UBS

Switzerland's biggest bank UBS and Deutsche Bank, Germany's largest lender, have both posted sharp falls in profits for Q2 as fees and commissions dwindled in the face of the eurozone crisis.

Leading fund managers including Richard Buxton at Schroders have been increasing their exposure to major UK banks following the LIBOR scandal which has rocked the sector.

UBS has closed its underperforming Absolute Return Bond offering after assets dwindled to £15m.

RBS and Lloyds, the two UK tax-payer backed banks, are among a dozen financial groups being investigated for manipulating the LIBOR rate, which resulted in a record £290m regulator fine for Barclays, it was revealed yesterday.

Projit Chatterjee, manager of the UBS Emerging Markets Equity Income fund, talks to Joanna Faith about how he has positioned his portfolio since launch last year and his outlook for key emerging market regions.

Swiss central bank chairman Philipp Hildebrand, who quit over a currency trading scandal, is to join BlackRock as vice chairman in October.

Philip Pearson and Anthony Burton are co-managers of the GLG Technology Equity fund, one of the most successful technology funds of the past three years.

The Upper Tribunal has upheld the Financial Services Authority's (FSA's) decision to ban and fine two former UBS advisers £1.3m in relation to an unauthorised trading scheme.

Schroders has expanded its fixed income team, hiring UBS Asset Management's head of UK fixed income Alix Stewart and Konstantin Leidman as the group looks to build its capabilities in the space.

As J.P.Morgan shares plunge following one of its largest ever trading losses, we list ten of the greatest losses ever suffered in the financial sector.