UBS is facing claims of more than $600m from clients who say the bank is responsible for losses they incurred on investments in risky Puerto Rico debt, UBS said in its quarterly report on Tuesday.
Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients.
Two more banks – UBS and Deutsche Bank – have been drawn in to the controversy over "dark pools", the private trading systems recently highlighted by bestselling author Michael Lewis in his latest book on Wall Street.
UBS on Tuesday became the latest bank to say it is cooperating with inquiries about alternative trading system, also known as 'dark pools', from various American regulators.
UBS said on Tuesday that second-quarter profit rose nearly 15% despite muted client activity during the quarter and additional charges for litigation and regulatory inquiries, including the settlement of a German tax investigation.
A former Bank of America derivatives trader who pleaded guilty to conspiring to falsify documents was spared prison on Friday after spending years helping the government probe bid-rigging in the $3.7tril municipal bond market.
Alan (Ace) Greenberg was the CEO of Bear Stearns between 1978 and 1993 and, during that time, wrote a series of humorous memos to his staff to underline the importance of certain critical business tenets.
UBS sounded a combative note on Thursday, criticizing the decision of French prosecutors to place it under formal investigation over allegedly helping French clients evade taxes.
Bailed-out Lloyds Banking Group appears poised to become the latest financial firm to be penalised for rigging Libor and is said to be facing a fine of between £200m and £300m.
A $5.6bn hedge-fund unit of UBS hired former Credit Suisse corporate-debt trader Nathan Bohn as it expands its credit group.
UBS was placed under formal investigation by the French authorities on Wednesday and ordered to post bail of more than around $1.5bn in the kind of tax-evasion case that ensnared it in the United States several years ago.
What is it with senior staff over at UBS Investment Bank ? They seem to have a constant need to be told that they will be taken care of come bonus time.
UBS has announced the appointment of James B. Broderick as CEO, Wealth Management UK & Jersey, effective 7 January 2013*.
Sad to report.
We've called in the services of Ivana Takitall, author of the best-selling 'Bankers, Bonuses & Big Divorce Settlements', who has agreed to rate 12 top financial markets firms in terms of how likely they are to provide single females with their perfect partner.
UBS has no plans to sell its U.S.-based wealth management arm, the former Paine Webber brokerage, Chief Executive Sergio Ermotti said on Wednesday.
Rajeev Misra, UBS’s former co-head of fixed-income, is preparing to join Fortress Investment Group, two people with knowledge of the matter said.
Here's the latest on the 'movers and shakers' front.
A group of CDS and fixed income traders led by Iftikhar Ali from hedge fund Millennium Capital, recently returned from Pakistan to help raise funds for the victims of the country's recent floods.
UBS has said it had expanded the number of employees that are subject to internal background checks to around 15 percent of its workforce in a move than came in the wake of numerous scandals.
Geopolitics in the Middle East and Eastern Europe has dominated financial headlines. But investors should focus more on the U.S. recovery and the Federal Reserve 's response as market drivers.
He argued at trial that his managers pushed him to take too many risks and that rule-breaking at the bank was rampant.
Too pricey even for Goldman Sachs ?
An asset management firm founded by former Goldman Sachs partner Vishal Gupta sued UBS, saying investment banking cuts at the firm have undermined a joint venture.