Op risk data: UBS takes a giant Greensill pill
Also: Nasdaq insider trading rap; Trafigura travesty; further Citi fat-finger fail. Data by ORX News
UBS sustained June’s largest operational risk loss with a $900 million Greensill Capital-related provision. The set-aside will repay investors in Credit Suisse funds linked to the former supply-chain-finance firm.
Greensill collapsed in March 2021, resulting in estimated losses of around $2.3 billion for Credit Suisse. When UBS took over its Swiss rival in 2023, it inherited litigation brought by
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