Displaying 388 results
Suit against UBS may hurt U.S. business
UBS Wealth Management Americas might end up taking a financial hit because of its parent's headline-grabbing legal brawl with the U.S. government.
Embattled UBS chairman Kurer steps down
UBS AG said Wednesday that former Swiss President Kaspar Villiger will replace Peter Kurer as chairman of the board next month in an attempt to bring the bank back to profitability and deal with a major U.S. tax evasion probe.
Senate to grill UBS official
UBS AG official on Wednesday will face questions from a Senate panel for the first time since the bank acknowledged helping tens of thousands of American clients hide assets from the U.S. government.
Justice Dept. chastises UBS chairman over IRS fraud probe
In the most direct evidence yet tying UBS Chairman Peter Kurer to oversight failures at the Swiss bank, the U.S. Justice Department last month criticized as inadequate an internal investigation that he supervised.
UBS chairman may be tied to alleged IRS fraud
UBS Chairman Peter Kurer sat on a high-level 2002 corporate committee accused by U.S. prosecutors last month of “knowingly” withholding information relating to its obligations to report on American taxpayers’ secret accounts.
Analyst: New UBS chief may sell PaineWebber
Oswald Grubel, the new chief executive of beleaguered UBS AG will likely will take a “fresh, hard look” at the Swiss banking giant’s retail-brokerage business.
UBS replaces CEO with former Credit Suisse head
Troubled Swiss banking giant UBS AG suddenly replaced its CEO on Thursday, appointing the former head of crosstown rival Credit Suisse Group — to take over.
Wealthy Americans sue UBS to keep names secret
Pressure on UBS not to reveal to the Internal Revenue Service the names of 52,000 American clients with offshore banking accounts intensified yesterday.
More broker-dealers join hiring protocol
A growing number of independent brokers and advisory firms are joining the industry's recruitment protocol to take advantage of a ripe hiring market.
UBS Shares dropped 15%
Commentators in Switzerland voiced their anger at the bank's business practices and what they saw as heavy-handed treatment by U.S. authorities.
UBS fined $780 million in tax evasion scandal
UBS AG will pay $780 million in fines, interest and restitution to avoid U.S. prosecution on charges that it helped wealthy Americans evade taxes.
U.S. sues UBS over identities of 52,000 American clients
The U.S. sued UBS AG today in an effort to get the Swiss bank to turn over the names of as many as 52,000 wealthy Americans who allegedly tried to evade taxes.
UBS Financial Services: Is a spinoff in its future?
Questions are swirling about the future of UBS Financial Services Inc. and the brokerage industry is of two minds about what's next. One camp is convinced the New York-based firm is here to stay while the other believes it will be sold off.
UBS to split wealth business; Hoekstra to lead in Americas
After posting another massive loss today, the Swiss bank UBS AG said it will reorganize its wealth management businesses.
House committee explores payouts at brokerage firms
In the shadow of the Obama administration's efforts to curb compensation for top executives at bailed-out financial institutions, lawmakers are examining payouts at the retail-brokerage operations of those firms.
Report: UBS talking joint venture with Wachovia
Wachovia Securities LLC and UBS Financial Services Inc. of New York have engaged in preliminary talks about a joint venture for their retail-brokerage units, according to a report in today’s New York Post.
PE firms are likely suitors for AIG asset unit
With AIG shedding a number of its businesses to pay back government loans, its money management unit — which runs more than $111 billion in global assets for external retail and institutional clients — appears to be the next business to be put on the block by the distressed insurance giant.
UBS wealth unit snags high-earning teams
Continuing its recruiting initiative to bolster its financial adviser lineup, UBS Financial Services has poached two wealth management teams for its Dallas and Houston offices, bringing an additional $6.1 billion in client assets to the firm.
Broker who advised Gorman jumps to UBS
Morgan Stanley co-president James Gorman has lost one of the firm's top brokers to a rival wirehouse — the very broker who has been advising the executive on his own portfolio.
Short of funds, UBS freezes real estate fund
UBS AG announced today it has frozen one of its real estate funds until the end of next year, due to an inability to keep up with redemption requests from wealth management clients.
