Adoboli jury hears of 2011 culture shift at UBS


Accused rogue trader Kweku Adoboli's former line manager at UBS, Ron Greenidge, admitted today at Southwark Crown Court that there was "flexibility" in risk limits placed on traders.

Greenidge, at the time the manager of UBS's exchange-traded fund (ETF) desk, acknowledged he had not confronted Adoboli, one of his traders, when he admitted he was going home leaving the bank with a long position worth $40 million, despite an overnight risk limit of $25 million on the ETF trading desk. During an

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