Bank to Wuffli: Not You & US

摘要

Huw Jexkivs has had to givernan unusual number of motivational speeches lately. In mid-March the CEO of UBS's investment banking arm took the floor in London to assure an assembly of bankers not to worry: Despite the likely resignation of key rainmaker Kenneth Moelis following the departure of several of his closest aides, the Swiss bank remained committed to serving lucrative private equity clients. Then in May, Jenkins was at it again, pledging to traders in New York that UBS, under CEO Peter Wuffli, was still devoted to bond trading, even as he broke the news that its internal, debt-focused hedge fund was being shut down after big losses, forcing the exit of John Costas, Dillon Read Capital Management's chief.