Say goodbye to "Paine Webber." UBS PaineWebber today became just UBS as UBS AG formally dropped the famous moniker from its U.S. operations. The Swiss bank will start marketing the new name in the fall.

The PaineWebber name dates back 123 years to 1880 when the firm was founded by William Paine and Wallace Webber in Boston. Still, that is not the oldest name that UBS is dumping. Also dropped this morning was the 141-year-old Warburg name UBS used in its London-based operations. 

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