“ Time only exists as a man-made UBS magazine invention. ” Ludwig Oechslin Watchmaker and universal scholar, page 6 “ If you like taking risks, build a new house; if you want to make a good investment, buy an old one. ” Philipp Hostettler Architect und old-building specialist, page 20 “ Discipline is not something that comes easy – you constantly have to work Watchmaker Ludwig Oechslin on hard to achieve it. ” time and no time. Mujinga Kambundji Swiss sprint record holder, page 36 TIME. How to measure, use and donate it. a b Collect points and benefit Summer 2015 Come on in! Time for you 4 Sending-and-requesting- money app “Time is money,” wrote 18th-century 5 A classic in a new look American statesman Benjamin 5 Fast and secure Franklin in his essay “Advice to 5 Numbers please! a Young Tradesman.” Given the Agenda: Time increasing pace of our business and 6 Time or no time? personal lives, this saying is truer 8 Jack of all trades today than ever. 9 Watch workshop Which makes giving your time 12 Switzerland ticks beautifully all the more valuable – like the Engagement students in the “ROCK YOUR LIFE!” 14 Donating time initiative who help youngsters with 15 Everything for education their schoolwork and job hunting. Money We are supporting this project as 16 It’s all in the timing part of the UBS Education Initiative. 17 Success strategy As technological change 18 Advice: the time factor speeds up, we need to recognize the signs of the times early on and Home ownership 20 Time travel renovations come up with good responses. 23 Financing 6 Here and now: watchmaker Ludwig Oechslin explains That’s why we’ve modernized our 300 branches in Switzerland Out and about why beautiful moments can’t be made longer. and invested in digital innovations. 24 The age of white gold This allows you to quickly take care 25 On tour of your simple banking business. UBS KeyClub But we’re not leaving you to 28 St. Beatus Caves grapple with complex issues alone. 30 Hotels We’re always happy to take the 32 Europa-Park 34 Sherpa Outdoor time for you. 38 Showcase to the KeyClub eStore 40 Mövenpick Wein 42 The rules Lukas Gähwiler, President UBS Switzerland AG 14 Time together, time donated 16 The futile hunt Subscribe to the UBS magazine newsletter and find useful information at for the right point ubs.com/magazine-e Nelly Rodriguez, illustration: Christophe Badoux Photos: Cédric Widmer, in time 2 Editorial 3 The sending-and- A classic in Fast and Numbers please! requesting-money app a new look secure time zones Beep – and your payment is made: If you drove around who hasn’t wished it went that Lake Constance in fast at the checkout? Hunting for 1890, you had to re- set your watch five coins and checking your change times for the different would be a thing of the past. time areas. Today, The good news is that contact- although China spans five time zones, it has More than less payment via credit and prepaid only one time, as the 2,000 facts: cards has been technically possible for government wants. “Switzerland some years. It’s convenient and safe: in Figures.” with UBS e-banking and mobile bank- ing, you can keep constant track of Whenever Switzerland, its cantons your payments. and its economy are in focus, it’s time How does contactless payment nanoseconds to consult the UBS booklet: “Switzer- work? You need a UBS credit or In 1971, US physicists land in Figures.” Generations of prepaid card bearing the icon with Joseph Hafele and As easy as texting: send money with school classes have looked up facts four waves. This symbolizes the Richard Keating flew around the world the new UBS Paymit app. and answered questions with it: contactless function. You also need with four atomic Which canton has the highest density to be at a checkout terminal set clocks, then compared of physicians, for example? Where up for contactless payments. You’ll them with an atomic Five pizzas, one check. Stressed waiter. So what’s the best way to split shared are the most cars? Which is the find these in more and more stores, clock at the Naval Ob- restaurant costs between friends? “Divide by five” is the usual pragmatic ap- industrial center par excellence? So including Coop, IKEA, Jumbo, servatory in Washing- proach. Now there’s an easier way: the new UBS Paymit app lets you send and students should know the economic k kiosk, McDonald’s, Migros, SBB ton. The physicists’ clocks were slightly request money free of charge – conveniently and securely via smartphone. You strengths and weaknesses of each and Starbucks. slower. They’d