, 9 East Loockerman St, Dover DE 19901, USA and

UBS Americas Inc., 2711 Centerville Road Suite 400, Wilmington 19808, Delaware, USA (indirectly through UBS Global Asset Management (Americas) Inc., The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, Delaware, USA) and (indirectly through UBS Securities LLC, 2711 Centerville Road, Wilmington DE 19808, Delaware, USA) and (indirectly through UBS AM Holdings (USA) Inc., c/o The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street, Wilmington DE 19801, Delaware, USA, indirect through UBS Global Asset Management (Canada) Co., 600 de Maisonneuve Boulevard West, Suite 2710, Montreal H3A 3J2, Quebec, Canada) and (indirectly through DSI International Management Inc., Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington 19808, New Castle / DE, USA) and (indirectly through UBS Financial Services Inc., Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington 19808, Delaware, USA) and

UBS Beteiligungs-GmbH & Co KG, Stephanstrasse 14 - 16, 60313 Frankfurt am Main, Germany (indirectly through UBS Global Asset Management (Deutschland) GmbH, Stephanstrasse 14 - 16, 60313 Frankfurt am Main, Germany) and

UBS International Holdings BV, Herengracht 600, 1017 CJ Amsterdam, Netherlands (indirectly through UBS Holding (France) SA, 65 Rue de Courcelles, 75008 Paris, France, indirectly through UBS Global Asset Management (France) SA, 69 Boulevard Haussmann, 75008 Paris, France) and

UBS (Luxembourg) S.A., 33a Avenue J.F. Kennedy, 1855 Luxembourg, Luxembourg (directly and indirectly through UBS Belgium SA/NV, Avenue de Tervueren 300, Woluwe-Saint-Pierre, 1150 Bruxelles, Belgium) and

UBS (Bahamas) Ltd., UBS House, East Bay Street, Nassau, Bahamas and

UBS Global Asset Management (Hong Kong) Ltd, 46-52 Floors Two International Finance Centre, 8 Finance Street, Central, Hong Kong.

This disclosure is being made pursuant to the simplification of the reporting requirements through the Disclosure Office of the SWX. With advance notice, details about the acquisitions and the disposal positions can be viewed at no cost during normal branch opening hours at the head office of UBS, Bahnhofstrasse 45, 8098 Zurich (UBS Investor Relations, +41 44 234 41 00).

UBS announces new direction for its support of orchestral music education

2007-12-21T08:00:00.000+01:00

After nine very successful years working together to create and build the UBS Verbier Festival Orchestra, the Verbier Festival and UBS will in future develop their plans in the field of orchestral music in separate directions. 2008 will therefore be the last season in which the UBS Verbier Festival Orchestra will go on international tour.

UBS and Lucerne Festival intend to develop for the year 2009 new projects in the area of orchestral music education.

Patrick Siméons, Co-head of Cultural Sponsorship of UBS commented, "We have enormous respect for what Martin Engstroem and his team have built up in Verbier, and the success of the UBS Verbier Festival Orchestra would have been impossible without him. We are very proud of what the UBS Verbier Festival Orchestra has achieved, and the number of young musicians it has launched into impressive careers. We are totally committed to harnessing the energy of this unique project in new and exciting ways and intend to develop together with Lucerne Festival a new education project.

550 musicians from 30 nationalities have played with the UBS Verbier Festival Orchestra since its launch in 2000. The Orchestra is run by the Fondation de L'Orchestre de Verbier and the Fondation is very proud that the orchestra's excellence in orchestral training and performance has been celebrated worldwide . The orchestra has performed with the world's greatest conductors and soloists to great acclaim for audiences around the world, and its members have gone on to careers in the world's top orchestras including the Metropolitan Opera Orchestra, The Russian National Orchestra, The Tonhalle Orchestra of Zurich. The Vienna Philharmonic Orchestra and The New York Philharmonic.

UBS intends to remain a close partner and sponsor of the Verbier Festival, as it has been since the inception of the Festival in 1994.

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%.

Financial flexibility for property owners with the UBS Mortgage Overdraft Facility

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

With its UBS Mortgage Overdraft Facility, UBS gives its mortgage clients a new option for financing renovations flexibly and without all the red tape.

UBS Consumption Indicator up sharply in October

2007-11-27T10:00:00.000+01:00

The pickup in the UBS Consumption Indicator in September accelerated further in October. The October level of 2.23 is close to the record levels reached in summer and was again well above its long-term average. It thus continues to signal robust growth in Swiss private consumption, which is even likely to accelerate towards year-end.

Salary increases at UBS

2007-11-20T10:00:00.000+01:00

As of 1 March 2008, UBS will increase the total payroll for its employees working in Switzerland by 2.5%.

UBS simplifies its management structure within Switzerland

2007-11-07T07:10:00.000+01:00

UBS merges its Wealth Management Switzerland and its Business Banking business areas into the new Wealth Management and Business Banking Switzerland business area.

UBS Consumption Indicator picks up in September

2007-10-30T10:00:00.000+01:00

After declining significantly in August, the UBS Consumption Indicator moved slightly higher again in September. Although the current index value of 1.99 is not yet challenging the record levels reached in the summer, it is still well above the long-term average. The indicator therefore continues to signal healthy growth in consumer spending in Switzerland.

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.

2008 UBS salary survey: 2008 wage round - real 1.4% increase expected

2007-10-26T00:00:00.000+02:00

According to the latest UBS wage survey, nominal wages are to increase by 2.4% in 2008 following this year's wage negotiations. As UBS anticipates an inflation of 1% for 2008, there will be a 1.4% real increase in base salaries. According to the firms surveyed, nominal wages rose by 2% in 2007. UBS estimates inflation to average 0.7% in the current year, which translates into a 1.3% rise in real wages for employees this year. These are the main results of the 19th UBS salary survey, which is carried out annually among enterprises in 19 sectors within Switzerland.

UBS raises interest rates

2007-10-25T11:00:00.000+02:00

UBS is increasing interest rates for its retirement savings accounts UBS Fisca account (pillar 3a) and UBS unrestricted retirement account 3b as well as for the UBS vested benefits account (pillar 2). The changes will come into effect on November 1, 2007.

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 outlook, 4th quarter 2007 - Swiss industry at the limits of its capacity

2007-10-09T08:00:00.000+02:00

Activity in the Swiss industrial sector is still running at full speed. According to the latest UBS survey in September, capacity utilization has reached a peak. The majority of companies remain confident for the current quarter.

UBS to offer new Pillar 3b retirement accounts

2007-10-08T10:00:00.000+02:00

UBS is offering its clients new products with preferential conditions in the form of the unrestricted retirement account 3b and unrestricted retirement custody account 3b. The unrestricted retirement account 3b and the unrestricted retirement custody account 3b allow clients to save over the long-term for individual needs, such as financing their own home and pension planning, or to invest in selected funds.

UBS SME barometer 4th quarter 2007 - Still full steam ahead for SMEs

2007-10-04T10:00:00.000+02:00

Some 500 companies were again surveyed about their business performance in September for the latest UBS SME barometer. The findings of the survey are clear: Swiss SMEs were in top form once again in the third quarter, the business climate was excellent and expectations were in most cases surpassed. The outlook is still positive for the current quarter, but companies expect growth to slow slightly.

UBS Consumption Indicator falls in August

2007-09-25T10:00:00.000+02:00

In August the UBS Consumption Indicator declined to 1.93. While falling short of the previous month's level, this is still well above its long-term average. At this level, the indicator is signalling continued healthy growth for consumer spending in Switzerland.

UBS launches a new exchange-traded fund on the Swiss Leader Index® : UBS-ETF SLI Swiss Leader Index®

2007-09-14T10:00:00.000+02:00

UBS has expanded its range of UBS Exchange Traded Funds (UBS ETFs) with the launch of UBS-ETF SLI Swiss Leader Index® (UBS-ETF SLI®, sec. no. 3 291 273). Units of UBS-ETF SLI® are now available for trading on the Swiss Exchange (SWX) during normal market hours. The investment fund and trading currency is CHF.

In July 2007 the SWX Swiss Exchange introduced a new equity index - the SLI Swiss Leader Index® (SLI®). This new index is comprised of the 30 most liquid and largest stocks in the Swiss stock market. The four stocks with the largest weighting are capped at a maximum 9% of the index, while the cap for all other stocks in the SLI® is 4.5%. The cap offers investors a better stock and sector diversification. The index structure fulfils regulatory requirements in Switzerland, the EU and the United States, which means it will be possible to attract investors in other markets.

An investment in the new UBS-ETF allows investors to participate in the performance of the 30 largest stocks of the Swiss equity market contained in the SLI Swiss Leader Index®.

With the launch of the UBS-ETF SLI® UBS now has ten ETFs listed on the SWX Swiss Exchange. Since 2001 investors have placed more than CHF 3.3 billion in UBS-ETFs quoted internationally on major stock exchanges (as at 31 August 2007).

UBS Consumption Indicator still at high level

2007-08-28T21:00:00.000+02:00

The UBS Consumption Indicator registered a slight month-on-month fall in July. At 2.26 points, however, it did not slip far from the prior months' high levels and remains well above its long-term average. At this level, the indicator signals continued healthy growth for consumer spending in Switzerland.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2007-08-23T16:00:00.000+02:00

As of Friday, 24 August 2007 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS launches a fund with 130/30 strategy: UBS Key Selection US Equities 130/30

2007-08-23T10:00:00.000+02:00

Private investors gain access to novel investment concept

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 Consumption Indicator rebounds in June

2007-07-31T10:00:00.000+02:00

The UBS Consumption Indicator recovered briskly in June from the downturn in the previous month. It now stands close to April's record level and, at 2.31, is well ahead of its long-term average. At this level, the indicator is signalling continued healthy growth for consumer spending in Switzerland.

UBS outlook, 3rd quarter 2007 - Swiss industry powering ahead

2007-07-10T08:00:00.000+02:00

The economic outlook for Swiss industry remains positive. The latest UBS survey, conducted in June, shows growth prospects for this quarter intact thanks to full order books and a strong intake of new orders.

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.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2007-06-29T10:00:00.000+02:00

As of Monday, 2 July 2007 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS SME barometer 3rd quarter 2007 - SME business cycle takes off

2007-06-28T09:00:00.000+02:00

Swiss SMEs are continuing their robust expansion. This can be seen from the latest UBS SME barometer, which surveyed around 500 businesses in June. The indicators point to a slight acceleration in growth in the second quarter. Bulging order books and high levels of incoming orders point to intact growth prospects for SMEs in the third quarter.

UBS Consumption Indicator dips slightly in May

2007-06-26T10:00:00.000+02:00

The UBS Consumption Indicator was unable to repeat the previous month's record high in May, edging down slightly for the first time in six months. Nevertheless, with a reading of 2.09, the indicator sill stands well above its long-term average, thus signalling persistently solid growth in Swiss private consumption.

UBS expects strong growth for the Swiss economy

2007-06-20T00:00:00.000+02:00

The Swiss economy is currently in excellent shape. Leading indicators for the coming quarters point to sustained strong momentum. UBS is therefore raising the growth forecast for 2007 to 2.6% and for 2008 to 2.3%.

UBS raises interest rates

2007-06-14T12:00:00.000+02:00

UBS is increasing interest rates by up to 0,375% for its Swiss franc and euro-denominated retirement provision and savings accounts.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2007-06-07T10:00:00.000+02:00

As of Friday, 8 June 2007 the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator rises again

2007-05-29T08:45:00.000+02:00

The UBS Consumption Indicator continued its upward trend in April. At 2.35 points, it reached its highest level since July 2001, indicating that consumer spending continues to grow at a solid pace in Switzerland. In fact, consumption may even have accelerated since the beginning of the year.

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 Consumption Indicator surges to highest level in years

2007-04-24T10:00:00.000+02:00

The UBS Consumption Indicator continued its upward trend in March. At 2.13 points, it reached its highest level since July 2001, indicating that consumer spending continues to grow at a solid pace in Switzerland. In fact, consumption may even have accelerated in the first quarter of 2007.

UBS SME barometer 2nd quarter 2007 - Economy loses some steam in SME segment

2007-04-19T09:00:00.000+02:00

Swiss SMEs continue to assess economic developments in a very positive light. This is evidenced by the latest UBS SME barometer, which surveyed 500 companies in March. However, the results point to a slight growth slowdown in the first quarter of 2007. In addition, the driving forces of the economy will increasingly shift toward domestic-oriented businesses in the services sector in the second quarter.

UBS outlook, 2nd quarter 2007 - Industrial activity shifts into lower gear

2007-04-12T08:00:00.000+02:00

Swiss industry is still on the up. The results of the latest UBS survey in March, however, point to a modest slowdown in growth.

UBS Consumption Indicator pushes higher

2007-03-27T10:00:00.000+02:00

The UBS Consumption Indicator rose again in February, indicating that consumer spending is continuing to grow at a solid pace in Switzerland. In fact, consumption may even tick modestly higher in the first quarter of 2007.

UBS Consumption Indicator rises again

2007-03-27T10:00:00.000+02:00

New football-themed UBS MasterCard for UEFA EURO 2008™

2007-02-27T11:30:00.000+01:00

Beginning 1 March, UBS will be offering the MasterCard UEFA EURO 2008™. A package of fan merchandise will be issued with every card, which has the same terms and conditions as a UBS MasterCard Standard. UBS is a National Supporter of UEFA EURO 2008™ and the title sponsor of the "UBS ARENA" public viewing areas in Swiss cities.

UBS Consumption Indicator points to brisk private consumption

2007-02-27T10:00:00.000+01:00

The UBS Consumption Indicator climbed to 1.95 in January, its highest level since June 2006. The Swiss economy should thus continue to garner support from robust private consumption.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2007-02-22T17:00:00.000+01:00

As of Friday, 23 February 2007, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS SME barometer 1st quarter 2007 - Good times for SMEs

2007-02-19T10:00:00.000+01:00

Swiss SMEs continue to regard the general economic trend as very positive. This can be seen from the latest UBS SME barometer, which surveyed around 500 businesses in January. Despite the strong economic data, however, growth has probably peaked. Many businesses are still looking to hire new staff. Most of the qualified staff hired in 2006 came from abroad.

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.

