Is Wachovia Sec. going to UBS?

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Jan 29, 2009 5:41 pm

A rumor that I am hearing more about; is WFC going to sell Wachovia Sec to UBS?   I am hearing some chatter that WFC was searching for some $ and might be selling to the securities to UBS.   

Jan 29, 2009 5:58 pm

dont think WFC wants ws

UBS been buying brokers big time

waiting on retenetion

Jan 29, 2009 6:57 pm

if they do, they better plan on paying the AGE guys 400% upfront, they have already been through hell with Ludeman, Bagby and co.

Jan 29, 2009 7:06 pm

When and where did you hear that? 

Jan 29, 2009 7:21 pm

I knew about this several days ago and posted it on the 100+ page WS Retention (or lack of) thread. What I know is that UBS has had two bids for WS rejected and that there is no retention coming. It will come from the firm buying WS.

Jan 29, 2009 7:26 pm

I hope you are wrong...but I would not be surprised.   Ret coming by Thanksgiving...Christmas.....Here we are looking at Feb 1. UBS needs someone....ML/BAC   MS/SB   They are getting left in the dust.   I DONT think the AGE guys will stick if UBS becomes the head.

Jan 29, 2009 7:34 pm

If WS is purchased by UBS, whats the chances of UBS FA retention?

Jan 29, 2009 7:46 pm

I don't even want to have to think about UBS taking WS.  The UBS office here is collection of misfits and low producers who were exiled by other firms.  If this rumor becomes reality - our office will move collectively elsewhere.

Jan 29, 2009 7:48 pm

ha....that might be another 100 page thread. I just find it interesting that wfc was looking for money....might cut div. and now say that they are ok. Another STRETCH rumor was that they were looking to do some finc. from Capital Management (American Funds)around 15%, to add a little cabage a few weeks ago. I don't think it was a happy camp when wfc found out that they couldn't use the tax loss from WB. Just fishing to see if anyone has heard anything. These rumors seem FAR FETCHED but thought I would go fishing. I hope for my clients that this is NOT the case.

Jan 29, 2009 11:17 pm
Happy People:

I hope you are wrong...but I would not be surprised.   Ret coming by Thanksgiving...Christmas.....Here we are looking at Feb 1. UBS needs someone....ML/BAC   MS/SB   They are getting left in the dust.   I DONT think the AGE guys will stick if UBS becomes the head.

 
Happy
 
I guess you missed the 114 page thread of AGE people waiting for retention for 4 months.  They ain't going anywhere
Jan 29, 2009 11:45 pm

I would guess AGE brokers are waiting for March bonus checks.

Jan 31, 2009 12:13 am

Heard from a coach in mgmt. last week that ubs is planning on some sort of retention that is to be unveiled in the next week or so.