UBS will buy back bonds for $19.4b [Boston Globe]
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UBS will buy back bonds for $19.4b [Boston Globe]
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so… is there an over/under on when UBS breaks off the IB?
first
@9:33
You suck at life
You mean that highly valued portion of UBS? I can’t imagine…
@2 kick yourself in the balls
Is UBS finished?
UBS is paying Lazard to do a strategic review that will given them permission to shave off the IB. This objective opinion will save them the embarrassment of changing their minds about their vaunted “integrated business model.” Look for Lazard’s surprise results in October. Ho hum.
Too long, didn’t read.
#8 that gets funnier every time
cuomo, jr: a Spitzer in a tailored suit.
Where is UBS getting $19 billion from?
What about Morgan Stanley? Are they going to be on the hook as well?
How does this affect JPM/Lehman?
that’s pretty ironic considering that some pay good money to get reamed in the ass by cuomo.
NYC is so fucked.
Banned?
How would UBS go about selling or spinning off its IB division in times like now?
UBS will have to pay someone to take it. A little like giving an ugly daughter a big dowry to piss off and get married with whoever comes her way.
There will only be value if UBS can separate the FICC business from the Corporate Finance business and sell off the pure investment banking business sans the FICC business. I suspect Lazard was hired to come up with a way to restructure the IB business to enable a such a sale or spin-off in 2009.
UBS’s DCM, ECM, and M&A businesses are still performing strongly and will be a nice addition to the likes of HSBC, Santander, BNP, or Barclays.
But I can’t see UBS spinning off the i-bank to its shareholders due to the legal and accounting complexities of such a move. It also means UBS will have to tell the truth on the i-bank’s financial position. Furthermore, in the words of one Kennedy Thompson, existing UBS shareholders “have had all the fun they can take with investment banking” and want closure.
For this go to the Mountain(s?); 100 Hookers in Hedge Funds..or is it 100 Hedge Funds in Hookers?
Just hope there’s no truth to drg and orgy rumours involving mafiosi screaming from the pain of butt-plug insertions(not that there’s any wrong w banker-inserted butt-plugs, in Zurich..johhny F leading the charge
If,as stated, the IB Fucked wealth management clients up the Ass, what do you think the options are if they don’t want to disappear altogether. They are in big trouble not just because of Hew Jenkins but also John Fraser at Asset Management (clown city). Everyone should go…and the building manager can shut off the lights. Investors are such stupid MFs.
If I had had personal wealth with them, I would be lunching w lawyers all week long. Total pieces of shit.
And if Scoby gets divorced and Dudley gets another u kn wh ..they are fucked..even more, which it exactly what that co needs.