UBS
Safe haven
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
European credit head leaves UBS
Henrik Raber, London-based co-head of European credit flow trading and sales at UBS, has left the bank.
UBS replaces head of investment banking
UBS has replaced its head of investment banking, Jerker Johansson, after 13 months in the role.
Trading and technical gains outweigh loan losses in Q1
Strong trading results have offset large loan losses as banks report a mixed bag of first-quarter results.
UBS continues losing streak into Q1
UBS will make a SFr2 billion ($1.75 billion) loss for the first quarter of 2009, the firm's chief executive, Oswald Grübel, predicted at the bank's annual general meeting in Zurich on April 15.
Swiss banks reveal record money-laundering levels
Daily news headlines
UBS hires Credit Suisse banker for its executive board
UBS has appointed Credit Suisse's Ulrich Körner as group chief operating officer (COO) and chief executive of its corporate centre.
Market frustrated by lack of detail on US toxic-asset purchase plan
Economists and analysts have criticised the US Treasury's updated toxic-asset purchase plan for again failing to provide the granular detail or specified launch date necessary to reassure capital markets the proposals will indeed help curb the global…
Board reshuffle at UBS
Swiss bank UBS, which last week announced a Sfr20.9 billion ($18.03 billion) loss for 2008, plans to significantly restructure its 12-strong board of directors next month.
Dealer interest delays LCH.Clearnet and DTCC deal
The Depository Trust & Clearing Corporation (DTCC) has pushed back the deadline for its takeover talks with LCH.Clearnet, in the face of a rival bid from a group of major dealers.
UBS admits Sfr20.9 billion loss for 2008
Swiss bank UBS recorded a bigger-than-expected net loss of Sfr20.9 billion ($18.03 billion) for 2008, driven by losses and writedowns on exposures to US real estate assets.
UBS's chairman to follow CEO out
UBS' chairman Peter Kurer will not stand for re-election at its next annual general meeting on April 15.
Speculation over regulation mounts as Madoff lawsuits rack up
European investment funds are preparing to face tighter regulation in the wake of the Madoff scandal.
UBS replaces CEO
UBS named Oswald Grübel as its new group chief executive today after Marcel Rohner left the bank.
LCH.Clearnet bid sparks conflict-of-interest debate
A proposal by a consortium of major derivatives dealers to acquire London-based clearing house LCH.Clearnet has led to suggestions that banks becoming intimately involved in the clearing process could present a conflict of interest.
LSE may join LCH.Clearnet bid consortium
The London Stock Exchange (LSE) today confirmed that it is "looking closely" at joining the consortium of financial institutions bidding for London-based clearing house LCH.Clearnet.
Financial CDSs widen worldwide
Fading investor confidence in the stability of financial institutions has caused the cost of credit protection on banks across the globe to increase over the past 24 hours.
UBS credit derivatives head departs
The head of credit derivatives for UBS, Keith Grimaldi, has left the bank.
Banks agree to EU CCP for clearing CDS
Nine major dealers agreed to use an EU central counterparty (CCP) for clearing trades in credit default swaps (CDSs) today, paving the way for talks to resume with the European Commission.
Steinberg leaves BNP Paribas
Todd Steinberg, New York-based head of equity and commodity derivatives for the Americas at BNP Paribas, has resigned from the bank.
US and European firms in bid for LCH
A consortium of major US and European financial institutions is lining up a bid for London-based derivatives clearing house LCH.Clearnet. Deutsche Bank is acting as adviser on the acquisition, as well as being part of the bidding group.
Q4 loss of Sfr8.1 billion for UBS
Swiss banking giant UBS reported a fourth quarter net loss of Sfr8.1 billion ($7 billion), bringing its full-year net losses to Sfr19.7 billion. The bank also revealed $16.4 billion of illiquid credit assets had been transferred to the Swiss National…
SNB issues US dollar debt to fund UBS's bad bank
The Swiss National Bank (SNB) will auction its own debt certificates in US dollars to finance its loan to the SNB Stabfund.
