Posted by Reuters: Business News on February 7, 2012
ZURICH (Reuters) – Swiss bank UBS posted a loss at its investment bank and warned that the unit’s poor performance would also affect first-quarter results as the euro zone debt crisis and worries about the health of the U.S. economy hurt business.
Posted by Reuters: Business News on November 15, 2011
ZURICH (Reuters) – Credit Suisse Group AG will fully integrate private bank Clariden Leu into its organization, ending the 250 year-old Leu brand and cutting jobs to achieve 200 million Swiss francs ($220 million) in annual cost savings.
Posted by Reuters: Business News on November 1, 2011
ZURICH (Reuters) – Credit Suisse will cut another 1,500 jobs and scale back its capital-guzzling investment banking business as it seeks to meet tough new regulations ahead of other banks after the unit reported disappointing third-quarter results.
Posted by Reuters: Business News on October 5, 2011
LONDON/ZURICH (Reuters) -The two heads of the UBS division that caused a $2.3 billion loss stepped down on Wednesday as an internal investigation into the trading scandal showed risk systems had detected unauthorized activity but failed to respond.
Posted by Reuters: Business News on September 23, 2011
SINGAPORE/ZURICH (Reuters) – The board of UBS extended on Friday its meeting amid the glamour of Singapore’s Grand Prix event to decide the future of its scandal-hit investment bank and CEO Oswald Gruebel, on whose watch it lost $2.3 billion in alleged rogue trading.
Posted by Reuters: Business News on September 16, 2011
ZURICH (Reuters) – Swiss bank UBS is expected to shrink its investment bank business — source of a $2 billion rogue trading loss — and could fire senior executives as it tries to retain worried private clients and avert a ratings downgrade.
Posted by Reuters: Business News on September 6, 2011
ZURICH (Reuters) – Switzerland is set to partially meet a U.S. ultimatum and deliver an estimate of the amount of assets held by U.S. residents in secret accounts at Swiss banks, possibly up to $30 billion, a newspaper reported on Tuesday.
Posted by Reuters: Business News on September 5, 2011
ZURICH (Reuters) – The United States has written to Switzerland to demand it hands over detailed information this week on its citizens using Swiss accounts to dodge tax or see Credit Suisse and nine other banks face charges, newspapers reported on Sunday.
Posted by Reuters: Business News on May 26, 2011
ZURICH (Reuters) – UBS is planning to relocate its investment bank outside Switzerland, the Wall Street Journal said, to side-step tough new local bank regulations and better deploy its capital.
Posted by Reuters: Business News on December 27, 2010
ZURICH (Reuters) – Global banking supervisors tackling issues like bonuses, which drew ire during the economic crisis, said banks should disclose how an individual’s pay is linked to the firm’s…
