UBS AG, Switzerland’s biggest bank, is considering a spinoff of its investment-banking business as regulators’ demands for more capital thwart efforts to boost returns, according to Mediobanca SpA analysts.
Darty Plc, the owner of France’s largest consumer-electronics chain, became the latest international retailer to exit Turkey after failing to halt losses there amid a stranglehold by domestic businesses.
UBS AG’s Chief Financial Officer Tom Naratil will meet next week with Knight Vinke Asset Management LLC, an investor that called for a spinoff of the lender’s investment bank, two people familiar with the matter said.
Darty Plc’s largest investor plans to exercise its right to install a representative on the board of France’s biggest electronics retailer, losing patience after the company warned that annual profit is set to miss estimates.
UBS AG is always looking at all shareholder suggestions, Chief Executive Officer Sergio Ermotti said, a day after investor Knight Vinke Asset Management LLC called for a spinoff of the lender’s investment bank.