UBS and Credit Suisse are preempting their regulator and will separate analysts' pay from investment banking. Urs Roth, chief executive of the Swiss Bankers Association, is quoted by Bloomberg as saying that 'the problems are the same as in the US, and to some extent the solutions are likely to be the same.'
In a related story, JP Morgan has become the latest Wall Street house to confirm that it is simplifying its stock rating system. With immediate effect, its analysts will assign one of only three ratings, 'overweight', 'neutral' and 'underweight', to the stocks that they cover.
CSFB, UBS Preempt Regulator
Bloomberg reports that Swiss banking giants, UBS and Credit Suisse, plan to follow their US rivals and change the way their stock research analysts are compensated in order to improve investor confidence and remove any potential conflict of interest fears.
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