1
                                                                    EXHIBIT 23.6




                         Consent of Independent Auditors


We consent to the reference to our firm under the caption "Experts" in the
Post-Effective Amendment No. 6 to the Registration Statement (Form F-3 File Nos.
333-46216, 333-46216-01 and -02) and related Prospectus of UBS AG for the
registration of Trust Preferred Securities and to the incorporation by reference
therein of our report dated 31 January 2000, with respect to the consolidated
financial statements of Paine Webber Group Inc. included in Form 6-K filed with
the Securities and Exchange Commission.





                                        Ernst & Young LLP



New York, New York
15 May 2001