Is Union Bancaire Privée dying by Imperial China's torture and execution method of slow slicing?
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