UBS outlook update 1st quarter 2007 - Swiss industrial activity has passed its peak

2007-02-06T10:00:00.000+01:00

Strong momentum from exports helped Swiss industry continue to expand in the fourth quarter of 2006, but companies expect growth to slow in the first quarter of 2007. These are the results of the latest UBS quarterly survey, which polled some 330 Swiss industrial companies in January.

UBS outlook 1st quarter 2007 - Swiss business sectors in very good shape

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

For nearly all sectors of the Swiss economy, 2006 was an excellent year. While the outlook for 2007 is more restrained, it nevertheless remains positive. The financial sector, electrical engineering, chemicals and watchmaking expect the strongest momentum, as evidenced by the results of a broad-based survey by UBS of more than 4200 companies in 27 main sectors and 95 sub-sectors.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2006-12-27T17:00:00.000+01:00

As of Thursday, 28 December 2006, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator remains at high level

2006-12-27T10:00:00.000+01:00

The UBS Consumption Indicator trod water at a high level in November, matching the 1.89 recorded in October, and so continues to point towards strong private consumption.

UBS Consumption Indicator rises again

2006-11-28T10:00:00.000+01:00

The UBS Consumption Indicator continued its upward trend in October, rising 0.13 points on September's figure to 1.96 and signalling a sustained robust development in private consumption.

UBS Consumption Indicator rises again

2006-11-28T07:45:00.000+01:00

The UBS Consumption Indicator continued its upward trend in October, rising 0.13 points on September's figure to 1.96 and signalling a sustained robust development in private consumption.

UBS launches new Basic credit card

2006-11-06T10:00:00.000+01:00

Starting today, UBS will be offering the new UBS Basic Credit Card. This new card is designed to complement UBS's current credit card offering and broaden its product range for private clients.

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 launches a new share class of UBS-ETF DJ Japan Titans 100

2006-10-30T10:00:00.000+01:00

Institutional share class added to existing share class for private investors

UBS wage survey: 2007 wage increases highest in five years

2006-10-27T11:30:00.000+02:00

Average growth of 2.0% in basic wages expected

Slight increase in UBS Consumption Indicator in September

2006-10-26T09:00:00.000+02:00

The UBS Consumption Indicator rose again in September. At 1.88, it indicates a continued solid trend in Swiss private consumption.

Salary increases at UBS

2006-10-25T08:00:00.000+02:00

As of 1 March 2007, UBS will increase the total payroll for its employees and middle management working in Switzerland by 2.5%.

UBS and SGV launch SME barometer

2006-10-24T08:30:00.000+02:00

At the request of the "Schweizerischer Gewerbeverband" (Swiss association of small and medium-sized enterprises), UBS has for the first time developed an SME barometer. A survey of around 500 Swiss SMEs shows that growth rates have peaked, as is the case in the economy as a whole. Although Q3 business activity improved again on the respectable showing in the previous quarter, the SMEs surveyed said they expect the pace to slacken slightly in the final quarter of 2006.

UBS forecasts slower growth for Switzerland in 2007

2006-10-20T09:00:00.000+02:00

The Swiss economy is poised for slower growth in 2007. UBS expects the rate to ease to 1.5% from a strong 3% this year. However, the prospects for low inflation remain good.

Swiss industrial activity peaks

2006-10-10T09:00:00.000+02:00

Industrial activity in Switzerland peaked in the third quarter. The latest UBS survey shows that Swiss companies expect growth to slow slightly in the final three months of the year but remain at a high level.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2006-09-29T00:00:00.000+02:00

As of Friday, 29 September 2006, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator down slightly in August

2006-09-26T10:00:00.000+02:00

The UBS Consumption Indicator declined again in August month-over-month, but is still at a high level overall. Positive developments on the employment front confirm the view of UBS economists that consumer spending will continue to support the economy.

UBS Consumption Indicator inches lower in July

2006-08-29T08:07:00.000+02:00

The UBS Consumption Indicator moved lower in July compared with the prior month, but it is still at a high level overall. The current indicator reading confirms the view of UBS economists that consumer spending will continue to support the current economic expansion in Switzerland.

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 Consumption Indicator surges to highest level in years

2006-07-25T10:00:00.000+02:00

The UBS Consumption Indicator continued its upward trend in June. At 2.11, it is now at its highest level since July 2001, suggesting that robust growth in Swiss private consumption is set to continue, and may even pick up slightly.

Swiss industrial activity in full swing

2006-07-05T10:15:00.000+02:00

Activity in the Swiss industrial sector is continuing to run at full speed. According to the latest UBS survey, business accelerated again in the second quarter and the optimistic mood remains intact for the months ahead.

UBS Consumption Indicator reaches new high

2006-06-27T10:00:00.000+02:00

The UBS Consumption Indicator climbed to 1.86 in May, reaching its highest level since April 2002. This signals that Swiss consumer spending is continuing to grow robustly.

UBS raises interest rates

2006-06-19T11:00:00.000+02:00

UBS is raising interest rates on savings accounts, savings accounts for young people and Fisca accounts. The rates for savings accounts in euro and personal accounts in euro are also being increased. The changes will come into effect on 1 July 2006.

UBS is increasing the interest rates it pays on deposits in response to the rise in domestic long and short-term rates. The Swiss economy remains very dynamic.

The following interest rates will apply with effect from 1 July 2006:

UBS forecasts stronger 2006 Swiss GDP growth at 3.0%

2006-06-14T09:00:00.000+02:00

The Swiss economy is currently in an excellent shape. Preliminary indicators for the coming quarters point to continued strong momentum. The UBS economists have therefore raised their already optimistic forecast for 2006 to 3%.

UBS Consumption Indicator weakens slightly

2006-05-23T22:00:00.000+02:00

The latest figure of 1.62 in April for the UBS Consumption Indicator shows that consumption weakened somewhat compared to March, but was still significantly higher than in February. This confirms the view held by UBS economists that private consumption continues to be robust.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2006-05-11T17:00:00.000+02:00

As of Friday, 12 May 2006, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

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

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

UBS Consumption Indicator on the rise

2006-04-25T10:00:00.000+02:00

The UBS Consumption Indicator climbed significantly in March, reaching its highest level since April 2002. This signals continuing healthy growth of consumer spending in Switzerland.

Annual General Meeting of UBS AG

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

Swiss industry in dynamic form

2006-04-12T09:00:00.000+02:00

Industrial activity in Switzerland picked up sharply in the first three months of 2006, and the latest UBS survey shows the pace of business climbing to its highest level for six years. The upturn is set to continue unabated in the second quarter of the year.

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

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

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

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

Demographics: a coming of age

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

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

Changes to the Pension Fund of UBS in Switzerland

2006-03-29T00:00:00.000+02:00

UBS will be making changes to its Pension Fund in Switzerland with effect from 2007. With these moves, UBS will ensure that it continues to provide its employees a competitive pension plan over the long term. The financial viability of the fund will be strengthened without the need for higher contributions from the participants.The extra contributions associated with these changes - around CHF 100 million annually - will be financed by UBS. The Pension Fund of UBS will also make a onetime contribution from reserves of approximately CHF 760 million.

UBS Consumption Indicator slightly weaker

2006-03-28T10:00:00.000+02:00

The monthly UBS Consumption Indicator weakened somewhat in February, yet its current reading suggests that robust growth in real private consumption in Switzerland is set to continue.

UBS optimises its range of company credit cards and enters into extensive collaboration with AirPlus

2006-03-27T10:00:00.000+02:00

UBS and AirPlus are jointly launching a complete solution for business travel management. By pooling services, both partners are able to provide domestic and international corporate clients with an efficient and transparent check on their travel expenses.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2006-03-22T00:00:00.000+01:00

As of Thursday, 23 March 2006, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS expects stronger GDP growth of 2.3% in 2006

2006-03-17T08:00:00.000+01:00

The Swiss economy is enjoying a fast pace of growth thanks to the marked recovery seen since the middle of 2005. In view of the persistently favourable global economic situation, UBS economists are raising their 2006 GDP growth forecast for Switzerland from 2.0% to 2.3%.

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 Consumption Indicator continues upward trend

2006-02-28T10:00:00.000+01:00

The consumption indicator calculated by UBS on a monthly basis rose for the third month running in January, sending out a signal that solid growth in real private consumption in Switzerland is set to continue.

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 outlook update 1st quarter 2006. Swiss industry in top form.

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

The upswing in Swiss industry accelerated strongly in the final quarter of 2005. Growth in most sectors of the economy looks to be continuing for the moment according to the latest UBS quarterly survey conducted in January.

UBS outlook 1st quarter 2006. Swiss business sectors in good shape.

2006-01-27T10:00:00.000+01:00

For the vast majority of sectors in the Swiss economy, 2005 was a good year. Sales and earnings were both up. The outlook for 2006 is judged to be nearly as good, with pharmaceuticals and financials slightly ahead of the others. This results from a broad-based survey carried out by UBS of more than 4,700 companies in 27 main sectors and 97 sub-sectors.

UBS Consumption Indicator still on the rise

2006-01-24T10:00:00.000+01:00

The consumption indicator calculated by UBS on a monthly basis rose slightly for the second time in a row in December, a signal that solid growth in real private consumption is going to continue.

UBS reaches settlement with regulators on trading activity

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

UBS AG announced today that UBS Financial Services Inc. has reached a settlement agreement with the New York Stock Exchange, the State of New Jersey and the State of Connecticut with respect to certain short-term trading activity between 2000 and 2002 by clients of several UBS Financial Advisors. As part of the settlement agreement, UBS has agreed to pay $54 million, of which $18 million will be set aside for potentially affected investors and $16 million for investor education and securities-enforcement initiatives.

UBS research focus -Outlook 2006

2006-01-05T10:00:00.000+01:00

The year ahead will see a further slowdown in US growth. Neither the Asian economies nor Europe, with its depressed levels of consumption, will manage to escape this trend completely. However inflation risks will remain limited in an environment of more stable oil prices, signalling that a new interest rate plateau has been reached. Thus the risks in the financial markets should remain calculable. We expect bonds to offer slightly below-average yields. On the other hand, equity market valuations indicate that an adequate year can be expected for equities on average, with mostly single-digit returns. However, major bouts of market uncertainty and declines during the year cannot be completely ruled out.

UBS Vitainvest - new funds for Pillar 3a

2006-01-05T09:00:00.000+01:00

UBS is now offering its clients the perfect way to save for their retirement with securities investments: Vitainvest public investment funds. These funds combine the tax advantages of investing in Pillar 3a with the flexibility of investment funds.

UBS Consumption Indicator still on the rise

2005-12-27T10:00:00.000+01:00

The consumption indicator calculated by UBS on a monthly basis rose slightly for the third month running in November. Due to the persistently solid economic trend, UBS is raising its growth forecast for Switzerland.

UBS launches charity credit card

2005-12-15T09:00:00.000+01:00

UBS is launching a charity credit card in conjunction with the UBS Optimus Foundation. The new UBS Optimus Foundation Charity Card supports the UBS Optimus Foundation in its educational and healthcare programmes for children and has all the same basic functions as a standard credit card.

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 Consumption Indicator up again slightly in October

2005-11-22T10:00:00.000+01:00

The consumption indicator calculated by UBS on a monthly basis rose slightly for the second time in a row in October, suggesting that the current economic upturn is likely to continue to be underpinned by solid private consumption.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2005-11-22T07:43:00.000+01:00

As of Tuesday, 22 November 2005, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

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 wage survey: 2006 wage round promises satisfactory salary increases

2005-10-31T10:00:00.000+01:00

Average nominal salary increase of 1.6% expected

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2005-10-28T08:00:00.000+02:00

As of Friday, 28 October 2005, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator stabilizes in September

2005-10-25T10:00:00.000+02:00

In September, the monthly consumption indicator calculated by UBS showed a slightly positive trend for the first time in five months. Private consumption should therefore continue to support the economy in the second half of the year.

Corporate bonds

2005-10-24T10:00:00.000+02:00

Today's investors have a number of new options for investing in corporate bonds. Favourable conditions on the capital markets have substantially increased the number of products available from borrowers with lower credit quality over the past two years. Derivative and other alternative investment instruments have further broadened the product range for investors. The increasing complexity of product innovations, however, has made it difficult to choose the optimal investment strategy. Private investors would benefit, therefore, from analyzing the effects of new financial instruments and structural changes.

Salary increases at UBS

2005-10-18T10:00:00.000+02:00

As of 1 March 2006, UBS will increase the total payroll for its employees and middle management working in Switzerland by 2%.

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.

Despite revision, UBS expects Swiss economy to see satisfactory growth

2005-09-22T10:00:00.000+02:00

After pausing for breath over the winter months, the Swiss economy started growing again from the second quarter. Nonetheless, the high oil price and globally flatter economic trend will leave their mark. Therefore, UBS economists are revising their growth forecasts for Switzerland slightly downward.

Senior Management Appointments

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

UBS announces senior management appointments

UBS Consumption Indicator slightly weaker

2005-08-23T10:00:00.000+02:00

The UBS Consumption Indicator, calculated on a monthly basis, was slightly weaker in July, thereby losing some of the gains it had been making since February. Nevertheless, the current level suggests that private consumption in Switzerland is still experiencing stable development.

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

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

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

UBS to report Second Quarter 2005 Results on August 9th

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

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

UBS lowers interest rates

2005-07-29T00:00:00.000+02:00

UBS is lowering interest rates on savings accounts, the UBS Fisca account and UBS vested benefits account as well as the UBS savings account in euro and the UBS personal account in euro. The changes will come into effect on 1 August 2005.

UBS outlook 3rd quarter 2005. Swiss industrial activity picking up.

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

The recent dip in Swiss industrial activity appears to have been temporary. According to the latest UBS survey, economic momentum regained strength in the second quarter and this upswing will remain largely intact from July to September.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

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

As of 1 July 2005, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Consumption Indicator points to solid growth in consumption

2005-06-28T00:00:00.000+02:00

The UBS Consumption Indicator rose marginally in May, consolidating the advance registered since its most recent low in February this year. It is signalling a slight acceleration in consumption growth from the second quarter onwards, and indicates that Swiss domestic demand is solid overall.

