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UBS opens wealth management office in Calgary

New York Media Releases Americas

UBS Bank (Canada), a wholly owned subsidiary of UBS AG, today announced the opening of a branch in Calgary to expand its wealth management presence for private clients in Western Canada.

Grant Rasmussen, Head of UBS Wealth Management in Canada, explains: "Calgary is home to the second largest number of company headquarters in Canada, and as more companies thrive in Western Canada's oilpatch, they will need global financial solutions, such as multi-currency investments, something a global financial services firm such as UBS can provide. Opening an office in Calgary will allow UBS to enhance its presence in Canada by taking it closer to the business community in Western Canada."

UBS Wealth Management client advisors follow a comprehensive Four Step Advisory Process: detailed understanding of the client's needs, a tailor made recommendation; implementation and ongoing monitoring and fine turning.

Each client will be able to access the recognized expertise of UBS's specialists across the full range of products and services.

UBS Bank (Canada) offers services to private clients in the areas of portfolio management, investment advisory and investment lending, as well as an extensive range of financial planning and integrated wealth management services. In order to facilitate global investments, UBS Bank (Canada) offers a broad range of currency accounts.

The Hon. Michael Wilson, Chairman of UBS Canada adds: "By benefiting from the experience, know-how and substantial resources provided by the UBS Group as a whole, we are in a position to offer Canadian investors very high quality advice and best-in-class products both within Canada and internationally. Our client advisors can access our international network of experts and can propose truly global investment solutions. We aim to offer clients a range of innovative products and services of exceptional quality and to become one of the major players in private wealth management in Canada in the years ahead."

UBS Bank (Canada) began private banking operations in Canada in 1951. With offices in Montreal and Toronto, the company opened a branch in Vancouver in 1981. UBS Canada employs more than 250 people through its three core businesses: Wealth Management, Global Asset Management, and Investment Banking. UBS's energy trading business in Canada, UBS Commodities Canada Inc., is based in Calgary.

UBS Bank (Canada) was rated as the best Canadian private bank for Ultra High Net Worth Clients in Euromoney's 2005 survey. UBS already works in Canada with a broad spectrum of high net worth individuals seeking to diversify their investments globally. The Wealth Management unit offers tailor-made financial solutions (such as portfolio management services and structured products) and strives to ensure that these are tax-efficient. In Canada, Wealth Management and Investment Advisory services are provided through UBS Bank (Canada) and its subsidiary UBS Investment Management Canada Inc.

UBS is one of the world's leading financial firms, serving a discerning client base. As an organization, it combines financial strength with a global culture that embraces change. As an integrated firm, UBS creates added value for clients by drawing on the combined resources and expertise of all its businesses.

UBS is present in all major financial centers worldwide. It has offices in 50 countries, with 39% of its employees working in the Americas, 38% in Switzerland, 16% in Europe and 7% in the Asia Pacific time zone. UBS's financial businesses employ over 69,000 people worldwide. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).


Wealth management
With more than 140 years of experience, and an extensive global network of around 180 offices, UBS is the world's leading wealth management business. Some 3,700 client advisors provide a comprehensive range of services customized for wealthy individuals, ranging from asset management to estate planning and from corporate finance to art banking. In the US, UBS is one of the biggest private client businesses with a client base of nearly 2 million. Its American network of around 7,500 financial advisors provides sophisticated services to affluent and high net worth clients.

Investment banking and securities
UBS is a global investment banking and securities firm with a strong institutional and corporate client franchise. Consistently placed in the top tiers of major industry rankings, it is a leading player in the global primary and secondary markets for equity, equity-linked and equity derivative products. In fixed income, it is a first-rate global player. In foreign exchange, it places first in many key industry rankings. In investment banking, it provides first-class advice and execution capabilities to its corporate client base worldwide. All its businesses are sharply client-focused, providing innovative products, top-quality research and comprehensive access to the world's capital markets.

Asset management
UBS, as a leading asset manager, provides a broad base of innovative capabilities stretching from traditional to alternative investment solutions for, among other clients, financial intermediaries and institutional investors across the world.

For further information:

Graeme Harris, Head of Corporate Communications, UBS Canada,
Phone: (416) 350-2804

New York, October 5, 2005