Robert Wolf, the chairman of UBS in the Americas, has a reputation for being a friend of President Obama. Not only does he vacation, shoot hoops and golf with the President, but he has raised more than $500,000 for Obama’s re-election campaign this year, according to the New York Times’ Susanne Craig.
Apparently the banker’s close ties to the President has been making some UBSers uncomfortable amidst tougher financial regulations the Obama administration is pushing for.
From The New York Times:
The bank’s powerful group executive board in Zurich recently presented Mr. Wolf with an edict directing him to report all his media inquiries to the firm’s press office. Since then, most of the requests to speak to Mr. Wolf have been rejected, according to people briefed on the situation, resulting in a much dimmer limelight for Mr. Wolf.