Swiss Bank UBS has signed one of the biggest
sponsorship deals of the year, teaming up with the organisers of
motor racing’s Formula 1 (F1) championship.
The agreement will formally launch at the
Singapore Grand Prix at the end of September.
Go deeper with GlobalData
The duo did not disclose how long the
agreement would last but UBS said it is a “long-term
partnership”.
Unusual timing
The timing of the deal will raise eyebrows as
UBS battles to restore its battered image following a worrying
outflow of client assets in the past 18 months and after wrangles
with US authorities over the tax information of 4,450 US
clients.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUBS has also slipped behind Morgan
Stanley-Smith Barney to become the world’s third-largest wealth
manager in PBI’s analysis of company half-year
results.
UBS shed more than CHF101bn ($98bn) in client
assets in the 2009 financial year, although the outflow rate has
slowed in the six months to 30 June.
The F1 deal is designed to promote UBS in its
key growth markets in regions such as Asia, the Middle East and
Latin America.
‘We Will Not Rest’
UBS did not reveal the cost of sponsoring the
sport, but it is said to be worth tens of millions of dollars per
year.
Oswald Grübel, UBS group chief executive,
said: “UBS has been searching for a global sponsorship platform
that has appeal to our clients, promotes our brand globally and
makes good commercial sense.”
The announcement coincided with the launch of
a new ad tagline ‘We Will Not Rest’, replacing UBS’ longstanding
‘You & Us’.
The campaign features people who have achieved
“greatness” including Steve McQueen, Mohammad Ali and Sir Edmund
Hilary and claims that UBS “are the achievers behind the
achievers”.
It will run across online, television and
print channels.
