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  1. Wealth
February 5, 2009

WSJ: UBS looking to sell US WM business

By Spear's

UBS AG is shopping around its U.S. wealth management business to a number of suitors as part of a global repositioning of the beleaguered Swiss bank, according to people with direct knowledge of the matter.

From the Wall Street Journal:

NEW YORK — UBS AG is shopping around its U.S. wealth management business to a number of suitors as part of a global repositioning of the beleaguered Swiss bank, according to people with direct knowledge of the matter.

The Zurich-based bank has held talks with Morgan Stanley and Wachovia Securities about a potential deal late last year, the people said. UBS has also approached other big U.S. banks like J.P. Morgan Chase & Co. and Bank of America Corp. to gauge interest in a combination.

To read the whole story, visit wsj.com

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