1912 - 1928

Breakdown of the gold standard.

The 82 km long Panama Canal opens.

The first World War breaks out on 28 July.

Union Bank sets up a Pension Fund for its employees, 30 years before the introduction of the Federal Social Security Law (AHV) in Switzerland.

Union Bank opens its new building at Bahnhofstrasse 45, Zurich ("Münzhof"), today UBS's head office.

Revolution erupts in Russia and the Tsarist regime tumbles.

Charlie Chaplin, the English comic actor, film director and composer of the silent film era, enjoys global popularity.

From 1918 Union Bank conducts all its Board of Directors meetings in Zurich.

Total assets

Shareholder Equity

Net Profit

World War I ends. Switzerland had remained neutral and politically stable during the war. However, at the end a general strike rocks the country, resulting in a number of casualties.

The German Republic is created following the abdication of the German Emperor, later to be known as the Weimar Republic.

Foundation of Yugoslavia and Czechoslovakia.

The Peace Treaty of Versailles is signed.

The League of Nations, forerunner of the United Nations, is founded with headquarters in Geneva.

SBC employs more than 2,000 people while Union Bank employs over 1,000.

Number of Employees

Union Bank acquires Banca Svizzera-Americana (founded in 1896), establishing a foothold in the Italian-speaking part of Switzerland.

First traffic light worldwide installed in Detroit.

SBC celebrates its 50th anniversary. To mark the occasion, each of its 2,200 employees receives a Swiss pocket watch made by Zenith. The gift provides valuable support to the Swiss watch industry during its crisis in 1921, caused by a breakdown of exports to the United States.

Mussolini erects a fascist dictatorship in Italy.

In the United States, Walter Elias "Walt" Disney founds Walt Disney Productions.

Union Bank opens a branch in the Swiss capital of Berne.

Hyperinflation hits Germany, resulting from war bonds and reparation payments, wiping out cash savings of the German population.

In New York, Dillon Read launches the first post-war closed investment fund. The firm's roots date back to 1832 when its antecedent, Carpenter & Vermilye, was founded.

Death of Lenin, first leader of the Soviet Union.

Alfred Joseph Hitchcock, the British filmmaker and producer, enjoys his first success.

Hugo Boss launches his clothing company in Metzingen, a small town south of Stuttgart.