Wednesday May 27, 2020

Rogue trader costs mount-Bloomberg

(from Bloomberg News)

19th September, 2011
Kweku Adoboli

(from Bloomberg News)

UBS, Switzerland's biggest bank, said the loss from unauthorised trading at its investment bank amounted to $2.3 billion, more than initially reported, and the firm would set up a committee to investigate.

The loss, estimated on Sept. 15 at $2 billion, came from trading in Standard & Poor's 500, DAX and EuroStoxx index futures over the past three months, the Zurich-based bank said in an e-mailed statement.

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