UBS and Wachovia Securities discuss Merger

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Troubled Swiss banking giant UBS has held preliminary talks with Wachovia Securities about forging a joint venture of the pair's North American wealth-manager units.

From the New York Post

Such a venture would comgine UBS' wealth-management shop, which has more than 8,000 retail brokers in the US, with Wachovia Securities' 16,000 financial advisers.

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Tags: ubs, Wachovia, merger, wealth management