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                                                          Exhibit 23.6


                        Consent of Independent Auditors

We consent to the reference to our firm under the caption "Experts" and to the
use of our report dated January 31, 2000, with respect to the consolidated
financial statements of Paine Webber Group Inc. included in the Post-effective
Amendment No. 3 to the Registration Statement (Form F-1 No. 333-46216) and
related prospectus of UBS AG for the registration of Noncumulative Trust
Preferred Securities.


                                               Ernst & Young LLP


New York, New York
November 9, 2000