trav- could say it turns your mobile number into an account number. Just like swap- canton … Next time you’re at a checkout, eled into the future – ping text messages, friends can now send and ask each other for money: for Now a new edition of this look for the contactless-wave icon. for 60 nanoseconds. movie or concert tickets, a city break together, and much more. One pays the handy publication is being released in Hold the card close to the payment check and requests money from the others. German, French, Italian and English, terminal. For smaller amounts your with the latest figures and infor- purchase will be made instantly. Free for everyone mation. UBS’s economists have con- For larger amounts you’ll have to So what do you need to take advantage of this service? Just a smart- ducted meticulous research, just like enter a PIN. Beep – and your pay- Some 30 craftsmen phone with a Swiss mobile phone number, a Swiss bank account, and a credit the first time 52 years ago, and ment is made. in medieval costumes • have been building card or prepaid card from Visa or Mastercard. You don’t even have to bank compiled over 2,000 exciting facts. ubs.com/beep-contactless Guédelon castle in with UBS. The app can be downloaded and used within minutes completely Thanks to the strategic cooperation France for 18 years – free of charge. between UBS and Switzerland using tools from the The money sent is debited directly to a credit or prepaid card or, if you are Tourism, the booklet now includes times of the knights. a UBS customer, you can choose to debit your UBS personal account. For now new details on Switzerland as a The construction most likely won’t be Paymit only works for private individuals. But the goal is for the app to be used vacation destination. • finished before 2023. in businesses too. Looks like Paymit has good prospects of becoming the wallet Order a free copy of the publication of the future. • or a class set (please specify language and number) by sending an e-mail to Find out more at ubs.com/paymit [email protected] Illustration: Raffinerie AG Illustration: Raffinerie 4 Come on in! 5 Time or no time? Ludwig Oechslin, seen here at the International Clock Museum in La Chaux-de-Fonds, grapples with time as both a scientist and watchmaker. 6 Agenda: Time 7 Your inner clock? Other manufacturers need 30 to Watch workshop Nothing else! Curiosity wakes me. 50 parts. Time is a man-made Watch manufacturer I can time myself perfectly. Then I’ll Ochs und Junior invention says Ludwig wake up a quarter hour earlier. Do you feel the workday goes fast? strives to simplify That’s also fun. But my watch tells Oh, that depends. But you’re always mechanisms. CEO Beat me the precise time. I always in the present anyway. You can Weinmann, Ludwig Oechslin, master watch- Oechslin, programmer wear a prototype and test it. Ochs recall your whole history back to Cail Pearce, and maker and universal scholar. und Junior watches have to with- childhood in seconds, even if it lasted watchmaker Sandra stand everything, from wellness 60 years. What is fast, what is slow? Flück all work in Edith Arnold (text) and Cédric Widmer (photos) programs to business meetings. It is what it is. the watch workshop in Lucerne. Today you’re wearing an Ochs und What experiences made you what Visit the watch workshop Mr. Oechslin, what time are we Don’t we have to do everything Jack of all trades Junior “Moon Phase” prototype. you are today? at ubs.com/magazine-e living in? immediately and simultaneously What can we look forward to? My high school years in Immensee Ludwig Oechslin (63) As far as I know, in the 21st century, today? was born in Italy, stud- This model has an eternal calendar between 1968 and 1972 were in the year 2015. This is the time People see themselves as forced into ied classical antiquity, that needs to be set just once important. Everywhere was seething. we’re living in. this – due to the expectations we received a doctorate every 100 years. There are only nine We weren’t satisfied with the put on ourselves and others. After all, in physics, and trained mechanical parts besides the motor. first thing that came along, but really How do you know this? we want a certain standard of living, as a master watch- maker. He repaired a Time is simply a date, I don’t under- which has to be worked for. At the 300-year-old pendu- stand you. same time, we’re encouraged to con- lum clock at the Vati- sume. No one tries to break out can, taught as a pro- We always seem to be moving of the vicious cycle.