BlackRock’s Hildebrand reportedly to participate in UBS, Credit Suisse discusses

March 18 (Reuters) – BlackRock Inc ( BLK.N ) Vice Chairman Philipp Hildebrand is taking part in talks as Swiss authorities try to strike a deal with UBS Group ( UBSG.S ) to take over Credit Suisse Group AG ( CSGN.S ), Bloomberg News reported on Saturday, citing unidentified sources.

Asked about the report, BlackRock spokesman Ryan O’Keeffe said in a telephone interview that “Philipp has no formal involvement in these discussions at all.”

Hildebrand, who joined New York-based asset manager BlackRock in 2012, previously served as chairman of the board of the Swiss National Bank. According to his biography on BlackRock’s website, in this capacity he was also a member of the Financial Stability Board, of which he was appointed vice-chairman in 2011.

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

Earlier on Saturday, BlackRock said it had no plans or interest in buying Credit Suisse as it worked on a bid to fend off UBS after the report.

Reporting by Ross Kerber in Boston Editing by Nick Zieminski

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