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Bank & Asset Manager - Operations and Strategy
FT: UBS Global Asset Management not for sale, chairman says
November 03, 2009 4:13 PM ET
By Zeeshan Zafar

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UBS AG unit UBS Global Asset Management Chairman John Fraser told London's Financial Times that the bank does not plan to sell its fund management arm, ending months of speculation about a potential transaction.

In a Nov. 2 news article, the newspaper revealed that UBS held talks with BlackRock Inc. about a possible sale of the unit in 2008 but ended the talks after Lehman Brothers Holdings Inc. collapsed.

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