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The 2011 UBS rogue trader scandal caused a loss of over US$2 billion at Swiss bank UBS, as a result of unauthorized trading performed by Kweku Adoboli, a director of the bank's Global Synthetic Equities Trading team in London in early September 2011.
2011 UBS rogue trader scandal Kweku Adoboli (born 21 May 1980) is a Ghanaian investment manager and former stock trader . He was convicted of illegally trading away US$2 billion (£1.3 billion GBP ) as a trader for Swiss investment bank UBS .
Swiss bank UBS (NYS: UBS) announced today, 14 months after the original incident became public, that a trader responsible for more than $2 billion in losses has been convicted on two counts of ...
One famous rogue trader is Nick Leeson, whose losses on unauthorized investments in index futures contracts were sufficient to bankrupt his employer Barings Bank in 1995. . Through a combination of poor judgment on his part, increasingly large initial profits, lack of oversight by management, a naïve regulatory environment, and an unforeseen outside event, the Kobe earthquake, Leeson incurred ...
This article has been adapted from our sister site across the pond, Fool U.K . With French banks taking a beating on fears of their exposure to eurozone debt, and the European Central Bank ...
UBS's (NYS: UBS) rogue trader is getting all the attention, but other developments at the European banking giant could be much more significant for its industry. Following on the heels of rival ...
Oswald Jürgen Grübel (born November 23, 1943) is a German banker who was the group chief executive officer of Swiss bank UBS AG from 26 February 2009 until his sudden resignation on the 24 September 2011 in the wake of the 2011 UBS rogue trader scandal. [2] Previously, he has been head of Credit Suisse between 2003 and 2007. [3]
History is full of bad trades, from the UBS (NYS: UBS) rogue trader that lost $2.3 billion to Long-Term Capital Management's failed arbitrage plays. While Netflix's (NAS: NFLX) badly timed ...