UBS Opens First US Office Dedicated to Ultra High Net Worth Clients

The 25,000-square-foot office will be located on the 25th floor at299 Park Avenue in New York City and is the first in a series ofplanned offices nationwide that will cater to the specificrequirements of ultra high net worth clients based in the US. Clientswill be able to draw upon the expertise of such professionals as trustand estate planners, banking and lending specialists, and alternativeinvestment and structured products experts.

"We are pleased to offer our ultra high net worth clientscomprehensive wealth management services that draw on the firm'sbanking and brokerage expertise and are delivered through PrivateWealth Advisors who are specially accredited to meet their uniquerequirements," said Marten Hoekstra, Head of UBS Wealth Management US."Successfully meeting the needs of these clients is a crucialcomponent of our growth strategy in the US."

The office will be managed by Frank Minerva, who moves frommanaging the UBS Financial Services midtown Manhattan branch, and whohas been with the firm for more than 18 years.

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

UBS is the world's largest wealth manager, a top tier investmentbanking and securities firm, and one of the largest global assetmanagers. In Switzerland, UBS is the market leader in retail andcommercial banking.

UBS is present in all major financial centers worldwide. It hasoffices in 50 countries, with about 39% of its employees working inthe Americas, 37% in Switzerland, 16% in the rest of Europe and 8% inAsia Pacific. UBS's financial businesses employ more than 69,500people around the world. Its shares are listed on the SWX Swiss StockExchange, the New York Stock Exchange (NYSE) and the Tokyo StockExchange (TSE).