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UBS: Appointments in Wealth Management & Business Banking

| Media Releases Switzerland

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.

Wealth Management & Business Banking has reached important milestones in the implementation of its client-driven and efficient business model. By creating two new positions, the business group intends to further strengthen its client relationships and thus expand its client-driven business model.

Starting 1 February 2005, Eugen Haltiner will take on the newly-created position of Vice-Chairman Business Banking and concentrate primarily on corporate client relationships. Over the past several years, he has managed successfully the Swiss domestic business, which has become a reliable source of revenues for the bank. Hans-Ulrich Meister will take over responsibility for this business. He has many years of experience in banking and management and has been head of the Large Corporates & Multinationals division since 2003.

Starting 1 July 2005, Thomas Escher will take on the newly-created position of Vice-Chairman Wealth Management. He will concentrate on key relationships with ultra high net worth individuals in Switzerland and select international markets, and support the ongoing expansion of that business. Thomas Escher has successfully implemented a number of technology projects, including the Strategic Solution Program (SSP) which involved a comprehensive modernization of the IT platform. Rolf Olmesdahl will assume the management of the business area IT as from mid-year. He has many years of professional and management experience in the IT area.

Zurich / Basel, 10 January 2005
UBS


CV summaries:

Eugen Haltiner (Swiss, 56, location: Zurich)
Eugen Haltiner, the newly-appointed Vice-Chairman Business Banking, became a member of the Group Managing Board in 1998 and successfully implemented the integration of the Private and Corporate Clients business of the two predecessor banks Union Bank of Switzerland and Swiss Bank Corporation. In 1999 he was appointed head of Corporate Clients. Since 2002 he has headed the Business Area Business Banking, which has become a reliable source of revenues for the UBS Group.

Thomas Escher (Swiss, 56, location: Zurich)
Thomas Escher, the newly-appointed Vice-Chairman Wealth Management, became a member of the Group Managing Board in 1998 and headed IT in the Private and Business Clients division. Under his leadership, implementation of the Strategic Solution Program, a key project launched in 1999, was successfully completed.

Hans-Ulrich Meister (Swiss, 45, location: Zurich)
Hans-Ulrich Meister, the new Head of the Business Area Business Banking in Wealth Management & Business Banking, headed the Corporate Clients division in the Zurich region from 1999 to 2002. Since 2003, he has been head of the Large Corporates & Multinationals division. In 2004 he was appointed member of the Group Managing Board and deputy head of the Business Area Business Banking.

Rolf Olmesdahl (Swiss, 41, location: Zurich)
Rolf Olmesdahl, the new Head of the Business Area IT in Wealth Management & Business Banking, headed the Development Business Systems section from 1999 to 2003. He was appointed head of the Stream Delivery Unit Clients & Products division in 2004.