UBS in the Crosshairs

Is Herro looking to be a hero? The Times Online is reporting that Chicago-based Harris Associates has been building up a large position in the Swiss banking giant.  Critics of management’s strategic direction are pushing for the company to split off or spinoff its wealth management and investment banking divisions in order to unlock value.  And although David Herro might not be the one rattle the cage, UK hedge fund Lansdowne Partners is rumored to be building a stake as well. Shades of ABN AMRO?

American activist builds secret $1 bn UBS stake
Times Online

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