UBS Acquires PaineWebber; Structural Changes on the Way
MANAGEMENT & INFRASTRUCTURE
NEW YORK--The recent acquisition of PaineWebber by Swiss bank UBS has generated questions with regard to each firm’s IT staff. A UBS Warburg spokesperson says decisions have not yet been made regarding IT head count, but the bank has announced that it will offer an $875 million incentive plan of stock and cash to key Paine-Webber professionals to be paid out over the next three years.
For the present, Robert Silver will continue to head IT and operations for PaineWebber. Ernest Pittarelli is
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