Sunday, 3 May 2015
Last updated 1 day 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.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…