Worry not, distribution fundsters; the smallest of the U.S. wirehouses is not for sale.

UBS' [profile] executives in Switzerland reaffirmed that the firm's U.S. wealth management business is not for sale, according to a Reuters report.

Chief executive Sergio Ermotti confirmed this in a conversation with a "group of businessmen," according to the story.

"It has always been my view that it would be a terrible strategic mistake for UBS not to have a significant presence in what is arguably the most important financial centre and wealth management market globally," Ermotti said.

For more details, check out the original story here.  

Edited by: Ben Geier


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