Wednesday, 17 December 2014
Last updated 12 hours ago
Oct 6 2011 | 10:31am ET
A top UBS prime brokerage executive has found himself with a lot more on his plate in the wake of the US$2.3 billion trading scandal at the Swiss bank.
With one of the equities division's chief operating officers having resigned and the other suspended, Don Francese has been named interim CEO of the division, investment-banking chief Carsten Kengeter told employees in an internal memo. Francese is currently COO of the bank's prime services division.
The resignation of Niraj Gudka, one of the co-COOs, as well as the co-heads of the whole equities division, François Gouws and Yassine Bouhara, follows last month's revelation that a rogue trader lost US$2.3 billion in authorized trades. UBS CEO Oswald Grüber also resigned in the wake of the scandal, and seven people have been suspended pending an investigation.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.