UBS is poised to receive immunity from European Union currency-rigging fines after it was the first to approach regulators in the probe, according to a person with knowledge of the case.
Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients.
The Swiss Competition Commission said it’s investigating UBS and other banks as the probe into the alleged manipulation of foreign-exchange rates deepens.
A former UBS trader who became a cooperating witness in the U.S. government's sweeping probe of bid-rigging in the $3.7tril municipal bond market was sentenced to time served on Thursday.
UBS suspended foreign-exchange traders in the U.S., Singapore and Switzerland as its investigation into the alleged rigging of currency markets widened, according to a person with knowledge of the matter.
The Swiss government is set to appoint British-born former banker Mark Branson as the first non-Swiss national to head its financial regulator, two sources said, just as the body probes currency markets and prepares for a major review of big banks.
Citigroup has named Richard Bibbey to run its global spot foreign-exchange business as the bank seeks to more closely align its voice and electronic trading of currencies.
A senior UBS banker in Hong Kong returned to work on Monday, according to a spokesman for the bank, after being placed on leave as part of an investigation into the hiring of a Chinese colleague.
Once modest of pay and profile, risk experts are being reborn as rock stars of the banking world - their status and salaries soaring as regulators force financial institutions to clean up.
UBS said it’s reviewing its precious metals business amid regulatory inquiries into the gold market, while the Hong Kong Monetary Authority reprimanded the firm for interest-rate rigging.
UBS raised total compensation for CEO Sergio Ermotti by 21% to $12.3m after the bank returned to profit last year.
It was in September 1996 when trading in three Morgan Grenfell investment funds was suspended following the discovery of certain 'irreguarities'. Peter Young, the fund manager at the center of the affair, is said to have trod the fine line between genius and eccentric.
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.
UBS hired bank takeover specialists Tannon Krumpelman and Doug Simons as the firm rebuilds its financial-services practice to cope with a prolonged dealmaking slump in that industry.
Dealbreaker reports that, a couple of weeks back, a New York-based second year Credit Suisse technology analyst is said to have returned to the office (apparently over the weekend) rather the worse for wear, and trashed a colleague's work space (see pic to the right, which was seemingly taken by a member of the firm's HR Department for the employee's file).
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.
UBS Global Asset Management’s Global Real Estate business has announced that Eric Byrne has been appointed as the new Head of Global Multi-Managers & Securities, effective 1 May 2013.
Fortune magazine has just published its latest group of lists of the world's top companies. Here's a note of the top banks / securities firms by revenue as per their last year-end:
Graduate Solutions, providers of bespoke graduate recruitment outsourcing solutions for financial markets / services firms, were sponsors of the inaugural Here Is The City 'Best Firms For Graduate Recruitment & Development' Awards.
Here's the latest on the 'Movers & Shakers' front.
UBS has announced the appointment of Ousmène Mandeng as Head of Public Sector Advisory, Cross Asset Distribution.