Breakingviews

Considered view

03 Nov 2009 12:20

Believe the gripe

By Jeffrey Goldfarb

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When the revered Swiss banker took over at UBS earlier this year, his grim outlook was partly dismissed as mere expectations management. But a weak Q3 bears him out. Even UBS strongholds wealth management and equities suffered. The shares don’t reflect Grübel’s continued caution.

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