UBS Hires Lazard; Stock Up

Shares of UBS AG (UBS) were on the rise again after the New York Post reported that the Swiss  bank had hired Lazard (LAZ) to conduct a strategic review. The review by the financial advisory firm may be part of an annual internal review of its business lines, something UBS has focus more on after its credit-related losses, the newspaper said, citing unnamed sources.

Speculation is also centering on a possible split of the bank’s wealth management division and its investment bank, which some shareholders have pushed for.

UBS shares jumped on Tuesday on reports that Britain’s HSBC Holdings (HBC) may be eyeing a $80-billion takeover of its rival. A share price that had fallen to its lowest level since 1998 was also cited by traders.