BlackRock’s Hildebrand Reportedly Entering UBS, Credit Suisse Negotiations

© Reuters. FILE PHOTO: A BlackRock building is seen in New York June 12, 2009. REUTERS/Eric Thayer/File Photo

(Reuters) – BlackRock Inc (NYSE:) Vice President Philipp Hildebrand is engaged in talks as Swiss officials try to hammer out a deal for UBS Group to take over Credit Suisse Group AG, Bloomberg News reports. news on Saturday, citing unidentified sources.

When asked about the report, BlackRock spokesman Ryan O’Keeffe said in a phone interview that “Philipp was not at all formally involved in these discussions.”

Hildebrand, who joined New York-based asset management firm BlackRock in 2012, previously served as chairman of the board of the Swiss National Bank. According to his bio on BlackRock’s website, in that capacity he is also a member of the Financial Stability Board, where he was appointed vice president in 2011.

Sources have told Reuters that UBS is considering a takeover of peer-to-peer Credit Suisse, which could allay fears that an ongoing crisis at the bank could later destabilize the system. global finance.

Earlier on Saturday, BlackRock said it had no plans or interest in acquiring Credit Suisse, following reports it was working against UBS.


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