Van Eyk takes UBS dispute to next level
Van Eyk Research managing director Stephen van Eyk has taken the group’s highly-public dispute with UBS Global Asset Management to the Swiss manager’s global headquarters.
Van Eyk has written to UBS’ global chief John Fraser seeking an explanation behind the group’s decision to no longer be rated by van Eyk, after initially seeking a response from Australian chief executive Colin Woods.
Van Eyk said at a meeting of clients last week that he was receiving strong support over the dispute.
“It’s at times like this that you know exactly who your friends are, and people have been fantastic. We obviously have a lot of friends in the community and pressure is being brought to bear big time, not by anything I am doing, but by clients,” van Eyk said.
“I’ve had calls from fund managers, some that we have given terrible ratings to, and they have told me that there is no question as to van Eyk’s integrity,” he added.
Woods told Money Management last week that UBS was unlikely to reverse its decision to ban van Eyk.
“Nothing’s really changed. I don’t know if people can offer cast iron guarantees, but the upshot is I’m quite comfortable with not being rated by them,” he said.
“I guess you can never say never, but until something else changes this is the situation,” he added.
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