Bär & Karrer Advised UBS on its Shared Services Transfer to UBS Business Solutions AG

Through a series of transactions which were completed for the most part in early June, UBS AG and other UBS group companies transferred group shared services functions, which are mainly based in Switzerland, in the UK and the US, to UBS Business Solutions AG and other related service companies. UBS Business Solutions AG now operates as the group service company of UBS and is a wholly owned subsidiary of UBS Group AG. The implementation of UBS Business Solutions AG enables UBS to maintain operational continuity of critical services should a recovery or resolution occur. It represents an important step towards improved resolvability, and is in line with global guidance defined by the Financial Stability Board.

Bär & Karrer AG acted in this transaction as lead external advisor with respect to all relevant legal, regulatory and tax issues in close cooperation with the project team and the legal and tax departments of UBS. The Bär & Karrer team included Urs Kägi and Peter Hsu (both M&A, Corporate and Commercial Law, Banking and Regulatory), Rolf Watter, Daniel Küpfer, Nadina Duss, and Cyrill Tschudin (all M&A, Corporate and Commercial Law) Daniel Flühmann (Banking and Regulatory), Markus Wang (IP), Susanne Schreiber, Corinna Seiler and Laurent Riedweg (all Tax) as well as Daniel Hochstrasser and Isabelle Oehri (both Litigation).