Commodities: Reviving the old

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

Investor interest in commodities has increased significantly in recent years driven mainly by increased globalisation and the awareness that Asia remains an economic force that will increase with time. But not only this, investors have reflected on the lower investment returns that have been generated by traditional assets classes since the bursting of the Dot.com bubble and, consequently noted the powerful cyclical and structural forces that benefit commodities. Unlike traditional asset classes like equities or bonds, investors not too familiar with the positive characteristics and properties of commodities tend to focus on the high volatility element of this long-standing asset class.

UBS launches Consumption Indicator for Switzerland

2005-05-18T00:00:00.000+02:00

UBS is launching the UBS Consumption Indicator. This is a leading indicator that foreshadows GDP figures three to four months ahead of release and provides a reliable measure of the private consumption trend in Switzerland. The indicator currently points to an acceleration in consumer spending in the second quarter after a modest rise in the first three months. The UBS Consumption Indicator will be launched in May 05 and published on a monthly basis.

UBS enhances offering for young clients - exclusive co-operation with iTunes

2005-05-10T00:00:00.000+02:00

UBS and iTunes are giving a free song to all Swiss residents

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.

Real estate: the development of a 'new' asset class

2005-04-25T00:00:00.000+02:00

Listed real estate markets put in a brilliant performance in 2003 and 2004 with returns of over 30%, but according to a recent UBS study they are still not overvalued. Returns expected by UBS experts over the next few years are based on long-term trends, however - i.e. 6-8% per year - and are thus considerably lower. The markets thus appear to be settling down. In the increasing similarity between the characteristics of listed real-estate investments and the underlying direct markets and the unstoppable global development of real estate investment trusts (REITs), the experts see two further trends that will make acquiring real estate via the stock exchange preferable to direct ownership as a form of investment in the future.

Annual General Meeting of UBS AG

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

UBS outlook 2nd quarter 2005

2005-04-13T00:00:00.000+02:00

Temporary slowdown in industry Swiss industrial growth in the first three months of 2005 slowed somewhat more sharply than firms had originally forecast. According to the latest UBS survey, however, there is now a good chance of a renewed pickup in the second quarter of the year.

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.

Activity in Swiss industrial sector peaks

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

The cyclical upswing in the Swiss industrial sector has reached its peak. The latest UBS business survey points to a moderate slowdown in growth in the first quarter of 2005.

Cross-sector picture of Swiss economy shows robust health

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

For most sectors of the Swiss economy, 2004 was a far better year than had been expected, with sales and earnings improving markedly. Businesses are also confident about the prospects for this year. The pharmaceuticals industry was the clear sector leader in 2004 and remains so in 2005. These are the results of a broad-based survey by UBS of 4,500 companies in 27 main sectors and 95 sub-sectors of the economy.

UBS: Appointments in Wealth Management & Business Banking

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

UBS wants to further strengthen and expand its key relationships with corporate clients and high net worth private individuals, within its business group Wealth Management and Business Banking. To this end, a succession is to take place in the management of the business areas of Business Banking and IT.

UBS revises its economic forecasts: weaker growth expected in 2005 for Switzerland

2004-11-18T00:00:00.000+01:00

GDP growth likely to be just 1.8% in 2005

The latest European growth figures have confirmed fears of a temporary slowdown in the European growth pace. Although UBS does not expect to see a similar weakening in Switzerland in the third quarter, this will nonetheless have an impact on the Swiss economy over the medium term. UBS is sticking to its previous GDP forecast for this year, but is revising its growth expectations for 2005 slightly down.

This revision in forecasts is primarily centred on foreign trade. UBS expects weaker growth in goods exports in the coming year, given that demand from Europe will not be as good as previously expected, and the weak dollar will also hamper the competitive position of European exporters.

Private consumption is likely to remain robust, although retail sales were slightly weaker in the third quarter. UBS's internal indicators continue to point to a healthy growth trend, and there has also been no further deterioration in unemployment for over a year.

Capital spending on equipment is likely to be affected by flagging exports to Europe, with growth set to be slower - albeit still robust - in 2005. Construction spending has continued its positive trend, mainly due to the favourable interest-rate environment boosting residential construction.

All in all, the more modest foreign trade and capital spending outlook points to slower growth rates next year. Nevertheless, UBS remains optimistic: GDP is likely to expand by 1.9% this year, and then by just 1.8% in 2005. The expected pick-up in European growth in 2005 will help the Swiss economy to post slightly stronger growth in 2006 (2.0%).

Inflation, too, will not rise much above the current level over the next couple of years. UBS expects consumer prices to rise by 0.8% in 2004 and 1.0% in 2005.

Developments on the job market have been more modest than expected, with the unemployment rate remaining doggedly static at 3.9% over the past 12 months. However, there are increasing signs that the turning point has been reached and that a drop is on the cards. Unemployment is likely to ease back to 3.2% in 2005.

Against the backdrop of weak growth, the ECB is unlikely to raise interest rates in the foreseeable future, so the Swiss National Bank (SNB) is also likely to adopt a cautious stance on monetary policy. UBS expects two further moves on interest rates of 25 basis points each in the winter and spring, which would bring the three-month LIBOR to 1.3%. On the bond market, the slowdown in growth - coupled with moderate inflation - will only result in a modest rise in yields.

The SNB's rate hikes have so far been accompanied by an appreciation of the Swiss franc as expected. According to UBS's analysis, this process will continue in 2005, which is likely to pull the exchange rate versus the euro below 1.50 over a 12-month horizon. Over the same period, we expect the USD to depreciate further against the EUR and CHF as the mounting twin deficits in the US increases the currency risk.

Contact:
Dr. Klaus Wellershoff, Chief Economist UBS
Tel. +41 1 234 67 03

Dr. Daniel Kalt, Head of Swiss Research
Tel. +41 1 234 25 60

Thomas Kägi, Macro Research
Tel. +41 1 234 35 54

Thomas Flury, Head of FI / FX Research
Tel. +41 1 234 67 73

UBS expands its range of convertible bond funds

2004-11-12T00:00:00.000+01:00

Global variant now available in addition to European and Asian funds

UBS is now offering a new, global convertible bond fund for subscription, UBS (Lux) Bond Sicav - Convert Global (USD) B (securities no. 1 976 715). The launch period will run until 18 November 2004. The initial subscription price is USD 10 and the payment date is 23 November 2004.

Convertible bonds are attractive financial instruments that combine the benefits of two asset classes: the price potential of equities and the defensive characteristics of bonds. They offer investors the opportunity to benefit from the upside potential of the stock markets while enjoying a certain degree of protection against falling share prices in an uncertain market environment. Investors with a mid- to long-term investment horizon and medium risk tolerance may consider investing in this fund.

This new fund exploits the beneficial risk/return characteristics of the global convertible bond markets. The portfolio is broadly diversified across regions, countries, sectors and various rating classes. At the time of the launch, the majority of investments are in companies from the investment-grade segment (Standard & Poor's ratings of between AAA and BBB-), while securities with lower credit ratings are selectively added. The average rating of all securities held in the portfolio at launch therefore is BBB. In line with its policy of global diversification, the fund invests in various currencies - primarily in USD, EUR and JPY. It does not systematically hedge currency risk, but does so based on market conditions and its assessment of future developments, thus opening up further potential returns via professional currency management.

UBS is expanding its existing convertible bond fund range by adding this new global variant to its European (UBS Convert Europe) and Asian (UBS Convert Asia) products.

UBS launches pension product with insurance cover

2004-11-08T00:00:00.000+01:00

UBS has launched a new addition to its range of pension products. UBS Fiscalife combines tax-privileged retirement savings via pillar 3a with disability and term life insurance.

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.

Individual salary increases at UBS

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

As of 1 March 2005, UBS will increase the total payroll for its employees and middle management staff working in Switzerland by 2.3%.

UBS Outlook 4th Quarter 2004

2004-10-29T00:00:00.000+02:00

Upturn in Swiss industry takes hold. As expected, Swiss industry stepped up a gear in the third quarter. As the latest UBS survey reveals, the strong upswing which was initially driven by foreign demand is increasingly spilling over to the domestic economy.

UBS personnel compensation survey: moderate increases in 2005

2004-10-29T00:00:00.000+02:00

Nominal wage growth of 1.4% expected

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2004-10-15T00:00:00.000+02:00

As of Monday, 18 October 2004, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Outlook 4th Quarter 2004

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

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

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

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

UBS renews its commitment to the UBS Verbier Festival Orchestra

2004-07-20T00:00:00.000+02:00

UBS and the UBS Verbier Festival Orchestra extend their partnership until 2007. The orchestra will continue as «Orchestra in Residence» at the Verbier Festival & Academy as well as touring internationally every year.

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 Outlook 3rd Quarter 2004

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

Growth continues in Swiss industry. The upturn in Swiss industry continued in the second quarter and should gain strength over the coming months. According to the latest UBS survey, the main growth driver was a strong increase in new orders from abroad.

UBS launches new Fund of Hedge Funds called UBS (CH) Global Alpha Strategies (CHF)

2004-06-18T00:00:00.000+02:00

UBS is launching a Fund of Hedge Funds called "UBS (CH) Global Alpha Strategies (CHF)". The new fund's subscription period will start on 21 June 2004 and end on 25 June 2004. To be issued under Swiss jurisdiction, the new fund will require a minimum subscription of CHF 10,000 for the first tranche (corresponds to 10 fund units of CHF 1,000 each).

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

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

As of Wednesday, 9 June 2004, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

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

2004-05-24T00:00:00.000+02:00

UBS's position in its own shares has moved above the SWX Swiss Exchange's statutory limit of 10%. On 19 May 2004, UBS held 10.4% (123 million) of its registered shares, and a potential 0.5% in the form of derivatives.

UBS launches new mortgage product: UBS Libor mortgage

2004-05-11T00:00:00.000+02:00

This new product will round out UBS's mortgage offering as from mid-May 2004. It is especially suitable for anyone looking for flexible financing.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2004-04-27T00:00:00.000+02:00

As of Wednesday, 28 April 2004, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Shift in inflation trend expected

2004-04-26T00:00:00.000+02:00

Continued low short-term interest rates and expansive US fiscal policys have helped get the global economy back on its feet. In the next phase of the economic cycle, long-term rates and inflation expectations will adjust to the new situation, according to the new UBS study entitled "Inflation." Although consumer price indices are not expected to spiral out of control, the markets' current inflation expectations are, if anything, too optimistic. UBS investment specialists are therefore advising investors not take up positions in long-dated bonds. Inflation-indexed bonds offer the best protection against inflation, and for that reason are to be preferred over investments in gold.

Investor Release: Restated figures for 2003 and 2002

2004-04-22T00:00:00.000+02:00

On 22 April, UBS published restated figures for 2003 and 2002 that align our comparative prior periods to the changes we undertook in accounting and presentation on 1 January 2004.

Annual General Meeting of UBS

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

UBS Outlook 2nd quarter 2004

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

Swiss industry shifts up a gear. Swiss industry received a substantial boost from foreign demand in the first quarter, with order books buoyant and a significant increase in sales. Domestic demand was also healthy, and according to the latest UBS business survey, the strong upward trend is set to continue in the second quarter.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2004-03-19T00:00:00.000+01:00

As of Monday, 22 March 2004, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Outlook 1st Quarter 2004

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

UBS Business Cycle Indicator confirms upswing. Pulled along by accelerating momentum in the global economy, Swiss industry reported an improving trend of business in the final quarter of 2003. A further pickup is expected in the current quarter. The UBS Business Cycle Indicator is signalling a move into positive growth territory for the economy as a whole.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2004-01-23T00:00:00.000+01:00

As of Monday, 26 January 2004, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Activity picking up across the economy

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

The last few years have been difficult for business, but companies in most sectors are expecting significantly better sales and earnings this year. Financial services, telecoms, pharmaceuticals and capital goods industries are set to lead the sector advance in 2004, whereas the construction and watchmaking sectors are still suffering from contracting demand and earnings. These are the results of a broad-based UBS survey of 4300 companies in 27 main sectors and 95 sub-sectors of the economy.

UBS and Alinghi continue their successful partnership

2003-11-24T00:00:00.000+01:00

UBS and Alinghi, the world's most successful sailing crew, have renewed their partnership for another 4 years. In 2007, Alinghi will participate in the America's Cup finals, competing to retain this prestigious sailing trophy.

UBS leverages returns on Swiss equities

2003-11-13T00:00:00.000+01:00

... and launches UBS (CH) Equity Fund - UBS 100 advanced

UBS wage survey: minor increases in 2004

2003-10-29T00:00:00.000+01:00

Nominal wage growth of 0.9% expected

"UBS. The Bank for Banks." at Sibos in Singapore

2003-10-13T00:00:00.000+02:00

UBS is presenting "UBS. The Bank for Banks." at the Sibos in Singapore from 20 to 24 October 2003 (Stand No. 4061, level 4).

UBS Outlook 4th Quarter 2003

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

Outlook for industry brightens. The global economic upturn is providing an initial tentative boost to Swiss industry, and the firms surveyed by UBS are also expecting foreign demand to pick up in the current quarter.

Basel under the spell of Tutankhamun

2003-10-07T00:00:00.000+02:00

After an absence of over 20 years the most important funerary treasures from the Valley of the Kings are returning to Europe - to the Basel Museum of Ancient Art and Ludwig Collection

UBS signs up 30th CLS third-party mandate

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

Unipol Banca SpA is the 30th CLS third-party client of UBS. By joining this partnership, Unipol Banca will be able to execute and settle its cross-border foreign exchange transactions through the CLS global settlement system.

Larger Europe - stronger Europe?

2003-09-01T00:00:00.000+02:00

EU enlargement will have a considerable impact on the economic growth of the accession countries, but will make little difference to the existing members. Overall, however, it is unlikely that the enlargement will provide a strong spark to the economy or the financial markets, nor will it destabilize the labour markets or the euro. These are the conclusions of the UBS study entitled "Larger Europe - stronger Europe?", which examines the effects of EU enlargement on the economy and the financial markets.

