UBS was fined $47.6m by the U.K. and told by the Swiss that it may have to increase capital levels for operational risks as regulators levied penalties in response to Kweku Adoboli’s $2.3bn trading loss.
We all knew it was coming.
Kweku Adoboli, the former UBS trader jailed over losing $2.3bn, said financial leaders including JPMorgan Chase CEO Jamie Dimon and former Barclays CEO Bob Diamond were better at making money because of risks taken earlier in their careers.
The Swiss bank UBS is braced for a fine and reprimand from regulators after its former trader Kweku Adoboli was jailed for fraud.
A former colleague of Kweku Adoboli, the City trader jailed for seven years for gambling away £1.5bn of Swiss bank UBS's money, has set up an online betting company.
Poor old Kweku Adoboli.
Fourteen months after the largest loss from unauthorized trading in British history, UBS is accelerating a retreat from risk taking.
Former UBS trader Kweku Adoboli was sentenced to seven years in jail for fraud in relation to a $2.3bn loss, the largest from unauthorized trading in British history.
Here's the email sent by UBS trader Kweku Adoboli to internal bank accountant William Steward advising that things might not be the way they seemed. Soon after, the shit really hit the fan.
On a cool late summer evening last year in London’s financial district, with the euro-zone crisis worsening and Greece tottering on the edge of default, Kweku Adoboli says he asked the three traders who worked with him at UBS’s exchange-traded funds desk to join him for a drink.
The top 1,500 bank staff in the UK earned an average of £1m each in 2011, according to new regulatory filings by major banking employers.
And impacted the lives of hundreds, if not thousands, of people.
Ronald Greenidge, the former UBS Managing Director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli, has sued the bank claiming it treated him more harshly than others because he’s black.