Former UBS trader Adoboli nears deportation as judge denies judicial review October 24, 2018 Hopes that Kweku Adoboli will be spared deportation were fading this evening after the former UBS rogue trader lost a last-ditch legal attempt to stay in the country. The 38-year-old, who was convicted on two counts of fraud in 2012 after his unauthorised trading lost the Swiss banking giant £1.8bn, was denied permission to proceed [...]
UBS warns staff away from China travel after banker is detained October 21, 2018 Swiss wealth manager UBS has asked some of its bankers not to travel to China after an employee was contacted by authorities there, reports said. A small team of private banking advisers were sent a cautionary note, which recommended they reconsider any travel plans in the region while the bank attempted to gather more information [...]
UBS veteran James Palmer appointed EMEA investment bank vice chairman October 17, 2018 UBS veteran James Palmer has been appointed vice chairman of EMEA investment banking and capital markets at Credit Suisse. Palmer will be based in the Swiss banking giant's London office and focus on revenue generation across all product groups, according to an internal memo seen by City A.M. and confirmed by a company spokesperson. Read more: [...]
Canary Wharf’s Citigroup skyscraper goes up for £1.2bn sale October 16, 2018 London's iconic Citigroup tower is being put up for sale for roughly £1.2bn, in a sign that the capital’s buoyant commercial property market shows no sign of slowing down. Sources confirmed to City A.M. tonight that AGC Equity Partners is putting the skyscraper at 25 Canada Square on the market five years after it bought [...]
Supermarket chain announces $300m London float plans in first overseas Belarusian listing October 11, 2018 Grocery chain Eurotorg today announced plans to float on the London Stock Exchange in what would be a first overseas listing for a Belarusian business. Eurotorg is the largest grocery chain in Belarus with a market share of approximately 19 per cent of the food retail market. The float will mark the first overseas listing [...]
London comes top in overseas investment ranking as Asian demand flourishes October 8, 2018 London has kept its crown as the world’s most popular city for global real estate investment, according to a new report that sheds light on the burgeoning overseas demand for commercial property in the capital. Buoyed by an influx of Asian money, London has now held its position as the top city for cross-border investment [...]
Bubble trouble: London among global cities most at risk of housing bubble September 27, 2018 London is among the top cities most at risk of a housing bubble, according to a new report measuring the world's most overpriced property markets. Hong Kong was ranked as the place most susceptible to a swift downturn after years of soaring house prices, while Munich, Toronto and Vancouver were also among the other most [...]
‘Fake news’: Deutsche Bank denies merger with UBS and Commerzbank September 26, 2018 Deutsche Bank has dismissed reports that it is considering a merger with UBS or Commerzbank as “fictions of the press”. Discussions about a tie-up with UBS had taken place in a strategy meeting with the supervisory board earlier in September, Handelsblatt, the German business daily, reported, citing unnamed sources. The sources reported that Deutsche Bank [...]
Banco Santander appoints UBS’ Orcel as new chief executive September 25, 2018 Spain's largest bank today announced UBS' investment banking head Andrea Orcel would takeover as its chief executive from Jose Antonio Alvarez in early 2019. Alvarez will move to become the vice-chairman of Banco Santander, and the executive chairman of its Spanish division. Santander chairman Ana Botin said Orcel had been working with the bank [...]
Four top UBS directors quit July 2, 2008 Swiss banking giant UBS yesterday started the process of rebuilding its reputation and placating shareholders by announcing major board changes. UBS, which has written down more than $37bn during the credit crunch, said four of its senior boards members – Stephan Haeringer, Rolf Meyer, Peter Spuhler and Lawrence Weinbach – would step down on 2 [...]