Adoboli’s ETF desk was an ‘oasis of profit’

ubs-zurich

The exchange-traded funds (ETFs) desk where accused rogue trader Kweku Adoboli worked was an "oasis of profit" at UBS, a jury at Southwark Crown Court in London heard today.

The desk made over $60 million in profit during the first half of 2011. In comparison, the total profit for the ETF desk in 2010 was $11.5 million.

Charles Sherrard, the defence barrister, told a court today that the desk was "a model for the bank" in terms of profitability and success.

"Kweku Adoboli was the main reason

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