UBS

UBS Global Asset Management has appointed Thomas Wels as head of its global real estate business.

UBS could be hit with a record penalty by the Financial Services Authority (FSA) next week following the rogue trade which cost the bank $2.3bn.

Ex-UBS manager Lawrence Kemp has resurfaced at BlackRock's New York office, where he has been appointed as managing director and head of the firm's fundamental large-cap growth team.

Former UBS trader Kweku Adoboli has been sentenced to seven years in prison after being found guilty of fraud following a $2.3bn rogue trade at the Swiss bank.

UBS Global Asset Management has hired BNY Mellon's ex-head of investment solutions Ryan Rajkumar.

UBS US equities manager Lawrence Kemp has left the firm.

London's financial sector will slash 13,000 jobs next year, and bring job levels to a 20-year low in 2014, according to a forecast study.

Mining stocks and oil giant BP provided a lift for London's FTSE 100 today as a huge storm hit the eastern United States, keeping Wall Street closed for a second day.

Banking giant UBS could cut thousands of jobs in London and a total of 10,000 worldwide as part of a plan to split its operations.

UBS Asset Management is to close its US 130/30 Equity fund, as well its Asian Equity fund, due to the uneconomical size of both portfolios.