UBS has hired 17 people for its fixed-income, currency and commodities (FICC) division, which has been a main contributor to the bank's losses in recent quarters.
Market sentiment towards financials has been varied in the past week as more second-quarter bank results were announced.
UK and European banks have posted positive latest second-quarter results, led by strong investment banking revenues - but suffered from tightening credit spreads.
Own credit risk - the concept of including the credit risk of an institution in the measurement of the liabilities it issues - had a significant impact on banks' profits in the first half of 2009, as credit default swap (CDS) spreads referencing banks'...
Top Spanish, German and Swiss banks have reported modest gains in the second quarter, although their profits have been constrained by an increase in non-performing loans and loan loss provisioning.
Stuart Hendel and Mitch Moore have joined UBS as global head of prime brokerage and global head of exchange-traded derivatives, respectively.
UBS has merged its fixed income, currencies and commodities (FICC) and equity quantitative analysis teams, bringing them under the umbrella of the newly created investment banking (IB) quantitative analysis group, according to a leaked internal memo.
Markets in the Nordic region have been far from immune from the troubles that have hit structured products across Europe. But speakers and delegates at the Structured Products Nordic Region conference spoke of light on the horizon - despite the pressing...
Citi issued two reverse convertible products in the US market yesterday in a cautious offering of the riskier structures. The notes link to the stock of either JP Morgan or Research in Motion, which makes BlackBerry devices, lasting one year and six months...
RBC Capital Markets has hired Carmine Meoli as head of Private Banking Solutions Sales and Arif Hussein and Peter Drewienkiewicz as directors in its growing rates sales and trading team.
The US foreign exchange prime brokerage business of AIG Financial Products (AIG FP) has been transferred to BNP Paribas, along with eight staff.
The Swiss National Bank (SNB) may impose size limits on Credit Suisse and UBS due to "unique" systemic risks in the Swiss financial system, it revealed on June 18.
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Credit Suisse has appointed Min Park and Ken Pang as co-heads of equity derivatives and convertibles for the Asia-Pacific region. Both men will be based in Hong Kong and report to Osama Abbasi, head of Asia-Pacific equities.
Rupert Brindley has left UBS, where he was a managing director focussing on risk management and liability-driven investment strategies.
Rajeev Misra has joined UBS as global head of credit.
Market sentiment towards US banks improved today, with the cost of credit protection on six of the nation's largest financial institutions falling. The move came on the same day Bank of America (BoA) was reported to have raised $7.3 billion from selling...
The cost of credit protection on European banks remained largely unchanged this morning, as bank holidays in mainland Europe reduced trading levels.
An auction is to be held to settle credit derivatives linked to Syncora, the monoline formerly known as XL Capital Assurance, after a committee declared a credit event to have occurred on the firm on May 1.
Gold has been a favourite with investors looking for a safe haven since last year’s turbulence began. But will this persist in 2009, or will the precious metal start to lose its shine as a hedging option? Pauline McCallion finds out
Henrik Raber, London-based co-head of European credit flow trading and sales at UBS, has left the bank.