Singapore's GIC announced that it will continue its stake in Citigroup and UBS for many years and will sell only it gets an attractive offer. GIC being the biggest shareholder in both the banks.
UBS AG said on Sunday that it strategizes to sign up executives from Bank of America Corp and Goldman Sachs Group Inc to build its mortgages and lending business in the U. S.
UBS AG, seeking to boost profits from wealth management in the Americas, hired Jonathan Kessler from Bank of America Corp.'s Merrill Lynch to oversee a push to sell affluent customers more loans and banking products.
Recently, Ashley Jarvis was appointed as Asia-Pacific head of prime brokerage sales and global head of business consultancy for UBS, as the company mulls the expansion of its prime brokerage coverage of Asia. Earlier, Jarvis was the head for prime brokerage business consulting services for Europe, the Middle East and Africa.