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Why activists won’t change UBS

UBS has hogged the headlines for months after the Credit Suisse deal, and can hardly be called undervalued

Brutal job cuts in investment bank show UBS is already pivoting to wealth management
Brutal job cuts in investment bank show UBS is already pivoting to wealth management Photo: Joan Cros/Getty Images

UBS is a somewhat unusual target for Cevian Capital. The Swedish activist investor, which has taken a 1.3% stake in the Swiss banking group, tends to focus on companies that it believes are overlooked or misunderstood by investors.

Following its dramatic takeover of stricken rival Credit Suisse, it is hard to argue that UBS has been overlooked. For months it has rarely been out of the headlines.

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