By Niki Natarajan
With Ivy Asset
Management's funds now in liquidation, one wonders if Union
Bancaire Privée, which has seen its assets fall by 72%
in just two years, is dying by Imperial China's torture and
execution method of slow slicing.
Like Ivy, UBP had both Amaranth Advisors and Madoff in its
portfolios. Is it still standing simply because, at $56.9
billion in June 2008, it had nearly three and a half times more
money than Ivy's peak of $16.9 billion at the end of 2006?
With some $1 billion invested with Madoff and family
connections to him, it would seem that few can believe that the
Swiss private bank is still in 11th place in terms of FOHF
assets, now at $16.1 billion,...