It looks like Bob McCann
is headed to lead UBS
' wirehouse after all. CNBC
's Charlie Gasparino reports
that the Swiss bank "is likely to make the offer official by the end of the month." And InvestmentNews
' Mark Bruno and Bruce Kelly report
that McCann, the former Merrill Lynch
wirehouse chief "will likely join the firm [UBS] during the last week of October."
A spokesman for UBS declined to comment to the MFWire
for this story.
Fundsters may not be surprised by the distribution giant's move. In September the Wall Street Journal reported
that Merrill's new parent, Bank of America
, was trying to stop McCann from taking the top job at UBS' wirehouse. Last week the WSJ reported
that BofA and McCann had resolved the suit.
Neil Anderson, Managing Editor
Stay ahead of the news ... Sign up for our email alerts now