News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Highlights of 2010: UBS, Goldman Sachs and the $10m high-yield research analyst

November 12: The Swiss bank was dropped from initial public offering of GM after analyst sent out an unauthorised email, and will miss out on $10m in fees, but it could have been worse were it not for Goldman Sachs

Successful bankers often pick up monikers like 'the $11m man' when they've worked on a slew of deals. Now UBS has the $10m high-yield research analyst, after an unauthorised email led to the bank being dropped from the GM flotation, missing out on millions in fees.

General Motors confirmed Wednesday a previously-named underwriter of its initial public offering was dropped after an employee of the underwriter sent an unauthorised email to "potential institutional accounts" http://bit.ly/dAq09V.

WSJ Logo