The travails of UBS

Article Abstract:

UBS was created from the merger of Union Bank of Switzerland with Swiss Bank Corp. The new bank saw a drop in its stock price despite reporting a rise in profit in Mar 2000. The merger involved a move by SBC personnel to senior posts in UBS, effectively a takeover, and UBS faced problems due to poor risk management, which later emerged. Brinson Partners and Phillips and Drew, UBS' two asset-management companies, have lost investors and are to be combined. The private banking business has been affected by the poor performance of the asset-management business.

Swiss Bank Corp. (Switzerland), Union Bank of Switzerland

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A bank war in Warsaw

Article Abstract:

The Polish government is seeking to block a bank merger involving BRE, which is 49% owned by Commerzbank, and Bank Handlowy, which has JP Morgan as its main stockholder. The merger would allow the banks to cut costs, and is welcomed by ommerzbank and JP Morgan. The treasury ministry opposes the merger, as does PZU, and insurer. The two own a tenth of Handlowy and see the deal as a reverse takeover not a merger involving equals. They seek an exchange ratio for stocks that is more favorable to Handlowy.

Bank Handlowy, BRE

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A sorry way to sell a state

Article Abstract:

The collapse of the privatization of CIC exemplifies France's problems with privatization overall. Part of the reason CIC was not sold was due to the bank's financial problems, but much of it was also due to political conflicts and xenophobia, which can affect other privatization efforts.

Economic aspects, France, Privatization, Privatization (Business), Credit Industriel et Commercial

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