UBS is considering buying a wealth-management firm in Brazil as it seeks to expand that business sevenfold by 2020, said Sylvia Coutinho, chief executive officer of the lender’s Brazil unit.
Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients.
The chief executive of UBS's British operations is to leave the bank at the end of September, according to an internal memo seen by Reuters on Thursday.
Former UBS banker Raoul Weil, accused of helping Americans evade taxes, may be allowed to call fellow bankers as witnesses to testify from overseas by video because they fear arrest if they travel to the U.S.
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.
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.
By John E. Morris, David Carey
Personal training company Matt Roberts, in association with Devonshire Terrace, is now looking to find the fittest professionals in the City. Could you be one of them ?
UBS has announced the appointment of Ousmène Mandeng as Head of Public Sector Advisory, Cross Asset Distribution.
Here's the testimony of Mark Froeba, who, before leaving in 2007, was jointly responsible for evaluating all Moody's new CLO rating guidelines, before the US Financial Crisis Inquiry Commission Wednesday.
We all know that whereas M&A was once King, the torch has now passed to the trading boys. Well, Trader Monthly magazine recently published its second annual list of the world's most successful traders (for 2004). The magazine has estimated what each trader makes by speaking to hundreds of industry sources, and sometimes the traders themselves. Because it is difficult to get a precise number, an earnings range has been applied against each trader's name. Here are the guys at the Top of that list:
UBS's private banking head hit back against a shareholder's call to hive off the investment bank, saying the units work together to serve wealthy private clients.
'Consolidation will certainly happen'.
Here's the written statement of Barry Zubrow, Chief Risk Officer at JPMorgan Chase, before the Financial Crisis Inquiry Commission on September 1, 2010.
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 CEO fell on his sword over that $2.3bn unauthorized trading losses announced earlier this month.
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.