1. Wealth
March 16, 2010

FT: UBS was Barclays’ first target

By Spear's

UBS, one of the banks hit hardest by the financial crisis, was Barclays’ preferred merger target only weeks before it acquired the US assets of a stricken Lehman Brothers, the Financial Times has learnt.

UBS, one of the banks hit hardest by the financial crisis, was Barclays’ preferred merger target only weeks before it acquired the US assets of a stricken Lehman Brothers, the Financial Times has learnt.

Speculation over Barclays’ interest in UBS and Lehman circulated in the early summer of 2008 but was not confirmed.

Senior executives at Barclays Capital, Barclays’ investment banking division, presented UBS as a favoured option, ahead of Lehman, at a July 2008 board meeting, say current and former directors.

To read the full story, visit ft.com

Content from our partners
How Guernsey’s private trustee structures can protect assets 
Luštica Bay: The Adriatic's most coveted address
AI, growth and public policy: What is the future for Britain?

Websites in our network