© Reuters. FILE PHOTO: A BlackRock building in New York June 12, 2009. REUTERS/Eric Thayer/File Photo
(Reuters) – BlackRock Inc (NYSE:) Vice President Philipp Hildebrand is taking part in talks as Swiss officials try to reach a deal for UBS Group to take over Credit Suisse Group AG, Bloomberg News reported on Saturday, citing unnamed sources. .
When asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that “Philipp has no formal involvement in these discussions.”
Hildebrand, who joined New York-based asset manager BlackRock in 2012, previously chaired the board of directors of the Swiss National Bank. According to his biography on BlackRock’s website, in that capacity he was also a member of the Financial Stability Board, where he was named vice chair in 2011.
Sources have told Reuters that UBS was considering a takeover of embattled Credit Suisse, which could allay fears that a developing crisis at the latter bank could destabilize the global financial system.
Earlier on Saturday, BlackRock said it has no plans or interest in acquiring Credit Suisse, following a report that it was working on a bid to counter UBS.
