UBS
Société Générale gets a cash infusion
Société Générale (SG) is the latest of several banks to raise money through the capital markets after suffering multibillion-dollar losses. Unlike several Wall Street banks issuing mandatory convertibles, the French bank will sell stock and give current…
Indexes emerge
Emissions Trading
Step up to the bar
Energy and Commodity Rankings 2008: Metals
UBS startles market with $14 billion writedown
UBS revealed this morning that it had taken even more damage from the US subprime debacle than it expected, with writedowns totalling $14 billion.
Agencies rethink market risk rating methods
The three largest global rating agencies are reconsidering their approach to rating structures exposed to fluctuations in market value, with potentially unpalatable results for holders and arrangers of various structured credit products.
UBS launches Greenhouse Index
UBS will launch its UBS Greenhouse Index (UBS-GHI) on January 23. It is a tradable investment benchmark tracking a combination of weather futures and greenhouse gas emissions credits.
CPDO ratings hang in the balance
Investors in constant proportion debt obligations (CPDOs) were given an unwanted early Christmas present by rating agencies, as Standard & Poor’s (S&P) and Moody’s Investors Service put the ratings of CPDO notes on review for a possible downgrade.
Custard to lead UBS GAM's global investment solutions
UBS Global Asset Management (UBS GAM) has named Curt Custard as head of its global investment solutions division. Custard joins UBS GAM from Schroders, where he was global head of multi-asset solutions, a position he had held since 2004.
UBS reports further $10 billion subprime writedowns
In its revised fourth-quarter outlook, UBS has changed its prediction for its results from profit to loss. This includes additional writedowns of $10 billion related to US subprime mortgage exposures.
Moody's lowers UBS rating due to subprime fears
Rating agency Moody's has cut UBS's bank financial strength rating (BSFR) from A- to B+, saying the bank still has more subprime losses to reveal.
UBS names new heads of commodities
UBS has named two replacements for its previous head of commodities, Peter Ghavami, who left the bank in October.
Setting the scene
Scenario analysis is often used to plug the gaps that conventional data can't fill. But it might have more to offer. Duncan Wood investigates
UBS warns of continuing subprime risk
UBS has suffered significant losses from writedowns on asset-backed and mortgage-backed securities, and warns it remains exposed to further problems in the US housing and mortgage market.
Wachovia hires SocGen equity derivatives banker
Michael Collins has joined Wachovia Securities as head of its corporate equity derivatives origination team.
UBS takes $3.4 billion hit
UBS will report losses of Sfr4 billion ($3.4 billion) in its fixed income, rates and currencies division for the third quarter ending September 30. The write-downs were due to legacy positions from Dillon Read Capital Management, an internal hedge fund…
Olson and Goldshmidt join RBC in emerging markets
RBC Capital Markets has appointed Eric Olson and Ron Goldshmidt in emerging markets trading.
UBS replaces global head of fixed income
Andre Esteves has been appointed global head of fixed income at UBS after the departure of predecessor Simon Bunce.
UBS launches multistrategy commodity platform
UBS has launched an algorithmic trading platform for commodities, the UBS Commodities Portfolio Algorithmic Strategy System (Comm-PASS).
The risk information challenge: Bringing technology to bear
A roundtable discussion hosted by OpRisk&Compliance and sponsored by BearingPoint explored the difficulties around obtaining robust risk information and disseminating intelligence back into the organisation. Moderated by Ellen Davis
Rohner crowned UBS chief amid boardroom disagreement
Marcel Rohner, a former chief risk officer, has been made group chief executive of UBS, after the bank’s board rejected the planned accession of Peter Wuffli to the post of chairman.
Credit Suisse poaches private bankers from UBS in Asia, loses Hong Kong branch manager
Credit Suisse has hired several senior private bankers in the Asia-Pacific region, most of whom are from UBS Wealth Management, but has lost its private banking branch manager in Hong Kong, Enid Yip, who resigned for personal reasons.