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
UBS AG announced today that its global equities business is launching a new alternative trading system for crossing orders in US stocks.The firm said that the new crossing pool will enable client orders to interact with UBS’s US equity order flow – including client agency flow and its trading desks. It trades around 690 million […]
Swiss banking group posts Q1 loss
Chairman Ospel to step down
Measure designed to improve corporate governance
Zurich-based bank sees a tough year ahead
Johansson joins executive team
Weak results reflect losses on U.S. subprime mortgages