graphic
graphic  
graphic
News > Companies
graphic
Phil Gramm joins UBS Warburg
Texas Republican, who fought corporate reform act, to advise clients on corporate finance issues.
October 7, 2002: 10:28 AM EDT

NEW YORK (CNN/Money) - Senator Phil Gramm will become vice chairman of UBS Warburg, the financial services company said Monday.

The Texas Republican, who is retiring at the end of his current term after 24 years in Congress, will "advise clients on corporate finance issues and strategy," according to a UBS Warburg news release.

"Senator Gramm's experience gained from more than 35 years in academia and government make him uniquely suited to assist our clients to meet the challenges presented by today's business environment," UBS Warburg CEO John Costas said in a release.

Gramm drew criticism for being one of the few legislators who objected to the Sarbanes-Oxley corporate reform bill, passed this summer and signed into law by President Bush.

The act was the most sweeping reform of corporate accounting since the Great Depression, and it came in response to a series of corporate accounting scandals that began with the collapse of Enron Corp., once the seventh-largest U.S. company. Gramm's wife Wendy was a member of Enron's board of directors and a member of the board's auditing committee.

U.S. shares of UBS (UBS: down $1.68 to $36.00, Research, Estimates) fell in early trading.  Top of page




  More on NEWS
JPMorgan dramatically slashes Tesla's stock price forecast
Greece is finally done with its epic bailout binge
Europe is preparing another crackdown on Big Tech
  TODAY'S TOP STORIES
7 things to know before the bell
SoftBank and Toyota want driverless cars to change the world
Aston Martin falls 5% in its London IPO




graphic graphic

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.