State to the rescue
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UBS has written down more than $50bn on toxic assets and still acknowledges the need to rebuild its investment banking business despite group earnings approaching pre-crisis levels for the first time
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Ex-UBS managers to escape sanction
The Swiss bank tries to draw a line under the upheavals it experienced during the credit crisis, acknowledging serious errors but declining again to take legal action against former top managers
Capital plan targets UBS and Credit Suisse
UBS and Credit Suisse will face supplementary national capital standards far in excess of the Basel III rules agreed by international regulators last month
How Swiss finish was factored in
Proposals to clip the wings of too-big-to-fail banks elicit cries of anguish from UBS and Credit Suisse, but the pair were neither surprised nor unprepared for requirements that far exceed Basel III
UBS shake-up signals move into growth mode
Alex Wilmot-Sitwell, one of the Swiss bank’s London-based investment banking chiefs, will become co-chairman and co-chief executive of its Asia-Pacific business in the latest sign that it is moving out of recovery
UBS lowers forecasts on ‘wrong shape’ Barclays
The FTSE 100 touched its best level since April, but failed to hold the 5,600 point mark and ended the week barely changed
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Comment and Analysis
A Swiss survivor
Finance: The strategies that helped UBS recover after it came close to collapse during the credit crisis offer lessons for other banks but are yet to be tested in the long term
UBS
The priority is to restore profitability and with it, client confidence. That should stem the exodus from the wealth and asset management units
UBS
By pre-announcing more than SFr2.5bn of first-quarter profit before tax, and reduced outflows from wealth and asset management, Grübel hopes to pacify shareholders
UBS
Outflows from the group’s wealth management and Swiss banking operations nearly doubled to SFr33bn compared with the previous quarter
UBS loses ability to convince as credibility is hit
Marcel Ospel’s name has turned to mud in the 18 months since the UBS chairman stepped down but the bank has lost credibility in doggedly defending him
Grübel still has difficult work to do at UBS
Oswald Grübel, new chief executive, turns his attention to the difficult task of rebuilding the bank’s ailing investment and private banking arms
UBS / US tax authorities
The IRS claims it will receive an ‘unprecedented amount of information’ from the Swiss bank
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