Swiss banking giant issues warning on fourth quarter
U.S. will suffer most
Swiss firm to exit commodities, downsize real estate and securitization and proprietary trading, among others
Bank to split investment bank unit from wealth management
UBS AG is the latest firm to reach a settlement over its sale of auction rate securities.The firm said it has reached a deal, in principle, with the New York state attorney general, the Massachusetts Securities Division, the US Securities and Exchange Commission, and other state regulatory agencies represented by North American Securities Administrators Association, […]
Investment bank losses offset by wealth-management gains
Central banks believe U.S. interest rates will fall: survey
UBS says that it will close its investment bank’s institutional municipal securities business by winding it down, rather than trying to sell it.The exit of the institutional municipal securities business is part of UBS’s ongoing efforts to reposition its Fixed Income, Currencies and Commodities business to focus on core business areas. UBS said it explored […]
UBS AG announced the terms of its planned new issue to raise almost 16 billion Swiss francs ($15.3 billion) in fresh capital.Shareholders will be allotted one subscription right for each existing share held. The exercise of 20 subscription rights will entitle the holder to subscribe for seven new shares at a price of CHF 21.00 […]
Bank moves to strengthen risk control function