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UBS Appoints John Straus Head of U.S. Private Wealth Management Group

New York Media Releases Americas

UBS announced today that John Straus has been appointed Head of Private Wealth Management, the group within UBS Wealth Management U.S. that serves the firm's ultra high net worth (UHNW) clients in the United States

In this role, Mr. Straus is responsible for the strategic direction and management of the Private Wealth Management Group. Working collaboratively with the branch network of UBS Wealth Management U.S., he will drive the firm's U.S. expansion of its UHNW platform, including the build-up of offices across the country dedicated to serving these clients and the delivery of specialized products and services.

Mr. Straus reports to Marten Hoekstra, Head of UBS Wealth Management U.S. "As the wealth management marketplace grows increasingly sophisticated, today's ultra-high-net-worth clients need both a state-of-the-art offering as well as wealth advisors who take the time to listen and understand the clients' unique needs," Mr. Hoekstra said. "With extensive experience in this field, John Straus will lead UBS' U.S. efforts to deliver a consistent approach that leverages the global resources of UBS for this important client segment."

Most recently, Mr. Straus served as Managing Director and Head of U.S. Private Banks at J.P. Morgan Chase. Prior to his position there, he held various senior management positions at Morgan Stanley Dean Witter & Co., including Head of U.S. Private Wealth Management.

UBS is one of the world's leading financial firms, serving a discerning global client base. As an organization, it combines financial strength with an international 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 the world's largest wealth manager, a top tier investment banking and securities firm, and one of the largest global asset managers. In Switzerland, UBS is the market leader in retail and commercial banking.

UBS is present in all major financial centers worldwide. It has offices in 50 countries, with about 39% of its employees working in the Americas, 37% in Switzerland, 16% in the rest of Europe and 8% in Asia Pacific. UBS's financial businesses employ around 72,000 people around the world. Its shares are listed on the SWX Swiss Stock Exchange, the New York Stock Exchange (NYSE) and the Tokyo Stock Exchange (TSE).

Christine Walton
Tel. +212 882 5688

New York, October 25, 2006