UBS and Merrill Lynch lose energy traders

- By Risk Staff
- 01 May 2008

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

Subprime mortgage-related write-downs at investment banks UBS and Merrill Lynch have finally hit their energy trading arms, with a number of traders resigning or being made redundant in recent weeks.

Merrill Lynch was reported to have fired 10 crude oil and oil-products traders in Houston and London at the end of April, representing a 10% reduction in oil and oil-product traders at the company. This followed the bank reporting a first-quarter net loss of $1.96 billion, or $2.19/share, compared to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to print this content. Please contact info@risk.net to find out more.

You are currently unable to copy this content. Please contact info@risk.net to find out more.

You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net

You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/

If you would like to purchase additional rights please email info@risk.net