UBS Banking on Formula 1 Partnership
Coinciding with the launch of a new global ad campaign, UBS and Formula 1 today announced that they have signed an agreement for UBS to become a Global Partner of Formula 1. The partnership will kick off at the 2010 Formula 1 Singtel Singapore Grand Prix, which runs from 24 to 26 September, 2010.
With 19 events in 18 countries, Formula 1 has a strong presence and following in many of UBS’s key growth markets such as Asia, Middle East and Latin America. After a comprehensive evaluation of the benefits, and a comparison with other forms of brand awareness and hospitality, UBS came to the conclusion that Formula 1 fit well with the company’s global footprint and business strategy.
“UBS has been searching for a global sponsorship platform that has appeal to our clients, promotes our brand globally and makes good commercial sense," Oswald Grübel, UBS Group Chief Executive, said. "Our new partnership with one of the largest and most popular sporting organizations in the world will fulfil all these criteria, and it constitutes a key element of our newly launched branding activities. The global reach of F1 complements the many local activities we support."
“UBS is a global company where performance, teamwork and superior execution are integral to their clients’ success," Bernie Ecclestone, Group CEO of Formula 1, said. "These values complement those of Formula 1 and I’m delighted to welcome UBS to Formula 1.”
UBS joins DHL, LG and G.H. Mumm champagne as Formula One global partners.