Penalty is, to date, the third largest levied by the UK regulator
Major Chinese entities and international banks are steeling themselves for a protracted battle on multiple fronts related to the use of over-the-counter derivatives. The confrontation is killing business and preventing some Chinese entities from hedging...
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.