UBS chief says he’s had offers, but U.S. wealth business is not for sale
Despite recent speculation that UBS's wealth management business in the Americas is on the block, the Zurich-based bank's CEO today told the firm's financial advisers here today that the business is not for sale, according to a report from Dow Jones.
Despite recent speculation that UBS’s wealth management business in the Americas is on the block, the Zurich-based bank’s CEO today told the firm’s financial advisers here today that the business is not for sale, according to a report from Dow Jones.
In a memo that Dow Jones references, UBS’s chief executive officer Oswald Gruebel acknowledged that the company has had offers for the wealth management unit, but stated that “we have not taken any of them seriously,” according to the report, and added that the business is “not for sale.”
The memo was sent to address speculation in recent report that the unit was considered “non-core” and could be sold, according to the report.
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