UBS has boosted its structured products capabilities by acquiring Luxembourg Financial Group (LFG), Dow Jones reports. The Swiss financial group will pay €25 million for the acquisition of London-based structured products boutique.
After the completion of the deal, which is expected in the second quarter of 2011, LFG will form part of UBS’ global equities division. JohanGroothaert, CEO of LFG and formerly head of structured products at Deutsche Bank, will join UBS, adds Risk.net.
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