Forbes: UBS to close art banking department
UBS AG, the Swiss bank hit hard by the financial crisis, said Wednesday it has closed its “art banking” department,…
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NYT: Justice Dept opens UBS criminal probes
The Justice Department has opened about 100 criminal investigations into wealthy American clients of the Swiss bank UBS, a person…
ByDivorce now!
Spear’s, as is our optimistic nature and faith in human ingenuity, has seen the upside to the downturn: now could…
ByArt finally eats itself
An exhibition of blank canvases suggests either a post-modern stroke or a juvenile mentality. I’d plump for the latter. It…
ByWBull: Hohn charity to alter r’ship with hedge fund
London money manager Christopher Hohn’s charitable foundation is changing the way it invests in Hohn’s hedge fund, a sign of…
ByObama, the UK and Kenya
The Anglo-American ’special relationship’, so beloved of politicians, seems to have been undermined recently. The Anglo-American ‘special relationship’, so beloved…
ByProfit and loss? Just profit
Nobody could invent this hedge fund game and expect to be taken seriously – but that is what has happened.…
ByQuant bankers at GS leave after losses
Two Goldman Sachs partners who helped lead the so-called quantitative investment movement on Wall Street have left the firm following…
ByWSJ: UBS hires CS exec to simplify bank
ZURICH — UBS AG said Wednesday it hired a former high-ranking executive from Credit Suisse Group to oversee a simplification…
ByB Post: BDO facilitating redundancy services
BDO Stoy Hayward Investment Management, the wealth management division of BDO, has launched a financial redundancy counselling service for companies…
ByFT: City shuts down as G20 protests begin
The City of London prepared for a day of action by anti-capitalist campaigners on Wednesday in defiant mood but wearing…
ByThe graveside gourmet
William Sitwell considers the morality of ranking funeral food. William Sitwell considers the morality of ranking funeral food. It might…
ByGuardian: Fortis posts £26bn loss for 2008
Fortis, once one of Europe’s top 10 banks, today compounded investors’ worst fears by reporting a -28bn (£26bn) loss for…
ByIn the Mean Time
Another cartoon from the sharpest pen: Newsdesk. ‘You want art news? Shall I put you through to the Crime Desk,…
ByWBrief: Julius Baer gets new CEO
Swiss private bank Julius Baer has appointed Boris Collardi as new chief executive officer, taking over from Johannes de Gier,…
ByLuxist: NY decides not to add luxury jewellery tax
It’s looking like New York will follow fast on the heels of Illinois in deciding not to add a luxury…
ByAsian Banker: Chinese bank shows healthy WM unit
Industrial and Commercial Bank of China Limited has announced its annual results for the financial year 2008. From the Asian…
ByFT: USB shares plunge 11% on speculation
UBS shares fell by almost 11 per cent yesterday as the biggest European casualty of the credit crisis fell victim…
ByA new model for the left
’Give Time time,’ they say in Spanish, for time will heal all wounds and reveal new options if you just…
ByAsia WM sector continues to layoff staff
The shakeout in the once-booming wealth management industry across Asia gathered pace after SG Private Banking, a leading player in…
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