Slide 1: Contents
Contents UBS Group Financial Highlights Letter to Shareholders The Year in Review Our Businesses UBS Wealth Management & Business Banking UBS Global Asset Management UBS Warburg UBS PaineWebber Our Value Drivers Client Focus Innovation and Learning Talent and Culture Brand and Identity Financial Int
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Slide 3: UBS Group
UBS Group UBS is one of the world’s leading financial firms, serving a discerning global client base. As an organization, we combine financial strength with a global culture that embraces change. We are the world’s leading provider of wealth management services and one of the largest asset managers
Slide 4: UBS Group Highlights 2002
We have chosen a number of distinct gardens from around the world as the pictorial theme for our Annual Review this year. Gardens are the product of imagination, expertise and careful attention to detail. Celebrated gardens evolve from inspired ideas that are developed with consistent and relentless
Slide 5: Dear Shareholders
Dear Shareholders, The year 2002 was one of the most challenging ever for the financial industry. Uncertainty about economic developments depressed transaction levels and corporate activity. Equity markets suffered considerable corrections as investor confidence was undermined by negative corporate
Slide 6: The Year in Review
The Year in Review
Slide 7: We operate as one firm with a common set of values
We operate as one firm with a common set of values and aspirations and under the leadership of one management team. With this integrated model, we run a diverse set of global businesses, each in the top echelon of their sectors and committed to vigorously growing their franchises.
Slide 8: UBS Wealth Management & Business Banking
UBS Wealth Management & Business Banking We deliver comprehensive financial services to wealthy private clients worldwide and are the leading bank for individual and corporate clients in Switzerland. Private Banking With more than 140 years of private banking experience, 164 offices worldwide and CH
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Slide 10: Our Businesses: UBS Wealth Management & Business Banking
Our Businesses: UBS Wealth Management & Business Banking
Slide 11: UBS Warburg
UBS Warburg We are a leading investment banking and securities firm providing a full spectrum of products to institutional and corporate clients, governments and financial intermediaries around the world. With almost 16,000 professionals in 30 countries around the world, we are one of the world’s le
Slide 12: Reshaping the global broadcasting industry (continued)
>> Reshaping the global broadcasting industry (continued) As an example, the media group helped to create the world’s largest Spanish-language media company when they acted as sole financial advisor to Univision, the leading US Spanish-language TV broadcaster, in its USD 3.5 billion acquisition of H
Slide 13: Our Businesses: UBS Warburg
Our Businesses: UBS Warburg In the equities business, we are a leader in both primary and secondary markets for equity, equity-linked (e.g. convertible bonds) and equity derivative products. We are the preeminent provider of international equities for US institutional clients while in Europe we enjo
Slide 14: Teaming up in Atlanta; UBS PaineWebber
>> Teaming up in Atlanta When UBS PaineWebber financial advisors Bruce Bickley and Keith Mericka teamed up in 1989 in Atlanta, Georgia, they saw a unique opportunity to serve private company owners across the country wanting to sell their businesses. Working as partners, they spent a great deal of t
Slide 15: Our strength and the five value drivers
To the outside world, our strength is often perceived as being derived from the financial success of our businesses. Yet, at the same time, we also believe our strength is projected through other more intangible factors – factors such as the values we share, our culture, our client relationships and
Slide 16: A lasting partnership
A lasting partnership Our clients’ success is our success. The only way we can build lasting relationships with them is by taking the time to understand their specific financial situations and their individual objectives. When we combine that understanding with our expertise, we become their partner
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Slide 20: Bank of China makes historic debut
>> Bank of China makes historic debut When UBS Warburg acted as joint global coordinator and bookrunner for the Initial Public Offering (IPO) of shares in the Bank of China, Hong Kong, headlines were guaranteed. The USD 2.9 billion IPO, which took place in July 2002, was the first-ever international
Slide 21: Supporting client needs
Supporting client needs Innovation and Learning are central to our vision. Clients look to us for the experience embodied by our staff and the creativity characterized by effective solutions.
Slide 22: New chip cards for e-bankers
>> New chip cards for e-bankers Our e-banking services for private clients in Switzerland emphasize the traditional values of trust, quality, security and discretion. Using the most advanced security solutions and technology available is one of the many ways we ensure that we are upholding those val
Slide 23: Our Value Drivers: Innovation and Learning
Our Value Drivers: Innovation and Learning
Slide 24: More than just a job
More than just a job Knowledge and innovation come from the talent, enthusiasm, creativity and experience of our people. At UBS, we recognize that the people joining us are looking for more than just a job – they are looking for challenging, rewarding, long-term careers in an organization that encou
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Slide 31: Award-winning advertising
>> Award-winning advertising When we embark on an advertising campaign, we do not just want to drum a long list of products and services into people’s heads. Instead, we look for creative and innovative ways that cut through the media and advertising clutter while intuitively helping people to quick
Slide 32: Our Value Drivers: Financial Intelligence
Our Value Drivers: Financial Intelligence
Slide 33: 2002 Report
2002 Report
Slide 34: Chapter introduction: results, directors and corporate governance
This chapter dicusses UBS Group’s results for 2002, provides details of our directors and officers and outlines our corporate governance principles.
Slide 35: Corporate Governance
Corporate Governance UBS is committed to high standards of corporate governance, ensuring that we create value sustainably for our shareholders while protecting their interests. The Group Executive Board
Slide 36: Corporate governance and management structure
Corporate governance – the way that the leadership and management of UBS is organized and how they operate in practice – ultimately aims at leading UBS to success, protecting the interests of shareholders and creating value for them and for all stakeholders. Good corporate governance seeks to balanc
Slide 37: Board of Directors and Group Executive Board
On 31 December 2002, the Board consisted of nine directors (see list on page 50). At its Annual General Meeting on 18 April 2002, UBS’s shareholders elected Ernesto Bertarelli, CEO of Serono International SA (Geneva) to the Board. Markus Kündig, Vice Chairman since 1998, reached retirement age and t
Slide 38: The Concept: Gardens
The Concept: Gardens Site of Reversible Destiny-Yoro Park (Gifu, Japan) Located in a section of Yoro Park, the Site of Reversible Destiny, which opened in 1995, is an innovative park and architectural “intervention” conceived by artists Shusaku Arakawa and Madeline Gins. Their intention was to illus