UBS Investment Bank has acquired commodity index operations from a division of American International Group Inc.
UBS Investment, a unit of UBS A.G., Zurich, is paying AIG Financial Products Corp., an arm of AIG, New York, $15 million up front for the rights to the DJ-AIG Commodity Index.
Depending on how the index business does, UBS could end up making up to $135 million in additional payments over the next 18 months.
The 13 AIG Financial Products commodity index employees will go to work for UBS Investment Bank.
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