By Thomas Atkins 1 hour, 53 minutes ago ZURICH (Reuters) - Pressure on beleaguered Swiss bank UBS AG (UBSN.VX) to break up intensified as activist investor and former chief executive Luqman Arnold demanded to shake up its governance and structure.Arnold seeks to oust the newly named chairman, sell off asset management and the Brazilian division Pactual, and place the rest into a holding company with a view to selling investment banking and reducing the group to its wealth management rump.
"UBS's reputation has been comprehensively destroyed by proprietary trading activities totally divorced from any client business," Arnold said in a letter on Friday.
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