UBS

The Legend of Bond Trader & Pop Artist Eddie Rincon

Displayed below are three pictures of the same velvet painting entitled Ride The Storm. The first photo of the painting was taken on August 11, 2007 when massive market storms took root. The second photo was taken August 3, 2008. The third photo was taken last weekend: April 17, 2010. The obvious physical change in

Move Toward Better Credit Default Swap Regulation Continues

Latest news from Bloomberg on bringing more transparency to the credit default swaps market: Wall Street banks including JPMorgan Chase & Co., Goldman Sachs Group Inc. and UBS AG will for the first time offer hedge-fund customers protection by backing credit-default swap trades with clearinghouses by Dec. 15. The dealers also committed to report all

Morgan Stanley Execs To Forgo Bonuses

With the credit crisis almost extincting the investment banking industry, Morgan Stanley who only managed to save themselves by converting to a commercial bank, is but 1 firm with execs forgoing 2008 bonuses: Morgan Stanley unveiled plans to revise compensation practices and said Chief Executive Officer John Mack and Co-Presidents Walid Chammah and James Gorman

No Bonuses For 3 Years At UBS

Swiss weekly Sonntag reports that UBS will freeze bonus payments for three years and allow shareholders to approve manager pay packages. An official announcement from UBS on the terms of their revised compensation structure is expected Monday, with a full briefing for shareholders to follow on November 27. Since summer 2007 when they shut down

Swiss Government To Save UBS, Will Get 9% Non-Voting Stake

UBS and its predecessor organizations have a long and global reputation for safeguarding the assets of the world’s wealthy people and entities. Now that the bank is buckling under the weight of its $48 billion in write downs so far this year, the Swiss government clearly recognizes how importance of keeping UBS alive and will

UBS Shuns Breakup, But Encourages Independence Among Divisions

UBS was a pioneer in the post-Glass Steagall world, being one of the largest firms to successfully combine banking, investment banking, wealth management and money management operations. This all happened around 2000, one year after the Gramm-Leach-Bliley Act repealed Glass Steagall in 1999. You & Us was the ubiquitous tagline to mark the era. An

Current and Former UBS Global Asset Management Heads Go Head To Head

The troubles at UBS are well documented, but most public discussion has been about the Investment Banking (formerly Warburg) and Wealth Management (formerly Paine Webber) divisions. The Global Asset Management division (formerly Brinson Partners) was mostly under news radar as the business side of the division slowly took over the investment side during the past

Economist: Sorry State of Industry May Save UBS

In its take on UBS and the general malaise of Swiss banking, the Economist this week said that even though predators may be circling to grab opportunities in any breakup, the “generally sorry state of its industry” may be its saving grace as “few would-be buyers have the ready cash for such a large deal.”