UBS plans ad campaign to woo back clients

ZURICH, Aug 20 (BestGrowthStock) – Swiss bank UBS AG (UBS.N: )
(UBSN.VX: ), which was bailed out by the government during the
financial crisis, is launching an advertising campaign to woo
back clients after posting strong results earlier this year.

Print advertisements will show the footprint of astronaut
Neil Armstrong and other motifs and will begin running across
Europe and Asia in late August, according to preview materials
distributed by the bank.

An advert for UBS in Switzerland shows a black-and-white
photo of architect Le Corbusier holding his head with the
captions: “Because we’ve drawn a clear line” and “We want to
deal with our past and look with confidence into the future”.

UBS is trying to rebuild its once powerful brand after
massive investments in risky U.S. assets forced it to make more
writedowns than any other European bank. Its troubles also
prompted clients to withdraw their funds.

But thanks to strong equities and currency revenues, UBS
posted forecast-beating second-quarter earnings, while client
money withdrawals fell to their lowest level since early 2008.
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The bank’s last major ad campaign was about two years ago, a
spokeswoman said. The adverts will also appear in the United
States, where UBS stood accused of having helped wealthy
Americans dodge taxes.

In order to avert a U.S. court case, Switzerland and UBS had
to promise in August 2009 they would disclose bank information
about 4,450 U.S. holders of UBS accounts who were suspected of
tax evasion.

The Swiss-U.S. deal over UBS broke Swiss law and Berne had
to design a legal patch to bypass its own system that struggled
to win Swiss parliament approval.
(Reporting by Catherine Bosley; Editing by David Holmes)

UBS plans ad campaign to woo back clients