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Editorial: will UBS sell its Asia investment banking unit?

February 13, 2009  

From Richard Morrow

The bank needs to make money and fast to placate its shareholders as well as the Swiss government. Were UBS to put its highly rated investment banking operations up for sale, its Asia-Pacific unit would be sure to attract the interest of rivals with regional aspirations. Standard Chartered, HSBC and Barclays spring to mind.

As Switzerland’s two biggest banking groups announced their annual reports for the most dismal financial year in living memory, the news looked uniformly depressing.

UBS was first, announcing a fourth quarter loss of SFr8.1 billion (US$6.98 billion) on February...


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 LOCAL CURRENCY DCM

Rank Bookrunner Value ($m) No. %Share
1 Samsung Securities Co 1,079 13 4.8
2 China Development Bank Corp 1,066 3 4.8
3 KB Financial Group Inc 1,052 10 4.7
4 Daewoo Securities 950 8 4.2
5 Korea Investment & Securities 865 14 3.9
6 Woori Investment & Securities 854 12 3.8
7 SK Securities 758 8 3.4
8 CITIC Securities 686 2 3.1
9 Dongbu Group 650 10 2.9
10 Haitong Securities 649 2 2.9
Subtotal 8,609 70 38.4
Total 22,396 168 100.0

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