New UBS boss Ermotti set to cut more jobs November 15, 2011 SERGIO Ermotti is expected to swing the axe at UBS’s investment bank after being named chief executive of the group. Analysts said the appointment of Ermotti, and the decision to replace chairman Kaspar Villiger with former Bundesbank president Axel Weber in May, a year earlier than expected, would reassure investors in the aftermath of the [...]
New UBS boss Ermotti set to cut more jobs November 15, 2011 SERGIO Ermotti is expected to swing the axe at UBS’s investment bank after being named chief executive of the group. Analysts said the appointment of Ermotti, and the decision to replace chairman Kaspar Villiger with former Bundesbank president Axel Weber in May, a year earlier than expected, would reassure investors in the aftermath of the [...]
UBS confirms Ermotti as CEO and Weber as chairman November 15, 2011 UBS has sealed the permanent appointment of Sergio Ermotti (pictured) as chief executive and named former Bundesbank president Axel Weber as its chairman from next May, one year earlier than planned. The appointments fill a leadership vacuum after former CEO Oswald Gruebel quit the Swiss bank in September following a $2BN rogue trading scandal. At [...]
UBS confirms Ermotti as CEO and Weber as chairman November 15, 2011 UBS has sealed the permanent appointment of Sergio Ermotti (pictured) as chief executive and named former Bundesbank president Axel Weber as its chairman from next May, one year earlier than planned. The appointments fill a leadership vacuum after former CEO Oswald Gruebel quit the Swiss bank in September following a $2BN rogue trading scandal. At [...]
Banks lift markets after Italy IMF bailout claims November 28, 2011 Banking shares helped fuel rises on the FTSE 100 in early trading as reports in Italy suggested that the beleaguered country is to receive an aid package from the international Monetary Fund (IMF). The package would help shore up Italy’s finances by up to €600bn (£515.8bn), newspaper La Stampa said. But the IMF distanced itself [...]
Italian banks battered again November 16, 2011 DAYS after Unicredit announced its intention to raise €7.5bn (£6.4bn) from private investors, the rights issue of its rival, Banco Popolare di Milano (BPM) ran into trouble. BPM’s share price fell 13 per cent yesterday, dangerously close to the offer price for the bank’s €800m rights issue that closes tomorrow. The sell-off, which might lead to [...]
Italian banks battered again November 16, 2011 DAYS after Unicredit announced its intention to raise €7.5bn (£6.4bn) from private investors, the rights issue of its rival, Banco Popolare di Milano (BPM) ran into trouble. BPM’s share price fell 13 per cent yesterday, dangerously close to the offer price for the bank’s €800m rights issue that closes tomorrow. The sell-off, which might lead to [...]
Cuts loom as Ermotti set to win UBS post November 13, 2011 UBS is widely expected to name interim head Sergio Ermotti as its permanent chief executive when it updates investors this week. It is also set to present plans to cut the size of its investment bank, where alleged rogue trader Kweku Adoboli worked, in order to focus on less risky wealth and asset management. The [...]
Cuts loom as Ermotti set to win UBS post November 13, 2011 UBS is widely expected to name interim head Sergio Ermotti as its permanent chief executive when it updates investors this week. It is also set to present plans to cut the size of its investment bank, where alleged rogue trader Kweku Adoboli worked, in order to focus on less risky wealth and asset management. The [...]
FTSE falls as Italy’s bond sale reduces investor confidence November 14, 2011 BRITAIN’S top shares fell yesterday as the latest Italian bond auction dented investor confidence in the ability of new governments in Italy and Greece to tackle Europe’s debt crisis. An Italian five-year government bond auction delivered an early market view on former European Commissioner Mario Monti’s leadership after he was installed as Prime Minister of [...]