UBS PaineWebber is a leading Wealth an Asset Management Firm of the world. They came into being after two companies - UBS and PaineWebber merged together in 2000 under the able leadership of CEO and Chairman, Donald Marron. PaineWebber and Company was originally a stoke brokerage firm that Swiss bank UBS AG acquired. Wallace G. Webber and William Alfred Paine founded the company originally in 1880. They even acquired a notable seat in New York Stock Exchange in 1890. However, after the business went through turmoil during a major financial crisis in 1893 a founder, Wallace G. Webber retired from it.