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Thursday, November 01, 2018|
Will This Multinational Bank Buy a Retail U.S. Asset Manager?
A European, multinational financial services may be on the hunt for asset managers on both sides of the pond.
UBS already has asset management business operations, with a notable presence in Chicago. And it also has a U.S. wealth management business, one of the industry's four wirehouses.
Ulrich Koerner, president of UBS' asset management arm worldwide, reportedly hinted last week (at UBS' investor day in London) that UBS might be able look at M&A again now. At that event, he described asset managers with between 50 billion Swiss francs ($49.85 billion) and 500 billion Swiss Francs ($498.5 billion) in AUM as being likely targets for acquirers.
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