What was Dillon, Read & Co.?
Q: What was Dillon, Read & Co.?
A: Dillon, Read & Co. was an investment bank based in New York City before being acquired by Swiss Bank Corporation in 1997.
Q: Who acquired Dillon, Read & Co. and when did this happen?
A: Dillon, Read & Co. was acquired by Swiss Bank Corporation in 1997.
Q: What happened to the Dillon Read name?
A: The Dillon Read name was dropped by 2000 after being acquired by Swiss Bank Corporation.
Q: What is Dillon Read Capital Management (DRCM)?
A: Dillon Read Capital Management (DRCM) was a division established by UBS in 2005 and headed by former UBS Investment Bank head John P. Costas.
Q: Why did UBS announce the closure of Dillon Read Capital Management?
A: UBS announced the closure of Dillon Read Capital Management on May 3, 2007, because the division had lost 150 million Swiss Francs in the first quarter of 2007, mainly due to bets on the sub-prime mortgage industry in the United States.
Q: What happened to the assets under management of Dillon Read Capital Management after its closure?
A: The assets under management of Dillon Read Capital Management were transferred into UBS's main asset management business after the division's closure.
Q: When was Dillon Read Capital Management closed?
A: Dillon Read Capital Management was closed on May 3, 2007.
