BlackRock’s Hildebrand is reportedly taking part in talks with UBS and Credit Suisse

March 18 (Reuters) – BlackRock Inc (BLK.N) Vice Chairman Philipp Hildebrand joins talks as Swiss officials try to broker a deal for UBS Group (UBSG.S) to acquire Credit Suisse Group AG (CSGN.S) take), Bloomberg News reported on Saturday, citing unidentified sources.

When asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that “Philipp is not formally involved in these discussions at all.”

Hildebrand, who joined New York-based asset manager BlackRock in 2012, previously served as Chairman of the Board of Directors of the Swiss National Bank. According to his biography on BlackRock’s website, he also served as a member of the Financial Stability Board in that capacity, where he was named Vice Chairman in 2011.

Sources have told Reuters that UBS is considering a takeover of embattled competitor Credit Suisse, which could allay fears that an unfolding crisis at the latter could destabilize the global financial system.

Earlier on Saturday, BlackRock said it had no plans or interest in acquiring Credit Suisse, following a report that it was working on a bid to counter UBS.

Reporting by Ross Kerber in Boston Edited by Nick Zieminski

Our Standards: The Thomson Reuters Principles of Trust.

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