UBS appoints Dr. Armen V. Papazian as Head of Islamic Finance

Notes and media contacts

About UBS and Islamic Finance:

A UBS-led Islamic bond picked up awards in two key industry publications. The US$300m offering for Maybank Sukuk Inc last year was named "Best Sukuk Deal of the Year 2007" by Euromoney and "Best Malaysia Deal 2007" by the Redmoney Group publication Islamic Finance News. The deal was the world's first international subordinated bank capital issue in the form of a sukuk (an Islamic bond). It received an overwhelming response from international investors - both Islamic and conventional.

In 2006, the groundbreaking UBS-led exchangeable sukuk for Khazanah picked up multiple awards from Euromoney, the Redmoney Group, Finance Asia and The Asset.

About UBS in the Middle East:

During 2007 UBS took significant steps towards expanding its Middle East operations to accelerate growth including the appointment of Per Larrson as CEO for UBS in the Middle East, receiving conditional authorisation to set up in the Kingdom of Saudi Arabia, selecting Mohamed Sammakia as CEO for UBS Saudi Arabia, receiving authorisation to operate in Qatar, and expanding its Investment Banking Division and Equity Research teams based in the DIFC.

Other recent developments in the region include UBS Global Asset Management joining forces with Abu Dhabi Investment Company in February 2008 to form a 50/50 joint venture to develop, promote, and manage infrastructure funds focused on the MENA region. Later in the year, UBS Global Asset Management also joined forces with MerchantBridge to form a 50/50 joint venture called MerchantBridge-UBS Private Equity to develop and manage a series of private equity investment strategies focused in the Middle East.

Media contact:

Hana Dunn (née Irani)
Director
Media Relations
UBS AG
6 Broadgate
London
EC2M 2AG
Tel: 0207 568 9822