UBS Is Leaking Like A Sieve
There's a hardcore publicity campaign going on from within UBS to spread the word that investment bank President Ken Moelis is "preparing" or "threatening" to leave. This morning the story popped up in DealBook. Now it's on Deal Journal. Clearly, somebody is getting the message out that Moelis isn't happy.
So the questions are: who and why? All the leaks seem to come from what you might call the "Moelis militia" if you were given to a lot of alliteration. They're friendly to him. Certainly, a fair reading of the stories could be that they are a shot across the bow of the bank's Swiss management, warning them to get with the Moelis love or lose him forever.
Watching executive wars played out through press leaks is as much a Wall Street tradition as a Washington, DC one. Interestingly, this seems to be the first time that such a war is playing out on "blog time" and on the pages of the new blogs of the New York Times and the Wall Street Journal.
Moelis Era at UBS May Be Coming to a Close [Deal Journal]
