From Deseret News archives:
UBS Bank sponsors the Utah Symphony
Investment banking and securities firm UBS has formed a new partnership with the symphony that will give the state's premiere performing-arts organization financial viability and stability.
The partnership is "one of the most exciting opportunities for us," said Anne Ewers, Utah Symphony & Opera CEO. The announcement was made during a news conference Wednesday in Abravanel Hall. Also in attendance were the symphony's music director Keith Lockhart and Ray Dardano, president and CEO of UBS Bank USA.
With corporate offices in Zurich and Basel, UBS operates in more than 50 countries and has more than 66,000 employees worldwide. In the United States, UBS is one of the largest private-client businesses with a client base of more than 2 million.
In Utah, UBS has about 80 employees through its partner company UBS Bank USA. Most of them work in Salt Lake City. There is also a smaller office in Ogden.
UBS will be the season sponsor of the Utah Symphony, beginning with the current season, which begins Friday. Concertgoers will see the UBS logo on brochures and programs immediately. The partnership will last until the end of the 2006-07 season.
While not disclosing any specific monetary amounts, Ewers said that the annual contribution will range in excess of $1 million.
What distinguishes this financial partnership from others is that the amount of money UBS has pledged to support the Utah Symphony is based on a market- and value-received concept. "This concept is extremely new to us," Ewers said. "It's based on what the value of your logo is on an organization's banner or brochure." She said that there is a company in Chicago called IEG which solely does these kinds of evaluations. "They found out what we are offering is worth."
Ewers said that this sponsorship concept is new to most performing-arts organizations. "It basically evaluates what a company's logo value is on the market."
UBS has similar partnerships with the Ravinia Festival, the Boston Symphony and the Philadelphia Orchestra. <"You've got to find new ways to support an organization, and this opens up some tremendous potential," Ewers said.
Lockhart said that having a three-year commitment from UBS is particularly helpful. "A gift like this isn't just a single million-dollar spike. The hardest thing to get is major ongoing support that will fund your ongoing existence."
Dardano said supporting the Utah Symphony is also beneficial to his company. "It gives us exposure being associated with a wonderful organization like the Utah Symphony." He said that UBS has been in Salt Lake City for 40 years and the company has always supported organizations in communities where its employees live and work.
