Peter Voser Shell/USB director
The Times: Luqman Arnold buys bigger UBS stake and steps up reform campaign
April 19, 2008
Patrick Hosking, Banking and Finance Editor
Luqman Arnold, the rebel shareholder pushing for boardroom reform at UBS, has bought about another £150 million of shares in the beleaguered Swiss banking group.
Purchases over the past two weeks have lifted the stake of Olivant, Mr Arnold’s investment boutique, from 0.7 per cent of UBS to 1.1 per cent.
Mr Arnold revealed the stakebuilding yesterday and expressed himself pleased after meeting two UBS independent directors – Sergio Machionne, the head of Fiat and the deputy chairman of UBS, and Peter Voser, the finance director of Shell – on Thursday.