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NewsApril 6 2008

Rohner under pressure to split UBS

Tough times for bankers. UBS chief executive Marcel Rohner is under pressure to split the investment banking and wealth management arms of Europe’s second largest bank as this is touted as the best solution to the $18bn writedown that it has taken on mortgage securities.
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Barclays’s president Bob Diamond has announced plans to split the bank’s operations between London and New York, in a move that would put a lot of the senior investment bankers in the US, which Mr Diamond sees as an area of increased income for Barclays Capital.
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