A unit of UBS is objecting to a plan that would allow hundreds of investors who lost money in closed-end Puerto Rico bond funds to arbitrate their claims against the firm on the U.S. mainland, according to people familiar with the matter.
Headquartered in Zurich and Basel, UBS is a global firm providing financial services to private, corporate and institutional clients.
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.
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 AG and Credit Suisse Group AG, Switzerland’s biggest banks, should split off their investment banks to regain the trust of investors and clients, former UBS Chairman Peter Kurer wrote in a commentary for Bloomberg View today.
A former Bank of America municipal bond marketer testified that he conspired with four former members of the UBS municipal derivatives group to rig bids and fabricate work on transactions.
Here's the latest on the people front from Bloomberg News.
A former broker at Tullett Prebon said in a lawsuit over his firing that he never tried to manipulate Libor rates, calling messages with a UBS banker 'misleading'.
OK, so it's something a little different from UBS again (and we all know how that dress code went over a couple of months back), but this time those guys in Switzerland who are paid to come up with these wacky kind of ideas might actually be on to something.
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.
The Wall Street Journal reports that Credit Suisse has denied press reports that it is to relocate 3,500 Swiss-based IT jobs to lower cost locations. The company has said that whilst it is continually looking at offshoring options, it is actually recruiting in IT in Switzerland at the moment, and has around 220 open positions.
Six leading financial services firms are preparing to compete in the annual Arch to Arc Enduro Challenge Triathlon, one of the world's most arduous relay races, contested across land and water between London and Paris.
A 50-year-old Harlem educator is giving her UBS broker failing grades after she lost $400,000 from her Puerto Rico muni bond fund.
Here's the results for the Here Is The City Deep Blue Associates-sponsored '2008 Best Chief Technology Officer / Chief Information Officer Poll'.