UBS C-Suite Shuffle: Yoon to Run Asia
June 26, 2009 by Joseph McCafferty
UBS has suffered massive losses tied to the U.S. subprime-mortgage crisis. As a result, the bank has shaken up its executive team, the latest development being chairman and CEO of the bank’s Asia-Pacific business, Rory Tapner, stepping down effective immediately.
June 26, 2009 by Joseph McCafferty
UBS has suffered massive losses tied to the U.S. subprime-mortgage crisis. As a result, the bank has shaken up its executive team, the latest development being chairman and CEO of the bank’s Asia-Pacific business, Rory Tapner, stepping down effective immediately.
UBS Appoints Co-CEOs, Tightens Belt
April 27, 2009
Continuing its reorganizational effort, Swiss financial services group UBS has announced two new additions to its executive level, both of whom will serve as co-CEO for the company’s investment banking arm.
April 27, 2009
Continuing its reorganizational effort, Swiss financial services group UBS has announced two new additions to its executive level, both of whom will serve as co-CEO for the company’s investment banking arm.
BP Grants Some Pay Raises, Faces Dissent
April 17, 2009 by Joseph McCafferty
Barely half of BP’s shareholders backed the company’s 2008 pay packages at the company’s annual meeting.
April 17, 2009 by Joseph McCafferty
Barely half of BP’s shareholders backed the company’s 2008 pay packages at the company’s annual meeting.
First UBS Tax Evasion Arrest Made
April 3, 2009 by Joseph McCafferty
In what may prove to be the first of many instances, federal authorities arrested an American client of UBS for suspicion of illegal tax evasion.
April 3, 2009 by Joseph McCafferty
In what may prove to be the first of many instances, federal authorities arrested an American client of UBS for suspicion of illegal tax evasion.
Bonus Banking: A Better Way to Reward?
April 1, 2009 by Irv Becker
Placing part of a bonus risk and attaching strings may solve some incentive pay problems.
April 1, 2009 by Irv Becker
Placing part of a bonus risk and attaching strings may solve some incentive pay problems.
UBS Board Adds Three New Directors
March 17, 2009 by Joseph McCafferty
Swiss bank UBS has nominated three new financial mavens to its board of directors, in efforts to accelerate a company-wide restructuring.
March 17, 2009 by Joseph McCafferty
Swiss bank UBS has nominated three new financial mavens to its board of directors, in efforts to accelerate a company-wide restructuring.
Swiss Banks Concede Data Sharing
March 13, 2009 by Joseph McCafferty
Bowed but by no means broken, Switzerland has agreed to cooperate with the Organization for Economic Cooperation and Development (OECD) in abiding by international rules for the sharing of banking data.
March 13, 2009 by Joseph McCafferty
Bowed but by no means broken, Switzerland has agreed to cooperate with the Organization for Economic Cooperation and Development (OECD) in abiding by international rules for the sharing of banking data.
UBS Shuts Out the IRS
March 5, 2009 by Joseph McCafferty
UBS AG said yesterday that it will not turn over any more of the 52,000 customer identities being sought by the U.S. in a lawsuit that seeks to close in on tax evaders.
March 5, 2009 by Joseph McCafferty
UBS AG said yesterday that it will not turn over any more of the 52,000 customer identities being sought by the U.S. in a lawsuit that seeks to close in on tax evaders.
UBS Chief Rohner Resigns, Grübel Steps In
February 26, 2009 by Joseph McCafferty
UBS AG, the Swiss bank suffering from massive write-downs and its role in a U.S. tax-evasion scheme, announced the latest shake-up in its top executive ranks with the surprise departure of CEO Marcel Rohner.
February 26, 2009 by Joseph McCafferty
UBS AG, the Swiss bank suffering from massive write-downs and its role in a U.S. tax-evasion scheme, announced the latest shake-up in its top executive ranks with the surprise departure of CEO Marcel Rohner.
UBS Lures Brokers With Bonuses
February 3, 2009 by Joseph McCafferty
UBS AG, the Swiss bank under investigation for allegedly helping wealthy Americans evade taxes, hired more than 200 brokers in the U.S. in the fourth quarter as it sought to counter client defections.
