UBS

  • 26 Mar 2014 at 4:03 PM

UBS Tells Three FX Traders To Take Five

…while the firm tries to figure out if the trio engaged in any currency rigging. Read more »

  • 14 Mar 2014 at 4:11 PM

UBS Tried, And Failed, To Rig Hong Kong Interest Rate

…which elicited an utterly delightful response from the bank that sounds a lot like something the parents of a juvenile delinquent would say if it came out that their kid tried to burn down a building but was too high to light the match. Read more »

  • 27 Feb 2014 at 5:18 PM
  • Banks

Don’t Call Them A Foreign-Exchange Powerhouse

UBS, like JPMorgan Chase and Morgan Stanley before it, has struck upon the idea that if it’s not in the Euromoney FX league tables, regulators won’t notice all of the (allegedly) illegal currency-related things it does. Read more »

  • 04 Feb 2014 at 3:12 PM
  • Banks

Bonus Watch ’14: UBS

A rising tide is lifting all boats in Zürich. Read more »

“Life is hard enough, and I think this constant lecturing on ethics and on integrity by many stakeholders is probably the most frustrating part of the equation. Because I don’t think there are many people who are perfect,” Mr. Ermotti said in an interview at the World Economic Forum in Davos, Switzerland. “We are far from being perfect…but it’s not going to be very helpful to be constantly bashing banks.” [...] Mr. Ermotti, a Swiss native who has spent his entire career in the banking industry, said he is growing frustrated with what he sees as some regulators, politicians, shareholders, clients, journalists and rival banks holding UBS to a higher standard than they hold themselves. “When I look around, I don’t think there are many banks that can come to us and say they are the example that should be followed,” he said. Speaking of a broader group of industry “stakeholders,” including regulators and politicians, Mr. Ermotti said: “None of them can be overly critical.” [WSJ]

  • 13 Jan 2014 at 4:31 PM

Bonus Watch ’14: Everyone

Pay predictions for Credit Suisse, Deutsche Bank, Goldman Sachs, JP Morgan, RBS, UBS. Read more »

UBS chairman Axel Weber has hinted he may not stay at the Swiss bank as long as originally expected, in a newspaper interview linking his future with the lender’s ability to meet stricter regulation as well as to restructure by end-2015. “My work here is done when the bank is prepared for the new regulatory requirements and we have successfully implemented our strategy,” Weber told German weekly Die Zeit, in an advance print made available on Wednesday. The Swiss bank aims to hit higher capital requirements by the end of 2014, and said two years ago it plans to fire 10,000 staff and largely wind down its fixed income business by 2015. Weber’s comments represent a subtle shift for the 56-year-old former head of Germany’s central bank, who responded to criticism of his 4 million Swiss franc ($4.50 million) signing-on fee in 2012 in part by saying he was looking to stay with UBS roughly 10 years. [Reuters]