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By Stephanie Ruhle and Michael J. Moore |
March 6, 2013
UBS O’Connor LLC, the $6 billion hedge-fund unit within the biggest Swiss bank, risks upheaval as senior traders seek to defect after a clampdown on cash bonuses.
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By Lindsay Fortado, Phil Mattingly and Silla Brush, Bloomberg |
December 19, 2012
UBS AG will pay about $1.5 billion and two former traders face prison as the bank settled charges with U.S. and U.K. authorities for manipulating interest rates in a global conspiracy to boost profits and bonuses.
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By Lindsay Fortado, Gavin Finch and Liam Vaughan, Bloomberg |
December 19, 2012
UBS AG’s $1.5 billion fine for rigging global interest rates expands the scandal to include bribery and highlights the influence of a trader in Tokyo who colluded with other banks to align their submissions.
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By Sree Vidya Bhaktavatsalam, Bloomberg News |
December 4, 2012
Global banks, forced by regulators to reduce their dependence on profits from high-risk trading, have rediscovered the appeal of the mundane business of managing money for clients.
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By Maria Kolesnikova and Chanyaporn Chanjaroen, Bloomberg |
October 31, 2012
UBS AG plans to close its oil, base metals and agriculture trading desks as Switzerland’s biggest lender shrinks its investment bank.
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By Elena Logutenkova and Bradley Keoun, Bloomberg |
October 29, 2012
UBS AG’s decision to cut as many as 10,000 jobs and retreat from capital-intensive trading businesses will help position Switzerland’s largest bank to return more funds to shareholders.
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By Ambereen Choudhury, Elisa Martinuzzi and Elena Logutenkova, Bloomberg |
August 22, 2012
European crisis continues to take tolls on all segments of business, especially banking.
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By News Story |
October 8, 2011
In a memo to employees, UBS executives reportedly insist that internal risk controls did indeed detect the rogue trader that cost the company more than $2 billion.
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By News Story |
September 24, 2011
The $2.3 billion loss rocks leadership. Oswald Grübel quits. Regional head Sergio Ermotti is named group CEO on an interim basis.
