UBS Reportedly to Wind Down Funds With 'Significant' First Brands Exposure

MT Newswires Live

6 hours ago

UBS Group AG (UBS) told clients of its O'Connor subsidiary that it is liquidating several invoice finance funds with substantial debt exposure to First Brands Group, the Financial Times reported Thursday, citing people familiar with the matter.

The Swiss bank is wrestling with more than $500 million of First Brands exposure across its investment and asset management arms, the report said.

UBS did not immediately reply to a request for comment from MT Newswires.

Price: 38.08, Change: -0.29, Percent Change: -0.77

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