23rd Jan 2003
ZURICH, Jan 23 (Reuters) - The head of Singapore's Government Investment Corporation (GIC), which has agreed to make a massive capital injection in UBS (UBSN.VX: Quote, Profile, Research), is against the idea of the Swiss bank spinning off its investment bank unit, a Swiss media report said.
Ng Kok Song, who heads the GIC, told Swiss newspaper Finanz und Wirtschaft in an interview that although the investment bank required restructuring, a spin-off of the entire business would be a mistake. >>>> More
