It’s not just the U.S.
Tag Archives: ubs
UBS settles secret accounts case with U.S.
UBS reports $1.75B first quarter loss
Swiss banking giant UBS confirmed a first quarter net loss of two billion Swiss francs ($1.75 billion) Tuesday and warned that the economy had continued to deteriorate despite a rebound in global stocks. In a statement, the Zurich-based bank said its losses were attributable to writedowns on risky investments now exited or being exited by its investment bank.
Shares in embattled UBS rally as CEO quits
Shares in Switzerland’s biggest bank UBS rallied on Thursday as Marcel Rohner announced his resignation, just weeks after announcing losses of nearly $17 billion — the largest ever by a Swiss group. Rohner is replaced by Oswald Gruebel, who served as CEO of rival Credit Suisse from 2003 until 2007. “With his previous employer Credit Suisse, Mr