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Old 09.02.2010, 18:38
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Re: Swiss bank UBS returns to profit

No it won't go well. Here's why ....


Quote:
Feb. 9 (Bloomberg) -- UBS AG, the European bank with the biggest losses from the credit crisis, said withdrawals by wealthy clients accelerated in the fourth quarter even as the company reported its first profit in more
than a year.
The UBS Wealth Management business will continue to bleed clients and advisors, and the trickle will soon turn into a torrent... their brand has been irrepairably damaged, and its too late to even sell the business.

UBS will end up being sold off to CS or to a foreign bank.
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