Economist: Sorry State of Industry May Save UBS

In its take on UBS and the general malaise of Swiss banking, the Economist this week said that even though predators may be circling to grab opportunities in any breakup, the “generally sorry state of its industry” may be its saving grace as “few would-be buyers have the ready cash for such a large deal.” Also at least one anonymous former UBS manager they interviewed seems to agrees with us in saying “Investment banking and asset management might as well be separate.”