Wednesday May 27, 2020

Rogue trader costs mount-Bloomberg

(from Bloomberg News)

19th September, 2011
2
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.

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The best writing and and the biggest stories of 2019 from the Business Post

Richie Oakley | 4 months ago

Denis O’Brien is back in court, residents continue to fight the Council on halting site and a row surfaces in government over rent control proposals

Leanna Byrne | 4 years ago