McCann Is Top UBS Americas Exec
UBS recently made Bob McCann head of UBS’ operations in the Americas and reassigned Philip Lofts to the post of chief risk officer for the Swiss-based firm. Maureen Miskovic, who had been chief risk officer for UBS since early 2010, left the firm.
UBS Pushes Out Risk Chief; McCann to Head Americas Unit
Bob McCann takes over as CEO for the Americas business from Lofts, who re-assumes his role as chief risk officer for the global bank
UBS Sees Leaders Exit, Expects Profit
UBS said in early October that the co-heads of its global-equities unit resigned in response to the unauthorized trading that caused a $2.3 billion loss at the bank in mid-September. A former Bank of America-Merrill Lynch executive is now the sole leader of the unit. These shifts come on the...
UBS to Trim, Not Sell, Investment Bank, Report Says
As further details emerge regarding its recent $2.3 billion trading loss, UBS interim CEO Sergio Ermotti has decided against spinning off or selling the investment bank and, instead, plans to reduce its size, especially in its fixed-income work.
Co-Heads of UBS Equities Unit Resign; Former Merrill Exec Takes Over
The arrest of UBS trader Kweku Adoboli last month has led to the resignations of Francois Gouws and Yassine Bouhara; Mike Stewart assumes leadership role for UBS equities.
UBS Expects Modest Profit for Q3, New Client Inflows
UBS said Tuesday that, despite a loss of $2.3 billion related to unauthorized trading and $433 million restructuring charge tied to cost cutting, it should report a modest net profit for the third quarter of 2011.
UBS Profit Jumps, as U.S. Unit Had Fewer Advisors but Improved Inflows
The number of UBS advisors in the United States and Canada stands at 6,760 - a 2% decline from the first quarter and a 15% decline from last year.
Robert McCann Goes to UBS as Merrill Lynch Re-Launches Brand
After several months of speculation and a legal dispute with his former employer, Bank of America-Merrill Lynch, Robert J. McCann is now CEO of...