UBS - what are you hearing?
What is the timing of a spin off?
In McCann's town hall meeting yesterday, he re-affirmed his and switzerland's commitment to WMUSA. He said there would NOT be a name change. There was no mention of a spin off. They will be investing more in technology--new things will rollout this year. He believes in open architecture, and thinks there is strength in having FA's with diversified businesses. Will focus developing HNW & UHNW clients. Will put iniatives in place to provide more support to FA's.
What did you expect him to do, get up in the Towne Hall meeting and announce that everyone in the audience should be aware that they are trying to sell them?
I am not at UBS (thank god) and know nothing about what is going on there, but don't take what management tells you as anything close to gospel
Lots of brokers leaving in the next few weeks at underperforming or soon to be shut down offices.... I know of 6 in my area alone, most are going to MSSB....heard they are still doing 200%