UBS adds "USD Corporates" to its range of bond funds

2003-08-11T00:00:00.000+02:00

UBS Global Asset Management today launched the bond fund UBS (Lux) Bond Sicav - USD Corporates (securities number 164 05 34). The subscription period runs from 11 to 22 August 2003 and the payment date is 27 August 2003. This new fund will give UBS investment clients easier access to the corporate bond market.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2003-08-06T00:00:00.000+02:00

As of Thursday, 7 August 2003, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Medium-Term Bonds

UBS Expands Continental European Real Estate Business; Hires Senior Lend Lease Team

2003-07-21T00:00:00.000+02:00

UBS today announced that its UBS Global Asset Management business group, one of the world's leading global asset managers, has significantly expanded its Continental European real estate business. This growth provides clients with an increasing range of investment opportunities in this important asset class. UBS Global Asset Management has hired a senior management team previously with Lend Lease Real Estate Investments Europe to serve as key executives in the new venture.

UBS Outlook 3rd Quarter 2003

2003-07-04T00:00:00.000+02:00

Industry in reverse gear. The slowdown in Swiss industry in the second quarter was more pronounced than expected. In the latest UBS survey conducted in June Swiss firms continued to rate the outlook for sales in the third quarter as poor.

UBS lowers euro interest rates

2003-06-30T00:00:00.000+02:00

UBS is to lower its interest rates for personal and savings accounts in euro, as well as for current accounts in euro for business and corporate clients, with effect from 1 July 2003.

The interest rates for accounts in Swiss francs will remain unchanged.

UBS is lowering the interest rates it pays on euro deposits in response to the further sharp fall in long and short-term eurozone rates. The downward interest-rate trend is continuing, reflecting the weakness of the economy, expectations that any recovery in growth will be only gradual, and the limited risk of inflation in Europe.

The following interest rates will apply with effect from 1 July 2003:

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

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

UBS AG and Zurich Financial Services (Zurich) have sold their respective shareholdings of 56.4% and 28.2% in CLS Corporate Language Services AG (CLS), to the company's management team. The management buyout is effective retroactively to 1 January 2003. The shares of the Swiss language services provider are now 100% owned by the management. No details of the transaction price were disclosed.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2003-06-04T00:00:00.000+02:00

As of Thursday, 5 June 2003, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Telekurs to buy VISA acquiring business from UBS Card Center Ltd

2003-05-28T00:00:00.000+02:00

Telekurs Group is to take over the VISA acquiring business from UBS Card Center Ltd (UCC) and in future, the Group's subsidiary Telekurs Multipay will offer agreements for point-of-sale acceptance not only of MasterCard products, but also of VISA cards. This dual-brand strategy, which has been under consideration for some time, aims to meet a growing need among customers and to ensure that Telekurs can remain competitive in the hard-fought credit-card market. UBS will for its part concentrate solely on credit-card issuing, an area in which it introduced its own dual-brand strategy as early as 1999.

Credit Suisse and UBS to sell holding in Swiss Steel

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

Credit Suisse and UBS are to sell their holding of 50.5% of Swiss Steel's share capital to SBGE Stahl Holding. The total sale price will be approximately CHF 10.8 million.

UBS and Credit Suisse Group confirm that they have fulfilled all commitments to Swiss

2003-04-29T00:00:00.000+02:00

UBS and Credit Suisse Group remain significant investors in Swiss. The two firms wish to make clear that they have never cancelled credit lines for Swiss and that they have fully honoured all agreements.

UBS switches remaining real estate funds to DCF method: net asset values and distributions

2003-04-17T00:00:00.000+02:00

As last announced on 18 February, UBS Fund Management (Switzerland) AG, Basel, the fund management company, has decided to apply the modern, dynamic discounted cash flow (DCF) method to value the properties of all UBS real estate funds. This valuation method, which adheres to the principles of investment mathematics, meets today's requirements and corresponds to the Swiss industry standard in the real estate market.

UBS Agrees to Sell Correspondent Services Corporation to Fidelity

2003-04-09T00:00:00.000+02:00

UBS announced today that it has signed a definitive agreement to sell Correspondent Services Corporation ("CSC"), a division of UBS PaineWebber, to Fidelity Investments for an undisclosed price. A member of the New York Stock Exchange, CSC focuses on providing clearance, execution, settlement, administrative and management information services to brokerage clients and others within the financial services industry.

Engine of industry lacks power

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

The Swiss industrial sector is flagging. According to the latest UBS survey, business activity was disappointing in the first quarter of 2003. A trend towards stabilization is now identifiable, but it will be slow to take effect.

UBS launches new Euro Corporates Bond Fund

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

There are few capital markets that have changed as much in recent years as the euro corporate bond market. More and more firms are taking advantage of the simpler access to the single capital market provided by European Monetary Union. This is creating opportunities for companies and investors alike.

UBS to merge three theme funds

2003-03-31T00:00:00.000+02:00

UBS is to merge three theme funds from the same sector, UBS (Lux) Focused Fund - Top Luxury (in EUR, securities no. 1 093 875), UBS (Lux) Focused Fund - Top Leisure (in EUR, securities no. 1 093 874) and UBS (Lux) Equity Fund - Multimedia (in USD, securities no. 1 137 571), on 30 April 2003. The new fund will be called UBS (Lux) Equity Fund - Consumer Cyclical (in USD, securities no. 1 137 571) and will be realigned as of the same date.

UBS lowers interest rates

2003-03-20T00:00:00.000+01:00

UBS is lowering interest rates on savings accounts, savings accounts for young people, personal accounts for adults, senior citizens (60plus), young people (UBS Generation) and students (UBS Campus) and the Fiscainvest retirement savings account. The changes will come into effect on 1 April 2003.

UBS launches synthetic securitization

2003-03-11T00:00:00.000+01:00

UBS is to launch HAT II, another synthetic transaction securitizing part of the risks attached to Swiss small-business loans and turning them into tradable instruments. HAT II offers institutional investors an attractive vehicle for portfolio diversification by investing in Swiss SME credit risks. At the same time, UBS is optimizing the risk/return profile of its domestic credit portfolio.

UBS commences new share buyback program

2003-03-06T00:00:00.000+01:00

On 6 March 2003, UBS will commence a share buyback program leading to the cancellation of shares. The repurchase will take place over a "second trading line" on virt-x.

European Fund Awards 2003: UBS named Best Overall Group

2003-02-28T00:00:00.000+01:00

UBS Global Asset Management is Europe's top fund manager. The UBS business group came away with the highest honour, being named Best Overall Group, at the European Fund Awards 2003 in Luxembourg on Thursday, 27 February. The European Fund Awards are the result of a collaboration between the fund information and rating company Lipper, the independent Luxembourg fund advisor Fund-Market and the newspaper Luxemburger Wort/La Voix du Luxembourg. The jury awarded UBS the prize for Best Overall Group in recognition of its outstanding overall performance as a globally active fund manager over the past three years.

UBS creates an internal fund research competence centre.

2003-02-20T00:00:00.000+01:00

UBS is to merge the fund research unit of its Business Group UBS Wealth Management & Business Banking with that of its subsidiary Fondvest to create a new competence centre within the Business Group.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2003-02-19T00:00:00.000+01:00

As of Thursday, 20 February 2003, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Outlook, 1st Quarter 2003. Modest momentum in industry.

2003-01-31T00:00:00.000+01:00

Swiss industry remains gloomy. While companies forecast stable exports, the latest UBS survey indicates that they are still sceptical about domestic demand.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

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

As of Monday, 13 January 2003, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-12-19T00:00:00.000+01:00

As of Friday, 20 December 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS lowers interest rates

2002-12-18T00:00:00.000+01:00

UBS is lowering its interest rates for savings accounts and youth savings accounts as well as personal accounts for young people (UBS Generation) and students (UBS Campus) by 0.25%. Interest rates for Fiscainvest retirement savings accounts and personal accounts (in CHF) for adults will remain unchanged. Savings accounts and personal accounts in EUR will earn 0.25% less interest.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-11-29T00:00:00.000+01:00

As of Monday, 2 December 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Swiss Personnel Compensation Survey: 2003 wage round brings moderate increases

2002-11-04T00:00:00.000+01:00

Bonus payments down at nearly 40% of companies

UBS to sell Hirslanden

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

With the sale of Hirslanden Holding AG, UBS is divesting a non-core business. The sale is being made to funds managed by BC Partners, who own the largest chain of acute care hospitals in the UK and one of Europe's largest hospital chain. The value of the transaction, including assumed liabilities, is CHF 930m. The profit on sale will be reported in fourth quarter of 2002.

Individual salary increases at UBS

2002-10-31T00:00:00.000+01:00

As of 1 March 2003, UBS will increase the total payroll for its employees and middle management staff working in Switzerland by 0.9%.

UBS Outlook, 4th Quarter 2002: Swiss industrial recovery falters

2002-10-14T00:00:00.000+02:00

The absence of a boost from exports and weak domestic demand brought the stuttering Swiss industrial recovery to a standstill in the summer. Nonetheless, companies polled in the latest UBS survey see some light at the end of the tunnel.

UBS launches new share buyback program

2002-10-09T00:00:00.000+02:00

On 9 October 2002, UBS will commence a share buyback program leading to the cancellation of shares. The new program succeeds the one in force since March 2002, under which UBS has already repurchased shares with CHF 5 billion, the maximum buyback limit established for the program.

UBS's position in own shares above reporting limit of 5%

2002-09-18T00:00:00.000+02:00

UBS's position in its own shares has moved above the SWX Swiss Exchange's statutory limit of 5%. On 13 September 2002, UBS held 5% (62.7 million) of its registered shares, and a potential 1.1% in the form of derivatives.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-09-17T00:00:00.000+02:00

As of Wednesday, 18 September, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

FC Basel and UBS: Happy end to a successful partnership

2002-09-16T00:00:00.000+02:00

UBS hands over its majority stake in FC Basel Marketing AG to a new owner

Swiss economy needs more time to recover

2002-09-13T00:00:00.000+02:00

UBS economists are expecting economic growth in Switzerland to remain extremely modest at 1.3% in 2003. Given the tentative recovery in exports and the subdued outlook for sales and earnings, it will be some time before business investment picks up again. Private consumption - which has buoyed the economy until now - will not collapse, but will certainly lose momentum as the labour market situation continues to deteriorate.

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.

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

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-08-07T00:00:00.000+02:00

As of Thursday, 8 August 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Noriba Bank BSC to open in Bahrain

2002-07-30T00:00:00.000+02:00

Noriba Bank BSC, a financial services institution wholly owned by the UBS Group, will open for business in Bahrain in September 2002. Noriba is a Sharia-compliant wealth management firm for private investors and institutions. The bank, which is licensed by the Kingdom of Bahrain, will be the global platform for Sharia- compliant banking products and services.

Group Head of Human Resources Robert Zeltner to retire, succeeded by Thomas Hammer

2002-07-12T00:00:00.000+02:00

After 20 years with UBS in various senior management positions, Group Head of Human Resources and member of the Group Managing Board Robert Zeltner has decided to retire in 2003. He will be succeeded by Thomas Hammer, currently managing partner of Egon Zehnder International in Switzerland.

Industry sees confidence confirmed

2002-07-04T00:00:00.000+02:00

The sharp improvement in sentiment seen in industry earlier this year has already led to significantly more stable business activity. But according to UBS it will not be until the third quarter that the upward trend really takes hold.

UBS's position in own shares above reporting limit of 5%

2002-06-17T00:00:00.000+02:00

UBS's position in its own shares has moved above the SWX Swiss Exchange's statutory limit of 5%. On 13 June 2001, UBS held 5.1% (64.8 million) of its registered shares, and a potential 1.3% in the form of derivatives.

Merger of UBS (Luxembourg) S.A. and Banque Ferrier Lullin (Luxembourg) S.A.

2002-06-11T00:00:00.000+02:00

The governing bodies of UBS (Luxembourg) S.A. and Banque Ferrier Lullin (Luxembourg) S.A. have announced their intention to merge the two companies. The planned integration of Banque Ferrier Lullin (Luxembourg) S.A.'s operations into UBS (Luxembourg) S.A. will strengthen the latter's position as a major player in the Luxembourg financial centre..

UBS lowers interest rates

2002-05-22T00:00:00.000+02:00

UBS is lowering its interest rates for savings accounts, personal accounts for young people and senior citizens and personal accounts in euros by 0.25% with effect from 1 June 2002. The interest rate for savings accounts in euros will be reduced by 0.5%. Interest rates for Fiscainvest retirement savings accounts and personal accounts for adults will remain unchanged.

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.

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

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-05-06T00:00:00.000+02:00

As of Monday, 6 May 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Ten become four - UBS streamlines its range of real estate funds

2002-04-23T00:00:00.000+02:00

UBS is gradually streamlining its range of real estate funds, and will rename them to take account of this. This will allow UBS to position its products and their defined investment strategies more clearly in the market. The existing ten real estate funds will be progressively merged into four products.

UBS first company to license Morningstar's new indexes family

2002-04-11T00:00:00.000+02:00

UBS Global Asset Management, the asset management business group of UBS AG, today announced that it will be the first company to license a new family of style-based equity indexes of Morningstar, Inc., a leading global investment research firm. UBS will use the indexes to create a series of exchange traded funds (ETFs) in the United States and Europe based on an enhanced version of the proprietary Morningstar® Style BoxTM methodology, followed by sector-specific and broad market indexes.

Swiss industry set for a turnaround

2002-04-10T00:00:00.000+02:00

The Swiss industrial sector saw its cautious expectations again disappointed. Yet although business continued to slump in the first quarter of 2002, the latest UBS survey reveals evidence that a recovery is on the way.

No major changes to UBS forecasts needed

2002-03-15T00:00:00.000+01:00

The growth figures published in recent weeks for the fourth quarter of 2001 show that Switzerland has only narrowly escaped recession. After reviewing their earlier forecasts, UBS economists have decided to leave their estimate for Swiss economic growth in 2002 at the 1% announced in September 2001.

UBS commences new share buyback program

2002-03-06T00:00:00.000+01:00

On 6 March 2002, UBS will commence a share buyback program leading to the cancellation of shares. The repurchase will take place over a "second trading line" on virt-x.

UBS terminates its advisory mandate for the Ilisu hydro-electric project

2002-02-27T00:00:00.000+01:00

UBS announced today that it is to terminate its advisory mandate for the Ilisu project. This decision has already been advised to the lead management of the suppliers' consortium for the construction of the project, which is located in south-east Anatolia (Turkey). The contract of mandate with the supplier company for the structuring and arranging of the financing, together with related consultancy services, will be terminated in compliance with the agreed period of notice.

