Full Description

UBS AG is a global provider of financial services to private, corporate and institutional clients. The Company’s financial businesses are organized on a worldwide basis into three business divisions and the Corporate Center. Global Wealth Management & Business Banking consists of three segments: Wealth Management International & Switzerland, Wealth Management US and Business Banking Switzerland. The business divisions Investment Bank and Global Asset Management constitute one segment each. On February 10, 2009, UBS announced the split of Global Wealth Management & Business Banking into two divisions: Wealth Management & Swiss Bank and Wealth Management Americas. In December 2008, it disposed its interest in Bank of China. In February 2009, JPMorgan Chase & Co. completed the acquisitions of the Company’s global agricultural business. In February 2008, it acquired 100% of the Caisse Centrale de Reescompte (CCR) Group. In August 2008, UBS sold its 24.9% stake in Adams Street Partners. On May 6, 2009, UBS AG completed the acquisition of the commodity index business of AIG Financial Products Corp, including AIG`s rights to the Dow Jones-AIG Commodity Index. In August 2009, the Company reorganized its Swiss Bank and wealth management business as part of its overall restructuring.

Global Wealth Management & Business Banking

Global Wealth Management & Business Banking is a global provider of financial services for clients and a bank for individual and corporate clients in Switzerland. Wealth Management International & Switzerland offers financial advice to support clients. Wealth planning advice is given on topics, such as the funding of education, gift giving, inheritance and succession. Corporate finance advice is offered to support clients in the process of disposing of corporate assets. Wealth Management International & Switzerland fulfills the basic banking needs of private clients with a variety of products, ranging from cash accounts and savings accounts to credit cards, mortgages and securities-backed lending. Wealth Management US offers clients an n array of wealth management services that focus on the individual investment needs of each client. Planning supports clients through the various stages of their lives, including education funding, charitable giving, tax management strategies, estate strategies, insurance, retirement, and trusts and foundations. To address the range of clients’ investment needs, Wealth Management US offers lending and cash management services, including the Resource Management Account (RMA) product, credit cards, securities-backed lending and mortgages. Business Banking Switzerland is UBS’s retail and commercial banking unit. Business Banking Switzerland serves both retail and commercial clients, including financial institutions.

The Company competes with Credit Suisse, HSBC, Citigroup, Coutts, Deutsche Bank AG, Sal. Oppenheim, Unicredit, Julius Baer, Pictet and Raiffeisen Bank.

Global Asset Management

Global Asset Management provides investment capabilities and services to private clients, financial intermediaries and institutional investors. Global Asset Management offers a range of investment capabilities and services across all asset classes, including equities, fixed income, asset allocation, currency, risk management, hedge funds, real estate, infrastructure, private equity and fund administration. Investment management products and services are offered in the form of segregated, pooled and advisory mandates along with a range of approximately 500 registered investment funds, exchange-traded funds and other investment vehicles across all asset classes. Equities offers a spectrum of investment styles with varying risk and return objectives. Fixed income offers a range of global, regional and local market-based investment strategies that cover a range of benchmarks. Alternative and quantitative investments has two primary business lines, such as multi-manager (fund of funds) and single manager. Global real estate actively manages real estate investments in Asia, Europe and the United States across all sectors.

The Company competes with Fidelity Investments, AllianceBernstein Investments, BlackRock, JP Morgan Asset Management, Deutsche Asset Management and Goldman Sachs Asset Management.

Investment Bank

The Investment Bank provides a range of products and services to corporate and institutional clients, governments, financial intermediaries and alternative asset managers. The needs of private investors are met indirectly through working with UBS’s wealth management businesses and other private banks. A participant in the global primary and secondary markets for equity, equity-linked and equity derivative products, the equities business area distributes, trades, finances and clears cash equity and equity-linked products. Business lines of the equities include cash equities, derivatives, prime services and equity research.

Fixed income, currencies and commodities area delivers products and solutions to corporate, institutional and public sector clients in all markets. The business lines of the fixed income, currencies and commodities include macro, credit, emerging markets, client services and research. The investment banking department provides advice and a range of execution services to corporate clients, financial institutions, financial sponsors, sovereign wealth funds and hedge funds.

The Company competes with Bank of America / Merrill Lynch, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan Chase and Morgan Stanley.