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

Zurich / Basel Price Sensitive Information

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.

Biography of Robert J. McCann

Robert J. McCann, 51, is the Chief Executive Officer of UBS Wealth Management Americas (WMA) and a Member of the Group Executive Board of UBS AG.

Prior to joining UBS, he had a 26-year career at Merrill Lynch during which he held a variety of executive leadership positions throughout the firm. Prior to his departure in January 2009, McCann was vice chairman of Merrill Lynch & Co., Inc. and president of Global Wealth Management, which provides investment banking and retirement services for individual and businesses globally. Under his leadership it was one of the largest businesses of its kind in the world with more than 16,600 financial advisors and USD1.6 trillion in client assets. Previous roles 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, head of Global Securities Research and Economics, chief operating officer of Global Markets and Investment Banking, head of the Global Institutional Sales and head of Global Equity Trading and Markets.

Mr. McCann has worked extensively with various Securities Associations and Exchanges. He has been a governor of FINRA and a board member of the Securities Industry Association.

Mr. McCann has been a leader in several charitable organizations with a focus on those fostering education. He currently serves on the Executive Committee of the board of directors of the American Ireland Fund, a leader in integrated education. He is a vice chairman of the board of trustees of Bethany College and is chair of the College's Investment Committee. He is the founder of the McCann Learning Center at Bethany College and the McCann Investment Fund.

Mr. McCann is also a member of the advisory board of No Greater Sacrifice, an organization that serves to help educate and mentor the children of our nation's men and women who have fallen in the line of duty. He is also chair of the Executive Advisory Board of Sponsors for Educational Opportunity, an organization that provides superior educational and career programs to young people from underserved communities.

Mr. McCann received his B.A. in Economics from Bethany College and his M.B.A. from Texas Christian University. Mr. McCann also completed the Advanced Management Program at Harvard Business School. Mr. McCann and his wife Cindy have two daughters, Meredith and Madeline and live in New Jersey.