Changes within UBS Board of Directors

2002-02-22T00:00:00.000+01:00

Peter Böckli to become Vice Chairman. Jens Alder withdraws candidature.

Postfinance and UBS set up collaboration - Yellow loans to be launched in 2003

2002-02-15T00:00:00.000+01:00

Beginning in May 2003, Swiss Post will join forces with UBS AG and add loans to its range of financial services. Closing this gap in the lending business will enable Swiss Post to retain its customers in its profitable core business - payments - and to develop new sources of earnings at the same time. The Yellow Credits for private and business customers will be easy to understand and highly standardized. The product design and pricing structure will follow Postfinance specifications. UBS will handle risk and capital management plus refinancing. A successful partnership between Postfinance and UBS has existed for several years.

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.

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

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2002-02-11T00:00:00.000+01:00

As of Monday, 11 February 2002, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS to sell HYPOSWISS private bank to Cantonal Bank of Saint Gall

2002-02-08T00:00:00.000+01:00

With the sale of HYPOSWISS, UBS is streamlining its private banking activities in Zurich. The pre-tax profit of approximately CHF 165 million generated by the sale will be reported in the income statement for the first quarter of 2002.

Slowdown in Swiss industry

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

The downturn in Swiss industrial activity was sharper than expected in the fourth quarter. According to the latest UBS company survey, the mood remains downbeat as the new year begins. Still, a recovery can be expected to start by mid-year.

UBS Warburg's bid for Enron's North American Electricity and Natural Gas Trading Operations approved by bankruptcy court.

2002-01-18T00:00:00.000+01:00

UBS Warburg announced today that its bid for Enron's North American wholesale electricity and natural gas trading business has been approved by the United States Bankruptcy Court in New York. Completion of the transaction is subject to approval under Hart-Scott-Rodino and by the Federal Energy Regulatory Commission.

Jens Alder nominated for the UBS Board of Directors

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

Zurich, 11 January 2002 - At the Annual General Meeting to be held in Basel on 18 April 2002, the UBS Board of Directors will propose that shareholders elect Jens Alder, CEO of the Swisscom Group, to the board, the bank's highest governing body.

www.ubs.com/media: -- our new website for the media

2001-12-21T00:00:00.000+01:00

UBS Group Media Relations is pleased to announce a new media website at www.ubs.com/media. The site is designed to help you quickly and easily access important information and facts about UBS in English, French and German.
Besides a list of current UBS press releases, the site comprises:

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

2001-12-19T00:00:00.000+01:00

As of Thursday, 20 December 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS Board of Directors announces senior management changes

2001-12-18T00:00:00.000+01:00

Peter Wuffli replaces Luqman Arnold as President of the Group Executive Board. UBS PaineWebber becomes a separate business group. John Costas joins the Group Executive Board as CEO of UBS Warburg.

UBS plans par value reduction of CHF 2.00 per share

2001-12-17T00:00:00.000+01:00

UBS is pleased to announce that its Board of Directors recommends to the Annual General Meeting (AGM) a par value repayment of CHF 2.00 per share. As a result, the par value of UBS ordinary shares will be reduced from CHF 2.80 to CHF 0.80.

Subject to the approval by the AGM on 18 April 2002, UBS will make a cash distribution to its shareholders of CHF 2.00 per share. This distribution will take the place of a dividend for the business year 2001 and represents a tax-efficient payment to UBS shareholders. Adjusted for last July's 3-for-1 share split, the proposed distribution per share for 2001 will be consistent with the previous year when the total distribution to shareholders amounted to CHF 2.03.

In 2003 UBS intends to revert to a distribution to shareholders in form of an annual dividend, which will be paid out shortly after the AGM.
The par value repayment is expected to be made on 10 July 2002 to holders of record on 5 July 2002.

Ernesto Bertarelli to join UBS Board of Directors

2001-11-16T00:00:00.000+01:00

Zurich/Basel, 16 November 2001 - The Board of Directors of UBS will propose to next year's Annual General Meeting in April, the election of Ernesto Bertarelli, Chief Executive of Serono International S.A.

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.

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

Uniform branding with UBS Private Banking Deutschland AG.

2001-11-12T00:00:00.000+01:00

As a further step in implementing the European Wealth Management Initiative, Schröder Münchmeyer Hengst AG, a wholly-owned German subsidiary of UBS, will of today be banking under a new name, UBS Private Banking Deutschland AG. The change of name underscores UBS's long-term commitment to the German private banking market. UBS Private Banking Deutschland AG will be substantially enlarging its team of client advisors in Germany in the years ahead.

Reduction of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds

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

As of Friday, 2 November 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Individual salary increases at UBS

2001-10-26T00:00:00.000+02:00

As of 1 March 2002, UBS will increase the total payroll for its employees and middle management staff working in Switzerland by 1.4%.

UBS launches "The Bank for Banks"

2001-10-17T00:00:00.000+02:00

UBS is pleased to offer its partner institutions "The Bank for Banks" - by providing an efficient, flexible, and modular way of outsourcing non-core elements of their business and operations, across the full range of banking business and product areas.

Resignation of Eric Honegger from the UBS Board of Directors

2001-10-16T00:00:00.000+02:00

The UBS Board of Directors notes the resignation, with immediate effect, of Eric Honegger, who had served as a Director since he was first elected by the Annual General Meeting of 1999.

UBS and Credit Suisse Group intend to maintain Crossair as a public company

2001-10-12T00:00:00.000+02:00

UBS and Credit Suisse Group today submitted an application to the Swiss Takeover Board requesting exemption from the obligation to make a public purchase offer to minority shareholders. The intention is for Crossair AG to remain a public company.

UBS announces purchase of majority stake in Crossair

2001-10-02T00:00:00.000+02:00

UBS and Credit Suisse Group complete the purchase of 70.35% of outstanding Crossair shares for CHF 258.8 million. The funds are now available to SAirLines.

US recession hits Switzerland

2001-09-27T00:00:00.000+02:00

The UBS economists have revised their 2002 economic forecasts for Switzerland sharply downwards. This is because of the international economic situation, particularly as regards the USA. They expect 1.6% growth for 2001 (unchanged) and 1.0% growth for 2002 (previously 2.1%). In particular, Q4 2001 and Q1 2002 should see extremely low growth of 0.9% and 0.4% respectively. The Swiss economy is unlikely to rebound until H1 2002, returning to its trend growth of 1.8% in 2003. Inflation should not be a problem against the background of very weak growth. Inflation forecasts are 1.1% for 2001 and 1.0% for 2002. Given the strong CHF, the Swiss National Bank (SNB) will probably continue its policy of monetary relaxation in the months ahead.

UBS remains profoundly shocked by the attacks in the U.S., very concerned about the whereabouts of a few employees

2001-09-13T00:00:00.000+02:00

UBS remains profoundly shocked by the attacks in the U.S., and by the scale of the personal tragedy. UBS's deepest sympathies lie with those who have loved ones, relatives, friends or colleagues among the victims.

No UBS offices in New York have been directly affected by the attacks although the group is very concerned about the safety and whereabouts of a few of its employees.

At this time, business considerations take second place.

UBS offers innovative multi-manager solutions for pension funds and retirement accounts

2001-09-11T00:00:00.000+02:00

For the first time on the Swiss pensions market, the UBS Foundation for the Investment of Pension Fund Assets (AST) is launching products which not only provide diversified investments but also diversified management and thus investment processes.
The AST is extending its offering to include the following four investment categories: domestic and foreign multi-manager bonds denominated in CHF, Swiss multi-manager equities, global multi-manager bonds in foreign currencies and global multi-manager equities. Each of these four investment categories in turn invests in three institutional investment funds under Swiss law, managed by third-party institutions. The expanded product line allows occupational pension schemes to freely combine investment categories managed by UBS Asset Management and third-party institutions, thereby reducing the risk of fluctuation in investment results.

The managers are selected and continuously assessed, and the entire process monitored, on the basis of objective criteria and institutional best practice. To achieve this, UBS is working in partnership with one of the leading Swiss consultants to institutional investors, PPCmetrics AG. The active managers which have been selected are well-known Swiss and foreign institutions with a high degree of specialization, an excellent reputation and proven potential for above-average investment results.

The new multi-manager concept, currently unique on the Swiss pensions market, will be introduced in stages from the fourth quarter onwards and is primarily aimed at occupational pension scheme providers which are not large enough or do not possess the appropriate organizational structures to pursue their own strategy of manager diversification. This new solution also offers total multi-manager diversification from a single provider to smaller institutional investors, as is normal for the largest institutional investors.

Holders of private UBS pensions (Fiscainvest clients) will also benefit from the new multi-manager concept. Three quarters of Fiscainvest's partial assets will be invested in the new investment instruments. This, together with the portion managed by UBS Asset Management, will ensure that client assets are managed by a range of different managers.

Institutional best practice
The aim of the multi-manager concept is to offer institutional best practice. This means:

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds.

2001-09-04T00:00:00.000+02:00

As of Tuesday, 4 September 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

Alan Shearer signs with the Sports and Entertainment Group of UBS

2001-08-28T00:00:00.000+02:00

UBS announces today that it has the support of former England football captain and Newcastle United star, Alan Shearer, strengthening its commitment to building a globally strong Sports and Entertainment Group. UBS aims to utilise Alan Shearer's experience to help the Sports and Entertainment Group raise UBS' profile amongst other professional sportsmen.

These clients' strongest earning power often falls over a limited period of time. With a detailed understanding of their requirements both in the short-term and the long-term, UBS can build a package of financial solutions that best suit its clients' needs. "We want our clients to make the most of their talent while we work carefully and quietly in the wings to ensure that the income generated by their success is converted into lasting wealth," states Neil Grainger, head of the Sports and Entertainment Group (SEG) in London.

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.

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

UBS updates outlook for private equity business

2001-07-26T00:00:00.000+02:00

UBS announced today that, following its most recent review of portfolio valuations and divestment prospects for the remainder of the year, it is updating the 2001 financial outlook for UBS Capital, its private equity business.

UBS's position in own shares below reporting limit of 5%

2001-07-16T00:00:00.000+02:00

UBS announced today that it has split its shares 3 for 1, bringing its share price to a level more in line with other leading global financial services companies. The move is consistent with UBS's goal to broaden its retail share ownership, particularly in the United States. Based on the closing price of UBS shares on the New York Stock Exchange on Friday, July 13, the adjusted share price would be USD $45.50.

UBS postpones plans to spin-off private equity arm

2001-07-11T00:00:00.000+02:00

UBS announced today that it is postponing its plans to move UBS Capital, its private equity business, to an affiliated status. Challenging short-term conditions for the private equity market make it an inopportune time for the brand-building and fund raising exercises connected with the launch of a new autonomous management company.

UBS Company Survey, June 2001 Swiss industrial sector weaker than expected

2001-07-04T00:00:00.000+02:00

Swiss industry is in a far more sluggish state than many observers had thought. The latest UBS company survey reveals that, in all but one sectors, business in the second quarter was worse than companies forecast three months ago, although a slight improvement is expected for the current quarter.

UBS classic mortgage - UBS extends its mortgage offering

2001-07-03T00:00:00.000+02:00

UBS is launching a new mortgage linked to the yield on the ten-year government bond, with a variable rate of interest and a fixed term of three or five years. The UBS classic mortgage incorporates an upper and a lower interest-rate limit, both of which remain unchanged throughout the term of the mortgage. The new mortgage rounds out UBS's existing product offering, giving clients a choice of mortgages to suit every interest-rate situation.

UBS lowers interest rates

2001-06-27T00:00:00.000+02:00

As from 1 July 2001, UBS will lower its interest rates on savings accounts, personal accounts and UBS Fiscainvest Retirement Savings Accounts by 0.25%.
There will be no change in interest rates for young people's accounts (UBS Savings Account for Young People, UBS Generation/Campus personal accounts), for savings and personal accounts in euros and for current accounts for private clients.

By reducing interest rates on deposits, UBS is responding to easier conditions in the capital and money markets which are causing market interest rates to fall.

UBS prices offering of $500 million in Trust Preferred Securities

2001-06-22T00:00:00.000+02:00

UBS AG announced today the pricing of an offering of $500 million of Trust Preferred Securities. The securities are perpetual and pay a semi-annual coupon of 7.247% until June 26, 2011 and, thereafter, a floating rate coupon of three month Libor plus 230 basis points paid quarterly.

The securities, which were placed predominantly with institutional investors, have a perpetual maturity and are callable at the step-up date and on each quarterly coupon date thereafter.

The securities are rated AA- by Standard & Poors, aa3 by Moody's Investors Service, Inc. and AA+ by Fitch.

UBS Warburg LLC was the sole bookrunner.

All of the Trust Preferred Securities are being offered by UBS Preferred Funding Trust II, a newly-organized vehicle established by UBS AG for purposes of the offering, and represent a new financing by UBS AG.

UBS prices offering of $300 million in Trust Preferred Securities

2001-06-20T00:00:00.000+02:00

Further Strengthening Its Investment and Distribution Capabilities in the Americas

Effects of global economic slowdown will be felt in Switzerland too.

2001-06-13T00:00:00.000+02:00

UBS's economists have revised their Swiss growth forecasts downwards in line with the current global economic outlook. They are now expecting growth of 1.6% in 2001. Activity should pick up again in 2002 in tandem with an improving international economy to reach 2.1% in 2002. UBS sees no threats on the inflation front for the time being. Its inflation forecasts are 1.4% for 2001 and 1.6% for 2002 respectively. Given the deterioration in the real economy and the absence of major inflationary pressures, the SNB is likely to take a relaxed stance on interest rates. UBS forecasts a CHF LIBOR target rate of around 2.75% in the third quarter of 2001.

UBS (France) S.A. expands to Lyons.

2001-06-06T00:00:00.000+02:00

UBS (France) S.A., a wholly-owned subsidiary of UBS AG, has opened a branch in Lyons, expanding its domestic wealth management activities for private clients in the French market. The branch in Lyons currently employs 8 people.

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.

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

UBS sells TicketCorner AG.

2001-05-08T00:00:00.000+02:00

UBS is selling TicketCorner AG to Kudelski SA. TicketCorner AG is a 100 percent owned holding of UBS. The parties involved have agreed not to release the terms of the deal.

