UBS

Remember Juerg Buergin? Former UBS executive, brown hair, rimless glasses, about yea high? Goes by the name Robert James when seeing the services of prostitutes? Tried to argue that the 17 year-old hooker he banged during his time in Singapore tricked him into thinking she was 18, which he and his lawyer backed up by point to all the women he paid to have sex with who were between the ages of 20 and 43? He’s going to spend some time in jail. Read more »

Time was, you could count on Swiss banks to assist their clients in the business of not paying taxes, having practically written the book on how to go about keeping one’s assets a secret from prying eyes (Chapter 1: Discarded toothpaste containers make a great place to stash diamonds). Now? Not only are they no longer providing the service, they’re suddenly too good to associate with people whose hands aren’t clean. Read more »

Thanks but no. Read more »

Let the outflow begin: as of last week, headhunters say UBS’s investment banking staff have banked their (allegedly paltry) cash bonuses for 2012 and are ready and willing to leave the bank. “Cash bonuses hit their accounts on March 25th,” one fixed income headhunter told us, speaking on condition of anonymity. “A lot of UBS fixed income people are trying to leave and already under offer. You will see around 20% of their fixed income people leaving over rest of this year,” he predicted. [eF]

  • 26 Mar 2013 at 10:22 AM

UBS to SEC: Let’s Make A Deal. Maybe.

UBS would like to make a mortgage-backed securities case—apparently linked to every other mortgage-backed securities case—go away. Read more »

Juerg Buergin, a former UBS AG executive, must face trial on charges he paid for sex with an underage prostitute in Singapore, a judge ruled. Based on the evidence presented, the prosecution “has satisfied every ingredient of the charge,” Singapore subordinate courts judge Eddy Tham said at a hearing today…Buergin, who used the name Robert James to communicate with the woman’s pimp, also sought the services of at least 10 other women between ages 20 and 43, his lawyer Selva Naidu has said. Buergin was a victim of a conspiracy between the underage prostitute, who used the moniker Chantelle, and her pimp, who misled him into believing she was 18, the lawyer said. “I wanted to protect my reputation,” Buergin said at today’s hearing, referring to why he used the name Robert James to communicate with the pimp. “I didn’t want the escort agency to know my real name.” He said he texted the pimp using a mobile phone issued by UBS for work purposes. [Bloomberg, earlier]

Juerg Buergin only pays of age women for sex, ergo that girl took advantage of him, says lawyer. Read more »

  • 14 Mar 2013 at 2:50 PM

Bonus Watch ’13: UBS

Not everyone received a package that resulted in a nice long cry. Andrea Orcel, for example, did pretty okay for himself. Read more »