The timing and target of Knight Vinke’s letter to UBS management, which recommended the spin-off of the investment bank, has been called into question by analysts.

In Knight Vinke's letter, published on the same day as UBS's AGM, the activist investor called on the Swiss bank to recognise that "the best owners of the investment bank could well be its management and employees" and that "transferring full or partial ownership of the investment bank to insiders would almost certainly lead to more prudent behaviour".