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By Marlene Y. Satter, AdvisorOne |
September 14, 2012
Kweku Adoboli, the so-called rogue trader of UBS who lost $2.3 billion in unauthorized trades, went on trial in London, and the prosecutor said the scale of his gambling put ‘the very existence of the bank at risk.’
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By Marlene Y. Satter, AdvisorOne |
January 30, 2012
Kweku Adoboli, the former UBS trader arrested in September over losses of $2.3 billion, pleaded not guilty to all charges on Monday at a London hearing.
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By Janet Levaux, AdvisorOne |
November 17, 2011
UBS revealed plans Thursday to strengthen its wealth-management units while scaling down its investment bank and introducing new performance targets companywide.
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By Janet Levaux, AdvisorOne |
October 26, 2011
UBS said in early October that the co-heads of its global-equities unit resigned in response to the unauthorized trading that caused a $2.3 billion loss at the bank in mid-September. A former Bank of America-Merrill Lynch executive is now the sole leader of the unit. These shifts come on the...
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By Janet Levaux, AdvisorOne |
October 20, 2011
As further details emerge regarding its recent $2.3 billion trading loss, UBS interim CEO Sergio Ermotti has decided against spinning off or selling the investment bank and, instead, plans to reduce its size, especially in its fixed-income work.
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By Vaughan Scully, Standard & Poor's |
October 9, 2011
Despite their retail-friendly image today, ETFs were originally designed as a product for professional fund managers and institutional investors, and their involvement is still high.
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By Janet Levaux, AdvisorOne |
October 5, 2011
The arrest of UBS trader Kweku Adoboli last month has led to the resignations of Francois Gouws and Yassine Bouhara; Mike Stewart assumes leadership role for UBS equities.
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By Janet Levaux, AdvisorOne |
September 24, 2011
Ermotti fills in for Grübel as rival broker-dealers and recruiters lick their chops, in anticipation of a possible sale and the expectation that more advisors will leave
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By Marlene Y. Satter, AdvisorOne |
September 23, 2011
The board of UBS met in Singapore on Friday to consider what will be the future of the Swiss giant after trader Kweku Adoboli allegedly lost $2.3 billion in fraudulent activities. The future of its CEO, Oswald Greubel, also hangs in the balance.
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By Joyce Hanson, AdvisorOne |
September 16, 2011
UBS trader Kweku Adoboli was charged Friday with engaging in fraud and false accounting since 2008, and hired the lawyers who represented rogue trader Nick Leeson to defend him.