1
                                                                    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. in Post-Effective Amendment No.
2 to the Registration Statement (Form F-1 No. 333-46930) and related Prospectus
of UBS AG for the registration of Medium Term Notes.


                                                           /s/ Ernst & Young LLP


New York, New York
March 29, 2001