Bob McCann new CEO of UBS

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Jul 10, 2009 5:17 pm

This was just reported on CNBC by Maria B. Can anyone confirm?

Jul 10, 2009 5:22 pm

McCann is one of 3 'likely' names mentioned.... would be a good on imho.

Here's the video from CNBC today:  http://www.cnbc.com/id/15840232?video=1178250623&play=1

Jul 10, 2009 5:30 pm

Thanks for that,  I only caught the part when she had Rich Bernstein on and he commenented about McCann as well.

Jul 10, 2009 7:19 pm

He might be the CEO of a company with no assets if the govt seizes UBS US asset's.

Jul 12, 2009 1:04 pm

does UBS have a ceo now?
 
isnt this a bit disrespectful to him?
Jul 12, 2009 7:12 pm

Did someone say Ed McMahon? 

Jul 12, 2009 7:22 pm

ed was following lennie dykstra's model 

Jul 12, 2009 7:25 pm

I have sent in a resume to be the next UBS CEO, but they haven't called me back.

Jul 12, 2009 7:33 pm

Jul 13, 2009 4:45 pm

Question about McCann... how will the rank and file and UBS view a guy like McCann? I ask because I had a buddy tell me today that he's very poorly viewed by those at UBS who came over from ML. I thought the opposite might be true.

Thoughts?

Jul 13, 2009 5:22 pm
burtonfinancial1:

Question about McCann... how will the rank and file and UBS view a guy like McCann? I ask because I had a buddy tell me today that he's very poorly viewed by those at UBS who came over from ML. I thought the opposite might be true.

Thoughts?

 
I talked with a ML transfer broker today, and his take is that most ML brokers have a very favorable opinion of McCann.
 
LA
Jul 13, 2009 10:55 pm

as someone who came over from ML to UBS in Q3 2008, I can say only say this: McCann, Gorman and other ML leaders have set the trend for the industry the past several years...and do you like how the industry has gone? If so, then you're a McCann fan...he'll do the same thing at UBS that he did at ML...bigger is better, and lower is less payout, no retention bonuses, and no consideration...which is what he put in place with the ML retention bonus - and guess what...EVERYONE ELSE FOLLOWED...he's a big name, and would change the UBS culture in a big way, let's just say that...

Jul 17, 2009 9:01 pm
JoeNatlanta:

as someone who came over from ML to UBS in Q3 2008, I can say only say this: McCann, Gorman and other ML leaders have set the trend for the industry the past several years...and do you like how the industry has gone? If so, then you're a McCann fan...he'll do the same thing at UBS that he did at ML...bigger is better, and lower is less payout, no retention bonuses, and no consideration...which is what he put in place with the ML retention bonus - and guess what...EVERYONE ELSE FOLLOWED...he's a big name, and would change the UBS culture in a big way, let's just say that...




 
Sounds just like Jim Hayes and his plans for Wach/Wells--another ex-Merill disciple.
More management, higher fees, lower payout, the company owns the relationship-not the broker.
Pretty soon all the majors will be identical. Totally destroy whatever legacy culture there is and make all of these companies a "model" of ML--a model which ain't that great, in my opinion. I hate it for the UBS guys, if thats the case.
Jul 19, 2009 6:13 pm
Lew Ashby:
burtonfinancial1:

Question about McCann... how will the rank and file and UBS view a guy like McCann? I ask because I had a buddy tell me today that he's very poorly viewed by those at UBS who came over from ML. I thought the opposite might be true.

Thoughts?

 
I talked with a ML transfer broker today, and his take is that most ML brokers have a very favorable opinion of McCann.
 
LA



Wow.

I think you'll find a lot of different opinions if you ask more ML or ex-ML guys.

Jul 20, 2009 10:36 am

Me thinks that the talk of seeking a new U.S. head is nothing but propaganda to ease the pain for the remaining FA's and also to possibly comfort all the big producers recently coming from ML. There is a major leak in the UBS Americas boat(fa's leaving every day) and Marty H. will go down with the ship.