Tag Archives: UBS

Another Swiss banker arrested in the USA

Welcome to this Zurich-New York flight: do you want to put your handcuffs now and save some time at the immigration desks?

Welcome to this Zurich-New York flight: do you want to put your handcuffs now and save some time at the immigration desks?

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Banking secrecy is dead

Sergio Ermotti, UBS’ CEO, together with Eveline Widmer Schlumpf, current Swiss President and former CEO, Marcel Ospel.

Sergio Ermotti, CEO of UBS, posing as the Mr Clean of the Swiss finance, tried to justify in a recent interview (http://www.tdg.ch/economie/Le-secret-bancaire-comme-il-y-a-dix-ans-c-est-fini/story/13260998), the lay-offs by UBS, which would in fact be due to the Savings Tax Directive, but forgetting about the “contribution” of UBS since 2007, previously managed by Marcel Ospel. Mrs Eveline Widmer Schlumpf, current President of Switzerland, applauses in an earlier interview of today, these layoffs as well as the fact that the Swiss finance is progressively shrinking  (http://www.tdg.ch/economie/eveline-widmerschlumpf-salue-suppressions-postes/story/24421271).

 

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UBS cuts 10000 jobs in its Investment Banking division

Sergio Ermotti explains the circumstances of the decision of UBS to get rid of an important part of its investment banking business

Another cartoon on the last lay off plan of UBS here: https://lecartoonist.wordpress.com/2012/10/16/ubs-to-fire-10000-it-employees/

W57ZNYTRT643

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UBS to fire 10000 IT employees

UBS will lay off 10000 IT employees

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