Financial and Banking News
UBAF to Offer Debt Trading Service
Paris-based Union de Banques Arabes et Francaises (UBAF) has set up asovereign debt trading department offering portfolio management and advisoryservices. Initially the subsidiary, which will be 100% owned by UBAF, will belicensed as a "societe de conseil," with the result that it will onlybe able to earn fee income. The intention will be to upgrade the license tobecome an "etablissement de...