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Report: UBS to be asked for U.S. client names
A subpoena would demand the names of American clients who may have used the firm’s services to avoid paying taxes.
Ex-UBS banker indicted in tax scam
A former banker at UBS has been charged with helping clients avoid paying taxes by opening secret bank accounts.
UBS employee detained in tax probe
UBS AG revealed today that the Department of Justice is investigating whether it assisted clients in evading taxes.
Ailing UBS sells assets to BlackRock
UBS will sell BlackRock a portfolio of subprime mortgages valued at just over $20 billion.
Citi and UBS wealth units tough it out
Wealth management executives at Citigroup and UBS, two of the financial institutions hardest hit by the subprime loan crisis, are working overtime on damage control to protect their lucrative franchises.
Report: UBS to cut 8,000 employees
The bank said layoffs will likely be announced when it presents its first-quarter financial results on May 6.
Auction rate securities class actions are filed
A spate of class actions involving auction rate securities may be behind an expected rise in securities class actions this year.
Deutsche, UBS feel subprime pain
Deutsche Bank's first-quarter earnings estimates were lowered by analysts and UBS is planning to slash payrolls by up to 10%.
Ex-UBS president calls for split-up
In response to an expected $19 million in write-downs, a former executive has called for the company to be divided.
Lehman, UBS issue billions in stock
Lehman Brothers has priced a $4 billion offering of four million shares of convertible preferred stock.
Record losses predicted for Merrill, UBS
The first-quarter hits will be due to write-downs on the value of debt securities, said Oppenheimer analyst Meredith Whitney.
UBS chairman takes 90% pay cut
Marcel Ospel took a 90% cut in pay in 2007 after the bank recorded $18 billion in write-downs.
New exchanges to the rescue?
Companies holding auction-rate securities have a new escape option: an emerging secondary market for trading the now-illiquid instruments.
UBS mulls huge job cuts
UBS AG is considering slashing as many as 8,000 jobs to save costs, and will not rule out a possible split of its wealth management and investment banking business, according to Swiss newspaper SonntagsZeitung.
Recent push by Finra is the right move
The recent push by the Financial Industry Regulatory Authority Inc. to return money to harmed mutual fund investors was part of what should be a never-ending effort by the financial services industry to find ways to maintain consumer faith in the marketplace.
UBS stocks sink after analyst report
"Further write-downs appear likely and could be large," Daniel Davies of Credit Suisse wrote in a research note.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health care issues in retirement, but at least one firm, UBS Financial Services Inc., is avoiding the topic because of liability concerns.
Several wirehouses press advisers to talk health care with clients
Several wirehouse firms have begun pushing their financial advisers to talk to clients in more depth about health…
UBS shareholders OK $12 billion infusion
Chief executive Marcel Ospel urged the move amid calls for him to step down in the wake of $19 billion in write-downs.
UBS to crunch chairman Ospel’s term
UBS AG will cut back board members’ office terms to one year from three after the Zurich-based bank reported record losses.
