[September 16, 2008] UBS Puts Cost Of Lehman Unwind Below $300 Million Tweet (InvesTrend Via Acquire Media NewsEdge) September 16, 2008 (FinancialWire) -- UBS (NYSE: UBS) (Current Market Cap: US$43.86 Bil.) said that its direct and counterparty exposures to Lehman Brothers, net of hedges, were substantially closed out as of September 16. The Swiss firm said it does not expect the total cost of closing out its exposures to Lehman Brothers to exceed $300 million. Switzerland-based UBS is a financial firm engaged in global wealth management, investment banking and global asset management. In Switzerland, UBS is engaged in retail and commercial banking. The company has offices in over fifty countries, with about 37% of its employees working in the Americas, 34% in Switzerland, 16% in the rest of Europe and 13% in Asia Pacific. UBS employs more than 80,000 people around the world. FinancialWire is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire news is available at http://www.financialwire.net . Please address any inquiries to [email protected] . Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 . (Distributed for Investrend Communications, Inc. via M2 Communications Ltd (www.m2.com)) Copyright ? 2008 M2 Communications Ltd. [ Back To TMCnet.com's Homepage ]