UBS is set to make a profit of Sfr350m (€225m) from the sale of a majority stake in Motor-Columbus, the Swiss holding company for energy assets, to a consortium including minority shareholders and Electricité de France.

The Swiss banking group, which has sold its 55.6% stake in Motor-Columbus to the consortium for Sfr1.3bn, said it will complete the deal at the start of next year at the earliest, adding that it expects to book the pre-tax gain in its industrial holdings division in the first quarter of 2006.

Vivek Ahuja

Electricité de France

Motor-Columbus

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

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The vice president is the most high-profile recent American visitor to the Cotswolds, an idyll that locals say is being disrupted by too many Yanks.

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Tricks of the trade gain new importance as 401(k) accounts open up to alternative investments.

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A weekly call turned into a celebration of heroes as staffers comfort one another through lingering trauma.

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Some fear a decline in the world-leading economic statistics underpinning U.S. markets.

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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The New York investment firm posted a profit of $472.4 million, compared with $667.9 million a year earlier.

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America’s most powerful banker and the president have met twice in the past two months to talk about the economy, interest rates and trade.

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The London-based bank said it is well on its way to achieving the target of returning at least $8 billion to shareholders over the three years ending in 2026.

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UBS scoops Sfr350m from Motor-Columbus

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