The FINANCIAL -- UBS's Annual Report for 2012 provides comprehensive information on the
firm, its strategy, business, governance and financial performance.
It contains both audited and unaudited information. It consists of five sections:
Operating environment and strategy: This section provides a description of UBS's strategy and business divisions, and the factors affecting UBS and its business model, including market climate, industry drivers, regulatory developments and risk factors. It also includes information about the regulatory structures applicable to UBS.
As UBS said, financial and operating performance: This section outlines the performance of UBS Group and of each business division for the past two calendar years, as well as the performance of Corporate Center, which includes UBS's Group-wide shared services and control functions.
Risk, treasury and capital management: In addition to outlining the principles by which UBS manages and controls risk, this section covers developments during 2012 in the areas of credit risk, market risk, operational risk and treasury management including capital, liquidity and funding management. It also contains comprehensive quantitative and qualitative Basel 2.5 Pillar 3 annual disclosures, as well as information on UBS shares.
Corporate governance, responsibility and compensation: This section provides information about UBS's governance structure and sets out the guiding principles that govern compensation plans, as well as details of the compensation of senior management and the Board of Directors. It also discusses UBS's standards for corporate behavior and responsibility, outlines demographic trends in the firm's workforce and describes how personnel is managed and developed.
Financial information: This section comprises the audited consolidated financial statements of UBS Group for 2012 including comparative data for 2011 and 2010, prepared according to International Financial Reporting Standards (IFRS). It also contains the audited financial statements of UBS AG (the parent bank) for 2012 including comparative data for 2011, prepared according to Swiss Federal banking law. Additional disclosures required by Swiss and US regulations are included as appropriate.