United Bank of Switzerland ought to drop the name Brinson Partners Inc. When a Page 1 headline says, "Consultants tell clients to dump Brinson," these advisers to fund sponsors really mean: "dump UBS Asset Management."
But the bank is keeping the Brinson Partners Inc. name in the United States for now. Perhaps it is an attempt to have as much as possible of the bad news -- namely, the departure of clients -- reported under that label, leaving as far in the background as possible the real organization -- UBS Asset Management.
Executives at Brinson Partners have said there is only one money management organization, the global UBS Asset Management. They said they are keeping the name Brinson Partners in the United States only for its familiarity in the market. But they said the organization is in fact UBS Asset Management, whether in Chicago, New York, London, or elsewhere.
Gary Brinson soon will be gone. The organization has changed. Peter Wuffli, chief executive officer of UBS Asset Management, runs the operation. It would be better for clients to call it by its true name, UBS.