Markets

Rogue Trader Jerome Kerviel Is Back And He’s Got Evidence Against Soc Gen

Look who’s fighting back: Jérôme Kerviel, the meek-looking French guy who became famous in January 2008 as the junior trader who’d lost €4.9 billion at French mega-bank Société Générale. Accused of a litany of shenanigans, from unauthorised trading to hacking into SocGen’s computers, he was condemned in 2010 to five […]
Rogue Trader Jerome Kerviel Is Back And He’s Got Evidence Against Soc Gen
Markets

UK’s FSA Could Fine And Ban Senior UBS Bankers In Rogue Trade Probe

[credit provider=”AP Images”] It’s been several months since the unexpected $2.3 billion loss at UBS believed to be caused by a lone rogue trader in the bank’s London office and now the U.K.’s Financial Services Authority has decided to launch a formal investigation, The Guardian reported.According to the report, the […]
UK’s FSA Could Fine And Ban Senior UBS Bankers In Rogue Trade Probe
Markets

The Rogue UBS Trader’s ‘Not Guilty’ Plea Means Only One Thing For UBS

[credit provider=”AP Images”] Kweku Adoboli, now known by many as the UBS rogue trader, pleaded not guilty this morning in London court to charges that his unauthorised trading activities resulted in a $2.3 billion loss.Since Adoboli’s arrest in September, the $2.3 billion loss has already put a dent in UBS’ 2011 earnings, […]
The Rogue UBS Trader’s ‘Not Guilty’ Plea Means Only One Thing For UBS
Markets

UBS CEO RESIGNS

[credit provider=”AP”] UBS CEO Oswald Gruebel has resigned over the recent rogue trading scandal that cost the beleaguered bank $2.3 billion.Europe head Sergio Ermotti, who had been considered a potential candidate to run the bank, will be stepping in as interim CEO.
UBS CEO RESIGNS
Markets

UBS Must Be Staffed With Idiots

[credit provider=”en.wikipedia.org” url=”http://en.wikipedia.org/wiki/File:Juan_de_Miranda_Carreno_002.jpg”] Perhaps the aristocratic heritage of Swiss banking has generated their version of Charles II of Spain. That’s the poor, misshapen sap to the right with only 2 great-great-great-great grandparents, a family tree that converges. I wrote a rather fawning post complimenting UBS on their candor and perception […]
UBS Must Be Staffed With Idiots
Markets

GOSSIP: Today’s Wall Street Buzz in 60 Seconds

[credit provider=”Julia La Roche for Business Insider”] After the $2.3 billion loss from the alleged rogue trade, UBS’s investment bank head Carsten Kegenter sent a pep talk memo out to his employees.Interesting: Maureen Miskovic, the chief risk officer at UBS, was previously the head of risk at Lehman Brothers.
GOSSIP: Today’s Wall Street Buzz in 60 Seconds
Markets

Why A Great Wall Street Underdog Story Might Be Over

Young finance majors and MBA candidates dream of landing a high-paying trading gig with a bulge bracket Wall Street investment bank. However, positions are extremely limited and are often reserved for those with top grades at top-rated universities.
Why A Great Wall Street Underdog Story Might Be Over
Markets

What Investment Banks Need To Do To Get a Grip On Risk and Surveillance

In Star Trek: The Next Generation, when Captain Jean-Luc Picard says “make it so”, ‘it’ usually happens. If life were that simple, regulators around the world could tell capital markets participants to get a grip on trading risks. Regulators could utter the phrase “make it so” and traders, risk and […]
What Investment Banks Need To Do To Get a Grip On Risk and Surveillance
Markets

UBS Trader Hires Same Law Firm That Represented Nick Leeson

The alleged UBS rogue trader Kweku Adoboli hired the same law firm that represented the infamous rogue trader Nick Leeson, Bloomberg BusinessWeek reported.Adoboli hired lawyers from Kingsley Napley LLP, the same firm that represented Leeson, a derivatives broker at Barings Bank where his unauthorised trading on Nikkei futures accumulated losses […]
UBS Trader Hires Same Law Firm That Represented Nick Leeson
Markets

What Happens Next At The UBS Investment Bank?

[credit provider=”UBS” url=”http://www.ubs.com/1/e/investors/corporategovernance/groupexecutiveboard.html”] Yesterday’s unexpected news of a UBS rogue trader losing $2 billion has added yet another blow to the embattled Swiss bank’s employees and shareholders.Now many are left wondering what will happen to UBS’s investment bank business?
What Happens Next At The UBS Investment Bank?
Markets

A Deeper Look At The Dire Bonus Situation At UBS

[credit provider=”AP”] About a month and a half ago, the buzz was that, “the UBS investment bank is f$%^ed.“The firm has been facing challenges due to the regulations expected to be imposed by their homeland country, Switzerland.
A Deeper Look At The Dire Bonus Situation At UBS
Markets

GOSSIP: Today’s Wall Street Buzz in 60 Seconds

Goldman Sachs will shutting down its Global Alpha hedge fund at the end of October.Monroe Beachy, 77, who was dubbed earlier this year as the “Amish Bernie Madoff,” has been officially charged with defrauding thousands of Amish residents with his Ponzi scheme. 
GOSSIP: Today’s Wall Street Buzz in 60 Seconds
Markets

Matt Taibbi Calls BS On UBS

The shocking news of a UBS rogue trader losing the Swiss bank whopping $2 billion left many scratching their heads wondering ‘how this could possibly happen?’Rolling Stone’s Matt Taibbi says the reason it happened is banks have been “lying their asses off over the last three years, when they all […]
Matt Taibbi Calls BS On UBS
Markets

Rogue Traders: Just Be Glad You Don’t Live In China

[credit provider=”AP”] The accused UBS rogue trader Kweku Abodoli should be thankful he doesn’t live in China.Abodoli was arrested Thursday by London police for causing the embattled Swiss bank to lose $2 billion because of his unauthorised trades.
Rogue Traders: Just Be Glad You Don’t Live In China
Markets

The Most Notorious Rogue Traders In History

[credit provider=”Vincent Diamante, Flickr” url=”http://www.flickr.com/photos/[email protected]/2255718951″] Today UBS unexpectedly announced a rogue trading scandal adding yet another blow to the embattled Swiss bank.Kweku Adoboli, 31, was arrested by police in London for his alleged rogue trading scheme that lost UBS a whopping $2 billion. 
The Most Notorious Rogue Traders In History
Markets

Bonuses: UBS Employees “Just Got Sacked In The Nuts”

[credit provider=”www.legendfc.com” url=”http://www.legendfc.com”] About a month and a half ago someone told us, “the UBS investment bank is f$%^ed.“It’s been coming true ever since and today, some startling news hit that makes it looks like that’s even more of a reality. 
Bonuses: UBS Employees “Just Got Sacked In The Nuts”