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<PAGE> 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. included in Pre-effective
Amendment No. 1 to the Registration Statement (Form F-1 No. 333-46930) and the
related prospectus of UBS AG for the registration of Medium Term Notes.
ERNST & YOUNG LLP
New York, New York
November 9, 2000
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