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Wells Fargo's Abbot Downing targets ultrawealthy
The firm is wooing a very rarefied group: the 10,000 U.S. households that have at least $50 million in investible assets and together control more than $1 trillion.
BofA Merrill hires UBS banker Wilmot-Sitwell
Wilmot-Sitwell's appointment as president of Europe and Emerging Markets, excluding Asia, at BofA Merrill came barely a month after the U.S. firm lost dealmaker Andrea Orcel to UBS, which he will be joining as co-head of the investment bank. Wilmot ...
UK court stays proceedings where wrong party sued in Italian proceedings
In a recent case, UBS Limited and UBS AG v Regione Calabria [2012] EWHC 699, the UK Commercial Court stayed two English claims, pursuant to Articles 27 and 28 of the Brussels Regulation (44/2001).
Rand Paul Seeks to Block Tax Treaty Change on Swiss Accounts
The U.S. is cracking down on secret accounts held by its citizens at UBS AG, Credit Suisse AG, Wegelin & Co.
BTG Pactual raises $1.96 billion in Brazil IPO
Esteves, a 43-year-old mathematician who started as a computer technician at Banco Pactual at 21, rose to become managing partner and sold the bank to UBS AG UBSN.VX in 2006 for $3.1 billion. He and some partners bought back Pactual for $2.5 billion ...
Optical Delusion? Fiber Booms Again, Despite Bust
Some 19 million miles of optical fiber were installed in the U.S. last year, the most since the boom year of 2000, research firm CRU Group says. Corning Inc., GLW 0.13 % a leading maker of fiber, sold record .... UBS AG analyst John Hodulik, who ...
CWCapital Selling $345 Million of Distressed Real Estate Debt
“Funds have raised a significant amount of capital to buy a tsunami of distressed debt,” according to Harris Trifon, a commercial-mortgage debt analyst at Deutsche Bank AG. “That tsunami never came. There is a lot of ... The central bank's credibility ...
King's Elephant Hunt is Disgrace to Humanity: Commentary
It's been a terrible week for King Juan Carlos of Spain and, more importantly, for elephants. The 74-year-old potentate broke his hip trying to slaughter elephants on a hunt in Botswana.
Fenway Park at 100 Doubles Revenue as Red Sox Seek More Profit
Boston Red Sox owner and hedge fund manager John Henry has done what his predecessors said couldn't be done with Fenway Park, which celebrates its 100th birthday today as the oldest stadium in Major League Baseball.