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UBS sells metals, oil and US power & gas to Barclays Capital

UBS has sold its positions in base metals, oil and US power & gas to Barclays Capital (BarCap). The full risk transfer will be completed by the end of the second quarter of 2009.

According to a source close to the deal, there is a possibility that some staff at UBS might be taken on by BarCap, but numbers were not confirmed. However, the source was quick to reiterate that the transfer of risk was

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