Paine Webber Redux
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"New UBS US wealth management chief says no plan to sell business, nor do
acquisitions any time soon"
Soon is an arbitrary term — it takes a while to apply the lipstick…
I think we all agree that no matter what McCann says, our division will most likely be spun off…eventually. But as the new CEO, McCann cannot and should not say we are up for sale-- That would be insane. Besides, as a top executive, he’s had the DNA transplant like every other top executive. He can’t help but lie to the public, right?
But this forum, including me, roasted Ozzie for saying what he did about a potential sale in 3 years after we've had a chance to build the value of the franchise. Not his best moment, if you ask me. If he could take those words back, you know he would. That was just stupid. ABOM, aside from the issue in the above paragraphs, as a BOM at UBS with a ton of experience, what is your initial impression of McCann? I did not get to listen to him on the call this morning. LAI worked for him at MER. I think people will like him. He is a “roll up the sleeves” guy and does a fantastic job of connecting with people in the organization. He knows what it takes to be successful in this business, and is “FA centric” in regards to decision making. A great hire IMO.
I think most agree, the jury is still out.“New UBS US wealth management chief says no plan to sell business, nor do
acquisitions any time soon”
Soon is an arbitrary term — it takes a while to apply the lipstick…
I think it will take him about a week to size up that the place needs a major overhaul. I think he will clean house of old losers and make major changes I love the guy. A winner. Balls. Just the oppisite of the whining, cost cutting, scared pussy mentality of current UBS losers. At this place its why we "can't" do something. This guy talks like a winner. why can't we do it? You will see some major major ass changes quickly. Will shock many of the middle and upper management losers. My sense is they adapt or he will throw them out. It can happen pretty quickly ( I have seen it) The big question is execution. can he do it? Thats why they play the games. Seriously, you long term UBS guys have been fukced so many times you cant see any sunshine. That will change if he does it right. you will trust again You guys are the Jacee Duguards of our business. The FBI is here. You are out of the trap. Now we must get you th ehelp to heal.I worked for him at MER. I think people will like him. He is a “roll up the sleeves” guy and does a fantastic job of connecting with people in the organization. He knows what it takes to be successful in this business, and is “FA centric” in regards to decision making. A great hire IMO.