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

Media Releases APAC

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

Currently UBS's Joint Global Head of Investment Banking and a member of the UBS Group Managing Board, Tapner succeeds Clive STANDISH, who becomes UBS's Chief Financial Officer on 1st April.

Tapner, with his principal office in the region in Hong Kong, will drive the implementation of UBS's strategy in Asia Pacific across its wealth management, asset management, investment banking and securities businesses. Tapner will continue to support a number of UBS's key corporate clients, and as Chairman of UBS's Investment Banking Department, will continue to report to John COSTAS, Chairman and CEO, Investment Bank.

With more than 20 years at the firm, Tapner headed UBS's Equity Capital Markets business before assuming his current role in 1999.

Ken MOELIS will succeed Tapner as Joint Global Head of Investment Banking, alongside Robert GILLESPIE. Moelis joined UBS in 2001 as Head of Investment Banking for the Americas and has led the successful build-up of UBS's corporate client franchise in the region.

Hong Kong, 16 March 2004