UBS responds to misleading CASH statements about its e-services initiative.

2001-05-03T00:00:00.000+02:00

UBS today responded to misleading statements by the Swiss financial journal CASH, including promotional broadcasts carried on Swiss radio.

UBS in co-operation with T-Online.

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

UBS is to offer selected services via the Internet portal www.t-online.de. International private clients will be able to access information and services provided by UBS which are specially tailored to their needs.

Eurogate in its current form not viable for UBS.

2001-04-30T00:00:00.000+02:00

The signing of the sale contract between UBS, Eurogate Zürich AG and the project owner ARGE Eurogate will not take place today as planned. A number of preconditions, including obtaining planning permission, could not be fulfilled within the time-limit stipulated in the conditional contract. The project in its current form would have required construction work on the Eurogate complex at Zurich's main railway station to begin onsite by mid-June 2001.

Industrial firms remain cautiously optimistic.

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

As expected, the first quarter of 2001 saw the pace of economic growth continue to slacken. The slowdown has filtered through to Swiss industry, which expects its rate of expansion to ease in the first half of the year. The UBS survey of business sectors shows, however, that the underlying mood among companies remains upbeat.

Change of interest rate for UBS Time Deposit Accounts and Medium-Term Bonds.

2001-03-23T00:00:00.000+01:00

As of Monday, 26 March 2001, the following interest rates shall apply to UBS Time Deposit Accounts and Medium-Term Bonds.

UBS PaineWebber: a new name.

2001-03-06T00:00:00.000+01:00

UBS PaineWebber: a new name, a continuing commitment.

UBS commences new share buyback program.

2001-03-05T00:00:00.000+01:00

On 5 March 2001, UBS will commence a share buyback program leading to the cancellation of shares. The repurchase will take place over a "second trading line" on the SWX Swiss Exchange.

UBS's position in own shares above reporting limit of 5%.

2001-03-01T00:00:00.000+01:00

UBS's position in its own shares has moved above the statutory stock exchange reporting limit of 5%. On 23 February 2001, UBS held 5.1 % (22.8 million) of its registered shares, and a potential 2.2 % in the form of derivatives. The position includes 18.4 million shares (4.2 % of registered shares) which will be cancelled following the approval of the Annual General Meeting on 26 April 2001. The remaining shares include purchases by UBS Group Treasury for employee share ownership programmes, and a limited position held by UBS Warburg for trading purposes.

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.

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Mitchell Hutchins Aligns With UBS Asset Management.

2001-02-20T00:00:00.000+01:00

Broadens Scope of U.S. Asset Management Business; Unit To Focus on Wholesale Intermediary Channels.

Par value reduction of CHF 1.60 per share planned.

2001-02-14T00:00:00.000+01:00

UBS plans par value reduction of CHF 1.60 per share.

Promotions as of 1 March 2001.

2001-02-08T00:00:00.000+01:00

To the rank of Managing Director:
in Basel: Peter Senn, Markus Steiner, Martin Thommen; in Bern: Roger von Mentlen; in Geneva: Jean-François Beausoleil, Thomas J. Egger, Urs Emmenegger, Philippe Wick; in Lugano: Michele Frigerio, Piero Vanotti; in Opfikon: André Fehr, Ronald Hinterkircher, Beat Koch, Vittorio Schiro, Marcel Strobl, Graham Watts; in Renens: Manuel Leuthold; in Schaffhausen: Kurt Löhle; in Thun: Rolf Spring; in Zurich: Oliver Adler, Heinrich Baer, Felix Baumann, Stefan Bodmer, Rolf Bögli, Urs Bolzern, Mark Branson, Christian Dubler, Stefan Friesenecker, Christian Hafner, Thilo Hasenmeyer, Juerg Herren, Werner E. Hügli, Hans-Peter Loosli, Bruno Marelli, Hans-Ulrich Meister, Urs Monstein, Hannes Oelschlegel, Arpad Pongracz, Stefan Probst, Peter Ritter, Rolf Rötheli, Carl-Emanuel Schillig, Peter Schmid, Rudolf Sigg, Derek Smith, Paresh Sodha, Marcelo Victoria, Kurt Wolf, Rolf Wüest, Bruno A. Wyss.

To the rank of Executive Director:
in Aarau: Bruno Brunner; in Basel: Thomas Amstutz, Kurt Brunnschweiler, Gerald Christe, Adrian Manuel Gasser, Roman Jermann, Siegfried Lenk, Bernhard Lutz, Dieter Meister, Beat Michel, Bernhard Müller, Christoph Oetiker, Andreas Reber, Franz Roth, Jean-Pierre Stadelmann, Werner Steiger, Markus Tanner, Rolf Thommen, Stephan Vögelin; in Bellinzona: Luciano Buzzi; in Bern: Philipp Bregy, René Ramseier; in Brugg: Denis Louis Vaucher; in Carouge: Daniel Nüesch, Christian von Ernst, Raphaël Widmer; in Chur: Thomas, Pixner; in Davos: Pierre-Alain Chapatte; in Geneva: Romolo Armati, Philippe Bochatey, Norma Bottinelli-Pérez, Philippe Broillet, Jean-Maurice Cailler, Pierre Devanthey, Pierre Dozio, Agata Favre, Philippe Glasson, William Leuba, Giovanni Panagia, Basile Samarine, Fabrizio Sartori, Alain Teminian, Jean-André Vazzoler, Robert Wagner, Alain Wicki; in Herisau: Werner K. Stucki; in Kloten: Mark Bruggmann; in Kreuzlingen: Kurt Meier, Erwin Rudolf; in Langenthal: Nicolas Bernard de Grenus, Werner Kurth; in Lausanne: Eric Boissard, Olivier Ruch, Richard Serafini, Pierre Sigrist; in Lugano: Carlo Bernasconi, Giacomo Cavargna, Marco Crotti, Francesco Kestenholz, Luca Pedrotti, Francesco Ramella, Roberto Scotti, Giorgio Vio; in Lucerne: Peter Amlehn, Markus Koch, Markus Kunz, Urs Vock; in Martigny: Jean-Maurice Tornay; in Olten: Thomas Canonica; in Opfikon: Raffaele Agnetti, Christian Bruppacher, Anthony Cresci, Serge Déteindre, Erwin Fedier, Anton Ferber, John Fielding, Walter Furrer, Raymond Tice Gaffield, Giorgio Giacomelli, Angus Gilbert Graham, Andrew Grant, Marc Honegger, Daniel Hug, Hansruedi Jöhr, Beat Kälin, Daniel Kolner, Christoph R. Kreuter, Karin Külling, Thomas Manz, Irene Mark-Eisenring, Anna-Katharina Mohr, Claude Moser, Christoph Niggli, Wilfried Ottel, Achim Peijan, Michael Pfeiffer, Hansruedi Ramsauer, Daniel Rauch, Robert Rausch, William Raynar, Harald Rieder, Peter Rutz, Peter Schmid, Claude Schmidt, Roland Sorg, René Steiner, Dieter Tobler; in Renens: Pierre Kaufmann, Gilbert Pfaeffli, Thomas von Arx; in Schaffhausen: Thomas Hillermann; in Sion: Patrick Fellay, Christian Massy; in St. Gallen: Enzo Autolitano, Patrick Loser, Jürg Schibli; in St. Moritz: Robert Allenspach; in Teufen: Martin Alder; in Zollikon: Peter Polenz; in Zug: Peter Bühler; Markus Wiederkehr; in Zurich: Urs Aeberhardt, Peter Aerni, Thomas Alder, Jürg Allemann, Roger Althaus, Markus Andermatt, Johann Bachmann, Rolf A. Becker, Michael Bernhardt, Beat Birrer, Hansjörg Bless, Eugen Boss, Rudolf Braun, Erwin Bretscher, Urs Bretscher, Roger Büchi, Bernhard Buchs, Urs Christen, Martin Deckert, Jürg Denz, Robert Ey, Bruno Frei, Martin Gehring, Jürgen Gerber, Louise Gigandet, Christian Grütter, Thomas Gsell, Adrian Guldener, Bruno Guldener, Roland Gysi, Kurt Haefeli, Hans-Jörg Haller, Markus Heer, Jules Heitz, Peter Hinder, Arnold Holz, Christoph Huber, Thomas Huber, Stefan Hug, Stefan Hunziker, Hanspeter Hürzeler, Helmut Jonen, Martin Kempf, Reto Knecht, Guido Knobel, Ralph Kotesovec, Daniel Lehmann, Thomas W. Lehmann, Susanne Lerch, Alfons Livers, Rüdiger Lobrinus, Elaine Logue, Jan Lüscher, Waltraud Mayer, Yvonne Morf, Dominique Morisod, Albert Müller, Mehran Nakhjavani, Marcel Nellen, Roland Niederer, Frank Niedermann, Erich Nützi, Matthias Oppikofer, Patrick Oustin, Giovanni Pagani, Andrea Quapp, Gabriele B. Roselius, Roland Rötheli, Markus Rüegsegger, Richard Peter Saxer, Philipp Schaffner, Roland Schmid, Daniel Schnurrenberger, Sandra Schütz, Marco Schwinger, Marc Steffen, Ruedi Steinhauser, Rene Stiefelmeyer, Christoph Stocker, Roger Stutz, Bruno Sutter, Edwin Tinnacher, Kurt-S. Tschudin, Thomas Ulrich, Frans van den Brul, Alex Wachter, Andreas Walker, Rolf Joachim Walther, Markus Widmer, Walter Widmer, Matthias Würsch, Bruno Zellweger, Gilbert Zellweger, Hans Zukschwerdt.

