Mergers And Acquisitions
BANKS
Mergers and acquisitions between the largest players in the banking field dominated headlines in 1998. The merger between Zurich-based Union Bank of Switzerland (UBS) and Swiss Bank Corporation (SBC) was the first to strike (RMO, February 9, 1998).
But the road to unification was not without its hurdles. UBS first fought rumours that the bank sustained heavy derivatives losses in 1997. Although it vehemently denied allegations, it soon surfaced that UBS was restructuring its risk management
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