Swiss banking giant UBS AG today announced a likely third-quarter loss, and a management shakeup, as it was hit by sub-prime woes. UBS said that following a write down of positions in fixed income, rates and currencies, it is likely to record a pre-tax loss of between 600 million and 800 million Swiss francs. It […]
Firm cites ongoing market volatility in third quarter
Bank expects lower profits in second half of 2007
UBS will reimburse customers US$21.3 million and pay a US$2 million penalty for inappropriately steering customers into fee-based accounts
Rohner appointed group CEO, effective immediately
UBS has launched a major climate change research initiative, focusing on the implications for financial markets of reactions to climate change. In 12 coordinated research notes and four webcasts, UBS told its clients that no sector will be untouched by the climate change debate, but reactions will be felt differently. The research surmises, “Forget the […]
Unwinding of the carry trade is imminent, says UBS Global Asset Management
Maclean-Howard based in Toronto
US$115 deal will settle litigation related to equity derivative contract payments
Gains from the Julius Baer stake will be used to buy back shares in the coming months as part of UBS’s share repurchase program