To the rank of Director:
in Aarau: Felix Blindenbacher, Erika Frank, Lukas Stückelberger; in Basel: Christine Aimone, Beat Albisser, Mirjam Beerli, Fritz Beutler, Heinz Bösch, Marc Borer, Dirk Brodbeck, Gerold Brogli, Jacqueline Brunner, Franz Bürgi, Renate Chiudinelli-Schwendeler, Roberto Costa, Hanspeter Dahinden, Reto Del Carlo, Ronald Dijkman, Monika Dunant, Alessandro Fasolin, Nicholas Fliess, Philippe Frossard, Beatrice Gallin Senti, Christian Gast, Robin Gnägi, Jürg Grieder, Tony Guggenbühler, Stephan Hebeisen, Christophe Hefti, Michel Henry, Andreas Hertel, Thomas Hunziker, René Hürlimann, Peter-Andreas Hurni, Karsten Illy, Silvio Ineichen, Alexa Ipen-Providoli, Christoph John, Harald Kühne, Gabriella Kux-Wagner, Urs Latscha, Katja Liese, Jonathan Marano, Robert Mesmer, Markus Meyer, Michael P. Mueller, Beat Müller, Peter Müller, Roger Müller, Martin Murbach, René Muster, Theodor Mutschler, Christoph Omlin, Andrea C. Pellanda, Christine Riderer, Heinrich Schellenberg, Andreas Scherrer, Oliver Schick, Ernst Schmid, Beat Schmocker, Silvio Severino, Matthew Simmons, Gabriela Skeoch, Rainer Studer, Thomas Zollinger; in Bellinzona: Mauro Bazzotti; in Bern: René Bühler, Roland Heiniger, Thomas Küpfer, Christian Moser, Jürg Renfer, Norbert Schacht, Stefan Westermann, Beat Wittwer-Mathys, Toni Zumkehr; in Beromünster: Bruno Suter; in Biel: Rolf Badertscher; in Burgdorf: Martin Kolb; in Carouge: Olivier Barbey, Jean-Yves Favre, David Lampe, Jacques Lusti, René Melly, Andre Millet, Jacques Streiff; in Chêne-Bourg: Stefano Turci; in Chiasso: Claudio Bernaschina, Massimo Grassi, Mauro Meroni; in Chur: Gieri Giger; in Crans: Philippe Poisson; in Dübendorf: Samuel Bachofner; in Frauenfeld: Euplio Lisi; in Fribourg: Jean-Daniel Mueller, Philippe Zillweger; in Geneva: Marianne Albanese, Pierre Bezençon, Bernard Bochatay, Sophie Bonvin, Yves Bourquin, Evelyne Chavaz, Pascal Clément, Christian Courtin, Laurent Cudre-Mauroux, Jean-Pascal Dalliard, Christophe Duboil, Rollin Ferrier, Francisco Garcia, Isidore Gorianz, Philippe Hertig, André Himmelberger, Marianne Knoepfler Kladny, Pius Lang, Stéphane Lièvre, Christian Meury, Stéphane Mundwiler, Alexandre Pieracci, Sana Safavi, Olivier Schott, Nicolas Varady, Anita von Arx, Pascal Vulliet; in Glattbrugg: Daniel Wanner; in Grenchen: Marco von Burg, Kurt Zaugg; in Gümligen: Peter Steffen; in Herisau: Carolina Diethelm-Kuster; in Ittigen: Thomas Grund; in Klosters: Rainer Sulser; in Koppigen: Jürg Sieber; in Küssnacht am Rigi: Andreas Lang; in La-Chaux-de-Fonds: Eric Mueller; in Langenthal: Kurt Bläuenstein; in Langnau i.E.: Daniel Wüthrich; in Lausanne: Patrick Bourloud, Yves Charlet, Michel Danniau, Giulio De Angelis, Roland Gaberthuel, Brigitte Gieseck, Jean Haering, Nicolas Hogg, Joseph Lambiel, Dominique Lenoir, Salvatore Orlando, Claudia Rochat, Jacques Ruffieux, Dominique Savioz, Thierry Sciboz, Alain Steinauer, Raphaël Walpen; in Lichtensteig: Urs Bamert; in Locarno: Sandro Leoni; in Lugano: Marco Bariffi, Andrea Benz, Michele Bertoletti, Francesco Bizzozero, Gianpaolo Bonalumi, Christian Buchwald, Stefania Calvarese, Giuseppe Ceppi, Michel Faoro, Fabio Ferrari, Walter Fornoni, Oliver Frings, Marco Galli, Edward Greco, Ermanno Imerico, Andrea Laffranchini, Sergio Leoni, Fabio Locatelli, Carmelo Malingamba, Nadir Pedrini, Dirk Siefert, Frederic Villa; in Lucerne: Rolf Ammann, Otto Fischer, André Godel, Norbert Lüthold, Christian Rohrer, Gerold Schmidli, Daniel Schranz, Hans Waltisberg; in Lyss: Rene von Arx; in Manno: Roberta Bertoglio Tessaro, Antonio Lurati, Pietro Mazzola, Flavio Mazzoletti, Renato Ranza, Raffaele Sciarini, Riccardo Spirli, Jonathan Stanford, Daniele Van Huffel; in Montreux: Philippe Golay; in Münchenbuchsee: Urs Löffel; in Neuchâtel: Ronald Veya, Jacques Wyss; in Niederbipp: Beat Käser; in Nyon: Bernard Penel; in Olten: Kurt von Arx; in Opfikon: Helene Alge, Marianne Bigler, William-Frederick Boss, Jakob Bosshard, Jürg Bürgin, Mauro Cappiello, Patrick Chalverat, Olivier Cuendet, Stephan Demoulin, Raphael Drescher, Mark Eichenberger, Guido Fiechter, Reto Gadient, Werner Gasser, René Gerber, Fredi Richard Gschwind, Gregor Guggisberg, Rainer Häberle, Daniel Haid, Andreas Höfert, Sandra Holderegger, Roland Iberg, Thomas Jeck, Yves Kissenpfennig, Markus Knoll, Urs Kunz, Gaspare La Sala, Chi-Thanh Le, James Longwell, Christine Luciani, Armin Mäder, Tessa Mangold, Andrea Märk-Sainas, Jean-Pierre Maruenda, Gerhard Meier, Martin Merz, Daniel Metzger, Christel Müller, Daniel Müller, Erwin Müller, Philippe Müller, Reto Näpflin, Thomas Nietlispach, Jürg Padrun, Philipp Paulus, Maja Popp, Paul Rasmussen, Claudius Reidy, Rolf Ringdal, Subhasis Roy, Pascal Säuberli, Sonja Scherer Bommer, Thomas Scheuchzer, Patrick Schneider, Hjalmar Schröder, Balz Schürmann, Daniel Seiler, Adelina Solèr, Kevin Douglas Stringer, Reto Stutz, Daniel R. Süess, Carmen Temperli, Didier Teysseire, Alexander Thalmann, Esther Thoma, Urs Walser, Markus Weber, Richard Winter, André Worni, Johan Züger; in Poschiavo: Adriano Zanolari; in Rapperswil: Urs Knobel, in Regensdorf: Marcel Merkli, in Reinach BL: Hansjörg Pluess, in Renens: Olivier Balmer, Thierry Haas, Damian Locher, Emmanuel Mettraux, Jacky Rudaz, Daniel Tacheron, Olivier Theulaz; in Rorschach: Urs Hutter, Thomas Oesch; in Rüschlikon: Thomas Blank; in Sargans: Martin Broder; in Schaffhausen: Franz Keiser, Lorenz Laich, Ralph Löpfe; in Sierre: René-Pierre Frey; in Solothurn: Walter Bänninger; in St. Gallen: Hristos Alexakis, Martin Allenspach, Marcel Gerig, Paul Hasler, Jürg Plavec, Beat Richner, Guido Saxer, Edgar Steiger, Albert Suter; in St. Moritz: Marco Kleger; in Uster: Alessandro Bonomo; in Wattwil: Jakob Fehr; in Wetzikon ZH: Hans Pulver; in Wil: Markus Dinkel, Aldo Kopp; in Winterthur: Rolf Gehrig, Ulrich Isler, Daniel Kägi; in Zug: Arthur Ambühl, Hubert Häusler; Jürgen Krauter, Markus Lüönd; in Zurich: Roland Amacker, Fabrizio Ammirati, Silvia Amrein, Thomas Arm, Werner Atzenweiler, Christos Bagios, Stephanie Banderet, Rosemarie I. Baumann, Alois Baumgartner, Wilfried Benner, Hans Bertschi, Polly Bieri, Pascal Bocion, Martin Bode, Martin Böller, Markus Bolliger, Robert Bonomo, Paul Börner, Hanspeter Bosshard, Nicole Brandes, Raymond Bressoud, Andreas Bretscher, Peter Britt, Ruth Brodmann, Nicholas Rowland Brown, Susanne Buchholz-Spillmann, Eduard Buchmann, Martin Bürki, Reto Cadalbert, William Cescon, Beatrice Dal Balcon-Schiltknecht, Eric Chevallier, Thierry Cottet, Martin Degen, Daniel Dettwyler, Markus Di Biase, Thomas Dickob, Alain Eckmann, Andreas Engeli, Irmgard Eschmann, Urs Fäs, Ariane Faesch, Daniel C. Fausch, Martin Fehlmann, Dominique Ferrat, Christina Fischer, Ralph Frey, Bettina Furrer, Ralph Fütterer, Alain Gallati, Tatjana Gaspar, Martin Geiger, René Gerig, Natasha Gill, Gian Gisler, Roland Glauser, Agnès Gobet Schärer, Benno Good, Philip Good, Andreas Götz, Josef Graber, Markus Grieder, Barbara Grünewald, Pascal Guillet, Winfried Gutmannsbauer, Marcel Haas, Eric Haener, Thomas Haller, Tuba Halter, Arnt-Erik Hansen, Barbara Hartmann, Martin Häsler, Peter Haug, Robert Hausammann, Michaela Hayer, Markus Heim, Ralf Hersel, Daniel Hirsch, Hanspeter Hochuli, Victoria Höfner, Marco Huber, Gabriela Hübscher, Thomas Isenring, Bruno Jenny, Beat John, Volker Kamp, Esther Känzig, Markus Kappeler, Sylvia Kasa, Jan Keller, Riccardo Keller, Ulrich Keller, Liladhar Khandelwal, Patrick Klingele, Stefano Knöpfel, Hugo Koller, Adriaan Koppejan, Ivo Krämer, Marcel Krebs, Paul Krücker, Reinhard Kummer, René M. La Barre, Robert Lanz, Dieter Laubi, Jennifer Lauer, Thomas Leemann, Marion Lerf, Olaf Liedtke, Thomas Locher, Beat Lütolf, Karl Mächler-Heeb, Sarah Elizabeth Mackie, Ilona Marder, Angel Marquez, Ursula Marti, Rene Marty, Rolf Maurer, Regina Meier-Bee

Growth in Swiss industry eases.

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

The second half of 2000 saw a gradual slowing of the Swiss industry's expansion. According to the latest UBS survey, the easing in momentum is likely to continue in the first months of 2001. Despite the slowdown, however, growth should continue at a good level.

UBS and Credit Suisse Group create compensation fund for Biber shareholders.

2001-01-31T00:00:00.000+01:00

UBS and Credit Suisse Group have set up a CHF 17 million compensation fund for shareholders of Biber Holding AG. The Swiss Federal Banking Commission (FBC) has taken note of and endorses this action.

UBS finalizes equity funding for PaineWebber merger.

2001-01-26T00:00:00.000+01:00

UBS has completed the equity funding for its USD 11.8 billion (CHF 20.8 billion) merger with PaineWebber, with no further requirement to issue shares. The integration of PaineWebber has proceeded very smoothly and is now essentially complete: the final IT and operational changes will be implemented in early February.

As announced at the completion of the merger, UBS chose to make an initial issuance of 12 million new ordinary shares, and to re-issue 7 million shares held in Treasury. The remaining 21.6 million ordinary shares needed for the merger were borrowed in the market.

Through its Treasury share buy-back program, which started on 6 November 2000, UBS has now repaid all the borrowed shares. No further new shares will be issued in connection with the PaineWebber merger. UBS has met its commitment to minimize the dilution of earnings and voting power, by keeping the final number of new UBS shares issued as small as possible.

As at 24 January 2001, UBS had purchased 22.1 million shares through the buy-back program, at an average price of CHF 262. The program will continue for the time being. Any further shares repurchased under the program will not be cancelled, but will be used for Treasury management purposes, principally to fund the Group's various employee share ownership plans. In order to ensure maximum transparency and clarity for investors, UBS will continue to publish the amount of Treasury shares repurchased every ten business days. Details can be found on the Investor Relations website at www.ubs.com/investor-relations.

UBS is and intends to remain one of the best-capitalized financial institutions in the world. UBS will, however, continue to avoid the build-up of excess capital, through selectively investing in its own shares. Any shares bought for capital reduction purposes would be repurchased under a separately announced, "second-line" buy-back program aimed at institutional investors, allowing tax efficient cancellation of the shares.

Swiss Challenge to the America's Cup 2003.

2001-01-23T00:00:00.000+01:00

UBS forms a partnership with Swiss Challenge.

Swiss economy defies drop in US growth.

2001-01-19T00:00:00.000+01:00

The markets' estimation of the US economy has worsened dramatically over the past few weeks. While the main concern at the start of December was just how hard the expected "soft landing" would turn out to be, this has been replaced by fears of a recession. There were two reasons for this considerable shift in opinion: a variety of worse-than-expected statistics from the US and the US Federal Reserve's surprise interest rate cut. UBS's economists have also revised their US growth forecasts downwards. However, they are expecting a slowdown rather than a severe downturn. For the year 2001 as a whole, UBS's economists put US growth at 2.2%, with a first-half figure of 1.6% rising to 2.7% in the second half of the year. Growth should accelerate once again in 2002 to reach 3.0%.

Poor US performance hits Japan harder than Europe

There can be no doubt that, since the US is the driving force behind the global economy, a weakening of its economy will have repercussions around the world. However, the different regions will be affected to different extents. For Europe (the EMU states), UBS has lowered its 2001 growth forecast slightly to 2.5%, but the 2002 figure remains unchanged at 2.8%. The impact on the already shaken Japanese economy, meanwhile, is likely to be more severe. UBS now forecasts growth of 0.7% for Japan in 2001, with second-half growth approaching zero.

Only minimal effects expected in Switzerland

On a more positive note, there are currently no indications that the global economic slowdown will have a significant effect on Switzerland's economy. Swiss growth is not dependent on exports alone. As a result, UBS sees no reason to alter its growth forecasts of 2.2% for 2001 and 2.0% for 2002. The growth motors behind these figures have changed slightly, though. The balance has shifted by a small amount from export-driven growth to domestic growth, in particular in terms of consumer spending and investment.
The principal risks inherent in this Swiss growth scenario relate to a marked deterioration in consumer sentiment and a sharper-than-expected economic downturn in Europe. Both of these developments could force us to revise our figures downwards.

Further interest rate cuts expected

UBS's economists expect the Fed to follow the surprise interest rate cut it made at the start of the year with further moves to reduce rates by a total of 150 basis points between now and mid-year. As far as the European Central Bank (ECB) is concerned, though, they currently see no grounds to anticipate a more expansive approach in the near future. A downward step of 25 to 50 basis points should take place, but not before the end of the second quarter. The strength of the domestic economy will likewise enable the Swiss National Bank (SNB) to postpone any action for the time being, particularly since the core inflation rate is expected to rise further in the near future on account of the tight labour market situation. However, if the ECB loosens the screw earlier than expected the SNB is more than likely to follow suit as the CHF could otherwise run the risk of overheating. The general cooling-off in the first half of the year should make for stable interest rates at the long end, although these may be in danger of rising gradually during the second half. UBS estimates that the 10-year government bond yield will be around 3.9% at the end of December. This prognosis is supported by our currency forecasts. UBS expects the EUR/CHF figure to reach 1.54 in June 2001 and 1.58 by December. It expects the EUR/USD figure to hit 1.05 in June and 1.00 by December, which implies a USD/CHF rate of 1.47 in June and 1.58 in December.

Zurich / Basel, January 19, 2001

UBS

Jakob Hlasek has joined the Sports and Entertainment Group of UBS as a consultant.

2001-01-18T00:00:00.000+01:00

UBS announces today that Jakob Hlasek, former Swiss number one and current Davis Cup captain, has joined its Sports and Entertainment Group (SEG) as a consultant effective January 1st, 2001.

UBS Gold & Numismatics - Auctions 50 and 51.

2001-01-15T00:00:00.000+01:00

The Numismatic Department of UBS AG in Basel begins the New Year with a double auction, held from January 30 to February 1, 2001 in the Hotel Radisson SAS in Basel.

UBS sells real estate company NURESTRA AG.

2000-12-15T00:00:00.000+01:00

UBS has sold its real estate company NURESTRA AG to a group of private investors. NURESTRA's portfolio comprises 31 residential properties, principally in western Switzerland.

Top Management Changes.

2000-12-14T00:00:00.000+01:00

UBS announces a number of changes in its top management.

UBS ART AWARD 2000 goes to Martina Gmür.

2000-12-08T00:00:00.000+01:00

On behalf of the international jury, Sir Nicholas Serota announced the winner of the UBS Art Award 2000 in the London Whitechapel Art Gallery. The UBS Art Award 2000 - the first of its kind - is an international art competition in which graduating students from 20 art colleges in ten countries were invited to participate. Supporting young artists reflects UBS Private Banking's commitment to promoting young talents and to contributing to the painting of tomorrow.

UBS sells real estate company IMPRIS AG.

2000-12-01T00:00:00.000+01:00

UBS has sold its real estate company IMPRIS AG to Whitehall. This is the first transaction in which a Swiss real estate company has been purchased by a foreign investor. IMPRIS AG has set a new benchmark in the Swiss real estate market by providing high quality property information to international standards. The portfolio comprises 13 commercial properties consisting of office and retail premises.

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UBS offers fully integrated solution for electronic payment services.

2000-11-16T00:00:00.000+01:00

UBS is the first Swiss financial institution to offer its business clients a fully electronic billing cycle between billers, recipients and their bank. UBS plans to extend the service next year to cover business-to-consumer billing.

UBS to acquire Fondvest AG.

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

UBS Asset Management is to acquire Fondvest AG, an asset management company specializing in independent advisory and distribution services in the fund business. Fondvest AG offers clients such as banks, insurance companies and asset managers, but also private individuals, access to a comprehensive range of funds from Swiss and foreign providers. With this move, UBS is securing access to an independent service platform in the dynamic growth market of open fund distribution.

UBS and PaineWebber complete merger.

2000-11-06T00:00:00.000+01:00

UBS and PaineWebber completed their merger on 3rd November creating a preeminent global investment services firm. The total cost of the transaction to UBS was USD 11.8 billion.

UBS announces share issuance plans.

