Brokers are bolting from UBS’ Asset Wealth unit in droves. Client assets have dropped $220 billion in since 2008 so the bank’s CEO, Oswald Grubel, is on the road on a charm offensive, headlining events with prized high net worth individuals.
Upper East Side eatery Serendipity 3 is launching a $69 “Haute Dog” today. The weiner is grilled in white truffle oil and topped with “medallions of duck foie gras with black truffles, caramelized Vidalia onions, heirloom tomato ketchup,” and Dijon Black Truffle mustard. The restaurant’s publicist thinks regulars Cher, Jay-Z, Beyonce, Tom Cruise and Katie Holmes will gobble them up.
The messy divorce of the founders of Ikos, one of Europe’s oldest hedge funds, is stirring up gossip among the group’s investors, who have seen AUM fall from a 3.7 billion pound peak in ’07 since Martin Coward left the fund. The most recent fight between Martin Coward and Elena Ambrosiadou was about who gets to use the private jet. See the new girl he’s been seen with >>
An RBS bank teller swidled the bank out of £150,000 ($232,095) by processing false transactions and taking cash out of her till every day for two years. Janie Cameron paid off $110,000 in credit card debt and put a deposit on an apartment with her embezzled cash.
Unsatisfied with the info so far delivered to his agency by Goldman Sachs regarding its derivatives platform, FCIC Chairman Phil Angelides told the FT he has more questions for Blankfein’s bank and wants another look at its books.
Private Equity mammoth Apollo, with its $55 billion AUM, is going to start its own bank, reports the FT.