Reuters-BlackRock Inc Vice Chairman Philipp Hildebrand is taking part in talks as Swiss officials try to put together a deal for UBS Group to take over Credit Suisse Group AG, according to unidentified sources.
Asked about the report, BlackRock spokesman Ryan O'Keeffe said in a telephone interview that Philipp has no formal involvement in these discussions at all. Hildebrand, who joined the New York-based asset manager BlackRock in 2012, previously chaired the Swiss National Bank's governing board. According to his biography on BlackRock's website, he was also a member of the Financial Stability Board, where he was appointed vice chairman in 2011.
Sources told Reuters that UBS was contemplating a takeover of Credit Suisse, which could cause allay fears that an unfolding crisis at the latter bank could destabilize the global financial system.
After a report on Saturday, BlackRock said it was working on a bid to counter UBS, it had no plans or interest in acquiring Credit Suisse.