2000-11-02T00:00:00.000+01:00

In connection with its merger with PaineWebber, UBS announces an initial new issuance from authorized capital of 12 million ordinary shares and the re-issuance of 7 million shares currently held in Treasury.

UBS and PaineWebber announce merger completion date.

2000-10-27T00:00:00.000+02:00

UBS and PaineWebber are pleased to announce that the closing date for their merger is scheduled for Friday 3 November 2000.
Under the terms of the merger agreement, the Election Deadline is therefore fixed at 5pm, New York City time, Wednesday 1 November 2000. This is the deadline by which all PaineWebber shareholders must submit to the exchange agent their forms of election indicating the type of consideration they wish to receive.

PaineWebber shareholders may elect to receive either cash or UBS shares in exchange for their PaineWebber shares, at the rate of USD 73.50 or 0.4954 of a UBS share per PaineWebber share, subject to the proration provisions of the merger agreement. Any shareholder who does not submit a form to the exchange agent by the Election Deadline will be deemed to have no preference as to the type of consideration they will receive.

UBS announces "flash" 3rd quarter results: net profit up 73%.

2000-10-26T00:00:00.000+02:00

UBS today announced preliminary "flash" third quarter results demonstrating continued strong profitability, with Group net profit after tax and minority interests above CHF 2 billion for a third straight quarter and up 73% over the third quarter of 1999, on an adjusted basis.

Shadowing the euro is a hazardous course.

2000-10-24T00:00:00.000+02:00

UBS study on the future of the Swiss franc

Paine Webber shareholders overwhelmingly approve merger with UBS.

2000-10-24T00:00:00.000+02:00

Paine Webber shareholders voted overwhelmingly on 23 October 2000 to approve the proposed merger with UBS. Marcel Ospel, Chief Executive Officer of the UBS Group, said "I am extremely pleased that such a substantial majority of Paine Webber shareholders has endorsed our merger. I thank the shareholders for their vote of confidence in our plans to create a pre-eminent global investment services firm."

UBS announces top-management succession plans.

2000-10-11T00:00:00.000+02:00

Alex Krauer, Chairman of UBS AG, has advised the Board of Directors of his decision to step down from his function after the 2001 Annual General Meeting of Shareholders. The Board will propose that Marcel Ospel, Group Chief Executive Officer, succeed him and that the Board be internationalized.

UBS prices offering of USD 1.5 billion Trust Preferred Securities, its first U.S. public offering.

2000-10-03T00:00:00.000+02:00

On 2 October 2000, UBS priced the offering of USD 1.5 billion of 8.622% Trust Preferred Securities that was first announced on 20 September 2000. This was UBS's inaugural offering in the U.S. public markets. The securities were priced at a spread of 278 basis points over the 5.75% August 2010 Treasury securities. The securities have a perpetual maturity with a step-up and call on 1 October 2010, and will qualify as Tier 1 capital for UBS under Swiss regulations. UBS Warburg LLC was the sole bookrunner and joint lead with PaineWebber Incorporated. Co-managers on the deal were Credit Suisse First Boston, Goldman, Sachs & Co, Merrill Lynch & Co., Morgan Stanley Dean Witter and Salomon Smith Barney.

Approximately 87% of the issue was placed in the U.S. and 13% internationally.

Luqman Arnold, Chief Financial Officer of UBS AG said, "We are very pleased with the execution on this transaction and the investor reception for the UBS name and credit".

UBS is the best online broker in Switzerland.

2000-10-02T00:00:00.000+02:00

UBS Ranked Switzerland's Number One Online Broker in September
By BlueSky Ratings

UBS's position in own shares above reporting limit of 5%.

2000-09-25T00:00:00.000+02:00

UBS's position in its own shares has moved above the statutory stock exchange reporting limit of 5%. On 19 September 2000 UBS held 5.0 % of its registered shares in the form of shares, reaching the total number of 21,558,429, and a potential 4.2 % in the form of derivatives. The position includes shares held by UBS Warburg for trading purposes and shares held by UBS Group Treasury, including shares repurchased through the second trading line destined for cancellation (accounting for 4.3% of registered shares).

Zurich / Basel, 25 September 200

UBS

UBS Art Award 2000 - Swiss finalists chosen

2000-09-18T00:00:00.000+02:00

The Swiss finalists for the UBS Art Award 2000 have now been selected and will be taking part in the final round of the competition in London together with other young artists from ten different countries. The entries from the young Swiss artists will be shown to the public on 19 September 2000 at the UBS Training Center in Basel.

UBS Art Award 2000 for young artists - a tribute to the painting of tomorrow.

2000-09-18T00:00:00.000+02:00

UBS is awarding its first international prize for painting. Students from twenty selected art colleges all over the world were invited to compete for the UBS Art Award 2000. More than 300 works were submitted from ten countries. With the Award, UBS highlights its commitment to promoting up-and-coming talent and strengthening the interaction between the arts, the world of banking and the general public.

UBS sets up its own life insurance company.

2000-09-08T00:00:00.000+02:00

From the first quarter of 2001, UBS will be offering life insurance under its own name as well as risk cover supplied by Providentia. For this purpose it will be setting up its own life insurance company. Through an open sales architecture UBS will market products of other companies in addition to its own range, working as it has done up to now with a select group of insurance companies. This move is in line with the bank's strategy of providing insurance products that cater to capital accumulation and retirement saving needs and therefore fit the business of an integrated financial services group.

Exclusive to UBS: stock-market transactions via WAP for all e-banking clients.

2000-09-05T00:00:00.000+02:00

After a successful pilot phase, UBS is today launching e-banking wap for all e-banking clients, making it one of the first banks in Europe to enable stock-market orders to be issued simply and securely on over 80 stock exchanges via WAP mobile phones. The service also allows clients to carry out foreign-exchange transactions, make account transfers and call up account and custody account information. UBS is thus recognizing the growing demand for independence and mobility.

Eurogate: architectural competition for residential area.

2000-09-01T00:00:00.000+02:00

Things are moving at Eurogate, the major development planned in the vicinity of Zürich main station. UBS, the developer, is joining forces with the City of Zürich to commission design proposals from eight prominent domestic and foreign architectural firms for the residential area on the Lagerstrasse. The studies are intended as a means of finding attractive, commercially viable and exemplary solutions for utilising this urban zone, within planning approval constraints and other project prerequisites.

UBS shares below limit of 5%.

2000-08-28T00:00:00.000+02:00

UBS's position in own shares below reporting limit of 5%.

Routine inspection of the UBS Group in Japan.

2000-08-24T00:00:00.000+02:00

UBS AG today confirmed that the Financial Services Agency has commenced a routine inspection of the UBS Group in Japan.

UBS sells Solothurner Bank to Bâloise Insurance.

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

Bâloise Insurance is acquiring Solothurner Bank SoBa from UBS. The transaction, due to be finalized this autumn, is still to receive approval from the Swiss supervisory authorities. It has been agreed by both parties that the price of the transaction should not be disclosed. The difference between the proceeds for UBS and the book value is not substantial.

By selling Solothurner Bank SoBa, UBS is complying with a condition set out by the Swiss Competition Commission as a result of the merger between Swiss Bank Corporation and Union Bank of Switzerland that it sells its subsidiary bank by spring 2003 at the latest.

Based in the town of Solothurn, Solothurner Bank operates 19 branches. With a strong presence in the canton of Solothurn and its bordering regions, the bank has a reputation for proximity to its markets and a high level of competitiveness, focusing on the business areas of mortgage lending, investment advisory services, asset management and SME financing. In 1999, it achieved a net profit of CHF 28.7 million and has a staff of around 400.

Zurich / Basel, 22 August 2000

UBS

Targeted virus attack against UBS e-banking clients who use UBS PIN software.

2000-08-17T00:00:00.000+02:00

A new e-mail virus which attacks UBS PIN software has been released. The identity of those responsible is as yet unknown. An analysis by UBS has shown that only a small proportion of UBS e-banking clients are at risk. The vast majority do not use PIN software and are therefore not affected by the virus. There are no reports of damage as yet. UBS IT specialists set up virus filters yesterday morning, and this successfully prevented the virus from spreading within UBS. UBS is preparing to take legal action against whoever is responsible.

Like the "I LOVE YOU" virus, this new variant is spread via the e-mail program Microsoft Outlook. The virus comes with "Resume" in the Subject field and an attachment bearing the name "resume.txt.vbs". As soon as this attachment is opened, the virus attempts to steal scratch list numbers from the UBS PIN module. It cannot do so if the user has configured UBS PIN according to the installation instructions provided.

Anti-virus software companies are already offering updates that can detect this new virus. UBS recommends that all clients who use UBS PIN install suitable anti-virus software and update it regularly.

UBS e-banking clients who use UBS PIN on their PC AND have opened the e-mail attachment named above should proceed as follows: block your e-banking authorization immediately by entering an incorrect password three times, then inform the e-banking hotline on 0848 848 062 without delay.

Provided the usual Internet security guidelines are adhered to (i.e. never open unfamiliar or suspicious e-mail attachments and use up-to-date anti-virus software), UBS e-banking is a safe and reliable Internet banking solution.

UBS clients will be informed via the UBS e-banking homepage.

Basel / Zurich, 17 August 2000

Extraordinary General Meeting of UBS on 7 September 2000.

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

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

Approval of the Swiss bank settlement.

2000-07-27T00:00:00.000+02:00

The two major Swiss banks, Credit Suisse Group and UBS AG, have welcomed the decision by US District Judge Edward Korman to approve the USD 1.25 billion settlement. The verdict reached by Judge Korman in the fairness hearing has cleared the way for the settlement to be made. It is now up to the court to draw up a distribution plan by autumn 2000 and to determine how the funds are to be distributed. The banks hope that those Holocaust survivors or their heirs with an entitlement to the monies from the fund will receive the amounts they are due as soon as possible. The Swiss Bankers Association will publish on the Internet a list of names of the holders of dormant and closed accounts dating from the Second World War era who may have been victims of the Holocaust.

The UBS Verbier Festival Youth Orchestra celebrates its debut.

2000-07-24T00:00:00.000+02:00

UBS Verbier Festival Youth Orchestra celebrates its debut at the opening of the 2000 Verbier Festival & Academy.

A UBS Exclusive: Stock Market Trading via WAP.

2000-07-18T00:00:00.000+02:00

Freedom and mobility are becoming increasingly important in our communication age. As a leading provider of e-banking services, UBS aims to keep one step ahead of this development. Starting July 18, UBS is offering a limited number of clients the opportunity to carry out their banking and stock market transactions via their WAP mobile phones. This service will then be made available to all UBS e-banking clients from the autumn onwards.

UBS launches its Sports and Entertainment Group (SEG).

2000-07-14T00:00:00.000+02:00

The clients of UBS Private Banking are increasingly seeking customized solutions and targeted professional advice covering their whole life-cycle. UBS has addressed this challenge by setting up special advisory teams for the different needs of specific client groups and today announces the launch of its Sports and Entertainment Group.

UBS Announces Flash Second Quarter Results.

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

UBS today announced preliminary second quarter results, showing outstanding growth of 134% since the same period last year on a post-tax basis, adjusted for divestments and one-off provisions.

UBS is the best online broker in Switzerland.

2000-06-30T00:00:00.000+02:00

In the opinion of the independent Internet rating agency, BlueSky Ratings ^TM, UBS is Switzerland's number 1 online broker.
According to BlueSky, UBS earned the top position thanks to its comprehensive information service, its wide range of functions and international stock markets as well as its user-friendly e-banking service.

Zurich/Basel, 30 June 2000

UBS successfully completes share buyback programme.

2000-06-29T00:00:00.000+02:00

Since commencing its programme on 17 January 2000 UBS has bought back 18,421,783 shares at an average price of CHF 217 over a second trading line on the SWX Swiss Exchange. This represents 4.3% of UBS's share capital, which was repurchased over a five month period. These shares cannot be reissued.

www.plenaxx.com - the Swiss e-business portal for SMEs.

2000-06-28T00:00:00.000+02:00

plenaxx.com AG provides the first integrated business-to-business portal for small and medium-sized enterprises and is aiming to be the clear market leader for far-reaching e-business solutions in the SME segment. With capital investment of approximately 50 million Swiss francs and the expertise of the five founder companies namely, Schweizerischer Gewerbeverband (Swiss Trade Association), Mobiliar, Swisscom, UBS and Valora, a unique service portfolio has emerged. The portal is principally designed as an open platform. It allows access to third parties to present their services or to establish web communities. plenaxx.com AG, which was founded at the end of May, with headquarters in Bern, has set itself the goal of assisting Swiss SMEs in gaining a foothold to e-business by providing comprehensive and integrated solutions which will be available from October 2000 onwards.

UBS sells stake in Swiss National.

2000-06-21T00:00:00.000+02:00

UBS has sold its stake in Swiss National Insurance Company with the company's agreement. Both parties have agreed not to disclose details of the price paid for the shares.

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 to act as main sponsor for CULTURA - The World Art & Antiques Fair

1999-08-17T00:00:00.000+02:00

UBS will act as main sponsor for CULTURA - The World Art & Antiques Fair, which Basel will be hosting for the first time, from 13 to 21 November 1999. The main themes of the new fair will be classical Greek and Roman art, Orientalia and pre-Colombian art, as well as illuminated manuscripts and rare books. Among CULTURA's other attractions will be the classical antiques department and a section devoted to 20th century design, crafts and jewellery. Select pieces from private foundations and museums will also be on show. The latter is a new departure for CULTURA, which is thus presenting itself as an art and antiques fair that offers the public the chance to acquaint themselves with exhibits that are not for sale and otherwise virtually inaccessible.

UBS sees its involvement in CULTURA as a complement to its support for Art Basel, the world's premier contemporary art fair, of which it has been a sponsor since 1994. For UBS, both events are important elements in its significant commitment to art and culture. With this involvement the bank aims to promote the active confrontation with contemporary social trends, while fostering interest in and understanding for our cultural heritage.

UBS will be present at CULTURA with its own stand and a numismatics exhibition. The numismatics department forms part of UBS Art Banking, which - in addition to numismatics services - provides art-related advisory services for existing clients. Art Banking is provided as a banking service and is a complementary element in the comprehensive range of advisory and client care services offered to high-net-worth Private Banking clients.

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.