speculation that the Swiss banking company UBS AG is interested in selling
"Absolutely not -- there's nothing to (those rumors)," said Richard
Warburg's trading platform and research capabilities are just too
"If people took the time to look at how important it is to the group as
His statement echoed those made earlier in the day by UBS chief
Mr. Arnold rejected reports that Chase Manhattan Corp. and Citigroup
"We continue to have no interest in selling Warburg Dillon Read," Mr.
Chase and Citigroup refused to comment on the matter.
UBS shares on the Zurich stock market closed Monday's trading at
The rival bank Credit Suisse Group ended the day at $192.46, up $1.30.
Talk of a selloff is again haunting the banking unit, because Warburg,
"It's too successful to be closed, but not successful enough to stand
For the first six months of the year, the Warburg division was the most
The company as a whole earned $3.52 billion in the same period.
Yet Warburg has lost some of its clout as an investment bank in Europe,
Investment houses such as Morgan Stanley Dean Witter and Goldman Sachs
"Not having a large presence in the United States" also makes it
Indeed, Mr. Capone acknowledged in an interview that a strong U.S.
"We want to establish a broad enough footprint here so we can maintain
To do this, Warburg has been shifting its emphasis from trading for its
"We'll be investing in investment bankers rather than risk arbitrage