1. Formerly, UBS was the abbreviation for Union Bank of Switzerland AG, but, after its 1998 merger with Swiss Bank Corporation (SBC), the firm's name became UBS AG.
2. For more information on these causes, see Chapter 3, Swiss Banking Secrecy. See also Robert U. Volger Swiss Banking Secrecy: Origins, Significance, and Myth (Zurich: Association for Financial History [Switzerland and Principality of Lichtenstein], 2006)
3. Swiss Bankers Association Compendium 2010-The Swiss Banking Sector , (Basel, April 2010), 9 www.swissbanking.org/en/kompendium-2010.pdf (accessed June 15, 2012)
4. The compound annual growth rate of Switzerland's banking industry between 1960 and the end of 2006 was 9.1 percent, indicating that the 2007 to 2009 financial crisis, and its aftermath, contributed to a 1.2 percent average annual downturn in asset growth. Ibid., 8.
5. Tourism had the second largest surplus (an average of CHF 2.66 billion). Swiss National Bank, Swiss Balance of Payments Q4 2011 and Review of the Year 2011 17, Table 1.1 www.snb.ch/ext/stats/bopq/pdf/en/bopq.book.pdf (accessed June 15, 2012)