1
                                                                    Exhibit 23.6


                        Consent of Independent Auditors



We consent to the reference to our firm under the caption "Experts" in the
Pre-Effective Amendment No. 1 to the Registration Statement filed on Form F-3
(File No. 333-64844) and related Prospectus of UBS AG for the registration of
Debt Securities and Warrants 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
29 August 2001