The news comes just a day after the bank launched a global campaign to regain trust among its most important clients.
On Sunday, 22 August, in Switzerland, the bank embarked in a global rebranding drive with a new, reportedly multi-million pound, advertising campaign.
The partnership with Formula 1, meanwhile, will be formally launched at the 2010 Singtel Singapore Grand Prix, which takes place from 24 to 26 September.
The agreement follows a comprehensive evaluation of the commercial benefits of all global sponsorship properties by UBS.
The bank says the deal makes “good commercial sense” given that Formula 1 is a year round, highly visible, and popular sport with an especially strong presence in many of UBS’s key growth markets such as Asia, Middle East and Latin America.
The long-term partnership will also provide “excellent branding and hospitality opportunities” that fit with UBS’s global footprint and business strategy.
Oswald Grübel, UBS group chief executive, says: “We’ve been searching for a global sponsorship platform that has appeal to our clients, promotes our brand globally and makes good commercial sense.
“Our new partnership with one of the largest and most popular sporting organizations in the world will fulfil all these criteria. The global reach of F1 complements the many local activities we support.”
The deal also constitutes a “key element of our newly launched branding activities”, he adds.
The new campaign, devised with advertising agency Publicis, loses the “you and us” strapline in favour of the claim: “we will not rest”.
Geared towards rebuilding trust among the bank’s customers – UBS was one of the banks hardest hit by the credit crisis – the television, online and print campaign focuses on famous individuals who reached their goals through dedication and determination but also thanks to the support of teams. This includes former astronaut Neil Armstrong.
But the campaign also has an internal element, with a personal declaration on the group’s website from Grübel, aimed at UBS’s staff following the a tumultuous couple of years.
The campaign will arriving in the rest of Europe at the end of this month.