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FRIDAY APRIL 04
Ex-UBS Chief-Turned-Trader: Time For A Break Up Coming out of the woodwork wielding a deadly combination of capital and his poison pen is former UBS president Luqman Arnold, whose investment firm Olivant Advisers owns a 0.7% stake in the bank, on the hook for $38 billion of writedowns. Due to his insider status, it’s believed Arnold might be given a degree of street cred in the letter he’s written to a UBS board member (just released) demanding a breakup of the bank and a hearing in advance its annual meeting April 23. That said, this guy didn’t exactly leave UBS under the best of circumstances, something not well-highlighted by the press today – other than in the following story. That said, he insists his intentions are pure. “We want to make money,” he says, “It’s as simple as that.” Indeed, what intentions could be purer? April 2008New User?Sign up to get free access to TraderDaily.com
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