February 3, 2009 by Joseph McCafferty
UBS AG, the Swiss bank under investigation for allegedly helping wealthy Americans evade taxes, hired more than 200 brokers in the U.S. in the fourth quarter as it sought to counter client defections.
SEC Reaches Accord With UBS, Citigroup
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
December 12, 2008 by Joseph McCafferty
In a twist on current market themes, two international financial firms will actually be taking back bad investments from purchasers who were misled as to the liquidity of the purchased assets.
Citi’s Board: In Crisis?
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
November 25, 2008 by Joseph McCafferty
Since CEO Vikram S. Pandit joined Citigroup, the company has struggled to be independent. In a bailout plan with the U.S. government, Citi’s 15-member board of directors agreed to certain restrictions on and review of certain executive compensation. The bank will also put in place the Federal Deposit Insurance Corporation’s loan modification plan, similar to one it recently announced.
UBS Tax Dodgers Coming Forward
November 24, 2008 by Joseph McCafferty
Come out from the shadows, UBS tax dodgers; all is (sort of) forgiven.
November 24, 2008 by Joseph McCafferty
Come out from the shadows, UBS tax dodgers; all is (sort of) forgiven.
Cuomo Threatens AIG Over Bonuses
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
November 19, 2008 by Joseph McCafferty
Andrew Cuomo extended a harsh warning to the executives of AIG yesterday, threatening legal action if the ailing insurer goes ahead with executive bonuses this year after having taken $123 billion of the government’s money in efforts to revive itself.
UBS Adopts New Executive Pay Model
November 18, 2008 by Joseph McCafferty
Swiss bank UBS cut bonuses for top executives on Monday and will implement a more transparent pay system.
November 18, 2008 by Joseph McCafferty
Swiss bank UBS cut bonuses for top executives on Monday and will implement a more transparent pay system.
Indictments Loom in UBS Case
November 11, 2008 by Joseph McCafferty
A federal inquiry into multiple allegations of tax evasion could lead to indictments for American account holders at UBS, the Swiss banking giant accused of enabling illegal tax dodges.
November 11, 2008 by Joseph McCafferty
A federal inquiry into multiple allegations of tax evasion could lead to indictments for American account holders at UBS, the Swiss banking giant accused of enabling illegal tax dodges.
Former UBS Counsel to Pay $6.5 Million
October 8, 2008 by Joseph McCafferty
David Aufhauser, a former general counsel for UBS, agreed yesterday to pay out $6.5 million to settle charges that he had used insider information to manipulate the sales of auction-rate securities (ARS) last December.
October 8, 2008 by Joseph McCafferty
David Aufhauser, a former general counsel for UBS, agreed yesterday to pay out $6.5 million to settle charges that he had used insider information to manipulate the sales of auction-rate securities (ARS) last December.
UBS: Not for Sale
August 18, 2008 by Joseph McCafferty
Despite recent setbacks, UBS chairman Peter Kurer insists that the Swiss bank will still be independent in two years' time.
August 18, 2008 by Joseph McCafferty
Despite recent setbacks, UBS chairman Peter Kurer insists that the Swiss bank will still be independent in two years' time.
Auction-Rate Buybacks Reach $48B
August 15, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley joined other Wall Street banks in agreeing to repurchase auction-rate securities. These latest payments bring the total amount of the industry buyback to $48 billion.
August 15, 2008 by Joseph McCafferty
JP Morgan Chase and Morgan Stanley joined other Wall Street banks in agreeing to repurchase auction-rate securities. These latest payments bring the total amount of the industry buyback to $48 billion.
UBS Directors Aware of Breach?
August 14, 2008 by Joseph McCafferty
Senior executives at Swiss bank UBS knew at least three years ago that the firm was in violation of U.S. securities laws.
August 14, 2008 by Joseph McCafferty
Senior executives at Swiss bank UBS knew at least three years ago that the firm was in violation of U.S. securities laws.