MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 20, 2001 UBS moves family Looks like there's been some rug-pulling at Brinson Partners, the Chicago-based unit of UBS Asset Management. Less than a month ago, Brinson planned to significantly expand their wholesaling and marketing forces to penetrate the defined contribution, but UBS senior management scrapped this strategy (See Asset Manager Eyes DC Opps). Instead, UBS slid Mitchell Hutchins, the investment management arm of PaineWebber, into the slot and named their CEO Brian Storms the president of the new entity. The gist of the deal is that Mitchell Hutchins gets the Brinson brand name and Brinson gets an entire department of wholesalers, without any money switching hands. The move eliminates the costs associated with Brinson's original plans to build these departments from scratch. Brinson's DC staff will report to their New York supervisors. Printed from: MFWire.com/story.asp?s=26473 Copyright 2001, InvestmentWires, Inc. All Rights Reserved |