Together, we can make a difference

Dear all,

I've received a lot of inquiries about what we're doing to support our clients, employees and communities in these challenging times. Here's a message I sent to the entire UBS team this morning outlining just that.   

Stay safe,

Sergio

A message to UBS employees

Dear colleagues,

At the beginning of the current coronavirus (COVID-19) outbreak, our main focus was on safeguarding your wellbeing, serving clients and maintaining operational continuity. The ensuing pandemic has caused a public health crisis and economic shock that is putting strain on the whole of society. The scale of this challenge demands a huge collective effort and we, as a firm, are strongly committed to playing our part. Our business model is designed to perform well even in very challenging market conditions, making us well prepared for the current environment and able to continue taking appropriate and measured action in the interests of all our stakeholders.

Our Pillars, Principles and Behaviors help us achieve our vision and execute our strategy. And it's our Pillars that form the foundation for everything we do. You've heard me talk time and again about the first of those Pillars – capital strength. For good reason. Now, in this time of great need and uncertainty, it's exactly this capital strength that will enable us to weather the storm, preserve jobs, and help our clients and the communities in which we live and work. Why? Because it allows us to lend support and be part of the solution in the following ways.

Our commitment to clients

Our clients count on us, and we're seeing that client demand for solutions and advice has never been stronger. It's more important than ever before that we deliver one UBS to our clients around the globe as they look to us for investment opportunities, lending solutions and more. One example of this can be seen in Switzerland, where we've already provided 10,000 small and medium-sized firms with over CHF 1 billion in liquidity as part of an emergency lending program. We expect this to continue in the coming days. We'll also continue working with our individual, corporate and institutional clients around the world to provide significant amounts of lending.

Our commitment to employees

Uncertainty seems to be the one thing that's certain right now. The pandemic affects how we work, and how we interact as a team and with our clients. It also greatly impacts our personal lives. I want to remove at least one uncertainty and tell you this: already a few weeks ago I suspended any new restructuring activities. This includes a suspension on newly communicated job redundancies that will stay in place until the situation normalizes. When the crisis abates, we – like every business around the world – will review our plans and priorities. But please know that your job is safe during this crisis. What I ask of all of you in return is to continue stepping up and staying close to clients and supporting them through these challenging times. I also ask you to support where your expertise is needed most, and to continue to make use of internal mobility and development opportunities.

Our commitment to communities

I strongly believe that we – as a firm with a long history of doing well by doing good – also have an important role to play in being part of the solution to this global health emergency. Last week, we announced we would contribute USD 30 million towards global and local coronavirus (COVID-19) aid projects. As part of this commitment, we'll contribute to response programs that aim to protect the world's most vulnerable groups, support healthcare workers and systems, and prevent the virus from spreading further. Some of the trusted partners we'll be working with to support front-line health care services in all of our regions and beyond, include Americares, Beijing United Charity Foundation, Médecins sans Frontières, and the Swiss Red Cross. In addition, we'll provide funding to organizations addressing acute local community needs such as food insecurity and to existing partners to ensure they maintain their operations and stay solvent in this challenging environment. Additionally, any profits made out of the abovementioned Swiss emergency lending initiative will go into a fund that will provide aid to various projects in Switzerland. 

Your personal contribution

Some of you have written to me asking how you can contribute personally to coronavirus relief efforts. I believe every one of us can make a difference, whether through financial means or by donating time. Here are a few ways that you can get involved. 

I'd encourage you to support our UBS Optimus Foundation wherever you can, and make our clients aware of the opportunity to do so too. 100% of donations go directly to our selected programs, and the USD 30 million commitment will also ensure that every client and employee donation made through Optimus can be matched. In some of our hardest-hit locations, Community Affairs may offer additional giving or volunteering opportunities. While many of our community partners are adjusting their programs to ensure social distancing, you'll be kept up to date on local initiatives and ways to get involved. And, finally, if you're looking for a way to connect with loved ones, you can share a #TOGETHERBAND by post or give a gift certificate online. Between now and the end of April, sales proceeds will go towards providing much-needed resources for the World Health Organization's COVID-19 Solidarity Response Fund and Médecins Sans Frontières. Below you can find out more about the various ways to contribute.

Your outstanding collaboration and commitment over the past few weeks demonstrates how strong we are when we work together – even when we're sitting apart. On behalf of the Group Executive Board, I'd like to thank you for everything that you're doing in these challenging times and for joining forces to protect our firm, serve our clients and support each other and our communities. I wrote earlier that we can each make a difference; together we make a much bigger difference.

Stay safe,

Sergio

More information

• UBS Optimus Foundation
• $30 million commitment and Swiss lending program
• UBS is well prepared to face the challenges ahead
• #TOGETHERBAND

?#shareUBS