UBS, Knight Vinke To Meet

May 24 2013 | 12:40pm ET

A top UBS executive is set to meet with the activist hedge fund seeking the spinoff of its investment bank.

CFO Tom Naratil will meet with Knight Vinke Asset Management next week, The Wall Street Journal reports.

Knight Vinke in May argued that UBS' investment-bank should be spun-off from its Swiss banking and wealth management business. The hedge fund said it "questioned the merits" of keeping the businesses "under the same roof" and suggested that the investment bank's employees and management might be its best owners.

"The investment bank has delivered a good set of results for the first quarter of 2013 but nearly destroyed UBS in 2007-09," Knight Vinke wrote. "Investment banking is a very risky business and these risks pose a serious threat to UBS' wealth management and Swiss banking franchise."

Knight Vinke owns just under 1% of UBS.


In Depth

Q&A: Old Hill's Stone On Private Debt, P2P And Credit Bubbles

Jun 6 2017 | 7:52pm ET

While institutional capital continues to flow into the broader private debt sector...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: Asia-Focused Hedge Funds Offer Great Opportunities

Jun 23 2017 | 3:33pm ET

Emerging market strategies have outperformed their developed-market peers for five...

 
Error

From the current issue of