|
|
 |
|
Viewing report
|
|
|
|
Bulletin: UBS AG Ratings Unaffected By Surprise CEO Dismissal Jul 07
Standard & Poors, July 2007
Abstract
LONDON (Standard & Poor's) July 6, 2007--Standard & Poor's Ratings Services said today that its ratings on UBS AG (AA+/Stable/A-1+) were unaffected by UBS' decision to replace Peter Wuffli as CEO. UBS has stated that the decision was not due to strategic disagreements, and that second-quarter earnings will be broadly in line with market expectations. UBS has faced growing scrutiny in recent months due to the ill-fated Dillon Read Capital Management hedge-fund venture and cost increases in its investment bank, coupled with some high-profile departures. The strength, diversity, and quality of groupwide earnings remain supportive of the current ratings, however. Marcel Rohner, the new CEO, has performed well as head of UBS' market-leading wealth-management business. Succession should therefore be relatively...
Companies mentioned in this report are: UBS AG
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
|
|
|
|
