Bloomberg News ZURICH — Marcel Ospel, chief executive of UBS AG, says that — by contrast with past years — he feels calm about his banking company’s annual meeting in Gstaad, Switzerland, Jan. 18.

Mr. Ospel, 50, has good reason to tranquil. For the first nine months of 2000, UBS reported record net income of $3.8 billion — up 80% from a year earlier. On July 12, when it announced it was buying Paine Webber Group Inc., Wall Street’s fourth-largest broker, for $12.4 billion, Mr. Ospel gained a coveted foothold in the United States.

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