In case you were wondering (and/or also heard the rumors), Bob McCann, the chief of UBS Wealth Management, said in an interview that UBS will not be selling its wealth management arm to Wells Fargo anytime soon, nor will the struggling Swiss giant be selling said business to any other bank. Still, Wells Fargo & Co. is most definitely in the market for a big brokerage unit the likes of UBS Wealth Management, and so if you (or anyone you know) have thousands of wealthy clients who, collectively, have several billions of dollars in assets, please give Wells Fargo CEO Johnny Stumpf a call.
(Bloomberg: UBS's McCann Denies Speculation of Talks With Wells Fargo)
(Related: Exodus at UBS)
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