1、Financial Report 2001abThe Power of Partnership Flawless strategy,teamwork,andtechnology are the prerequisites forcompeting in the worlds great oceanraces.The same elements underpinsuccess in the global financial markets.UBS is Main Partner of Alinghi,SwissChallenge for the Americas Cup 2003and is a
2、lso Principal Partner of theNautor Challenge team for the 2001-2002 Volvo Ocean Race.Our AnnualReview carries pictures of the twoteams.The very essence of yacht racing withthe relentless demands of the oceanrelies upon the crew to operate asa team.Whether on a match racingcourse,in the midst of the
3、southernocean,or indeed in the world ofglobal finance individual efforts areeclipsed by the Power of Partnership.1IntroductionThe Financial Report 2001 forms an essential part of our report-ing portfolio.It includes the audited Financial Statements of UBSGroup for 2001 and 2000,prepared according to
4、 InternationalAccounting Standards(IAS)and reconciled to United StatesGenerally Accepted Accounting Principles(US GAAP),and theaudited financial statements of UBS AG(the Parent Bank)for2001,prepared according to Swiss Banking Law requirements.Italso contains a discussion and analysis of the financia
5、l and businessperformance of UBS Group and its Business Groups,and someadditional disclosures required under Swiss and US regulations.The Financial Report should be read in conjunction with the otherinformation published by UBS described on page 5.We hope that you will find the information in these
6、documentsuseful and informative.We believe that UBS is among the leadersin corporate disclosure,but we would be very interested to hearyour views on how we might improve the content and presenta-tion of our information portfolio.Mark BransonHead of Group CommunicationsUBS AGContentsProfileIntroducti