UBS Denies Hedge Fund, Private Equity Report

Oct 25 2011 | 8:53am ET

UBS has denied a report that it could cut two of its largest alternative investment businesses.

According to Reuters, the Swiss bank is mulling a plan that would do away with its its private equity placement business and UBS-O'Connor, its asset management business' hedge fund arm, as it seeks to scale back its operations in the wake of a US$2.3 billion rogue trading scandal. The bank may also reduce its presence outside Europe, including in the United States.

But UBS spokesman Torie van Alt called dismissed the report as "rumors" that are "categorically untrue."

"We are not closing either our Private Funds Group or O'Connor business."

In Depth

Financial Industry Blockchain Consortium R3 To Open-Source Platform Code

Oct 20 2016 | 9:03pm ET

Bitcoin's blockchain technology has spawned a flurry of activity among fintech startups...


U.S. Trust's Beard: The Rapid Growth of the Art Lending Industry

Oct 7 2016 | 10:55pm ET

Alternative investment managers have emerged as some of the most significant art...

Guest Contributor

Hedge Fund Marketing – Tips for Your Initial Sales Meeting

Sep 29 2016 | 5:46pm ET

There are two main goals a hedge fund should have for an initial in-person sales...