UBS said reviewing wealth management down under

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You better take cover.

UBS is undertaking a review of its Australian wealth-management business that may lead to a sale of the unit, people familiar with matter said.

Bloomberg News reports that Mike Chisholm, the bank’s head of wealth management in the country, spoke to his team Tuesday about the review, which is focused among other things on management structure and the technology platform, said the people, asking not to be identified because the matter is private.

The process may or may not result in a sale, they said.

To access the complete Bloomberg News article hit the link below:

UBS Said to Begin Review of Australia Wealth Business

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