UBS moving toward split, says fund manager

"Forget what UBS is saying and look at what it's doing," says activist fund manager Eric Knight, believing it to be just a matter of time before the bank spins off its wealth management business.

Knight notes UBS's plan for a new corporate structure effectively creates a "good" bank for the wealth unit and a "bad" bank with investment banking and other non-core assets. While initially sold as an internal process, UBS has now announced an exchange offer under which it will swap shares into a new group holding company.

The move means the businesses could be more easily separated if one ran into trouble.

From other sites
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs