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Axel Weber

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UBS faces calls for break-up at investor meeting

UBS faced a fresh call to separate its investment banking operations and wealth management division at an investor meeting on Thursday, after activist investor Knight Vinke Asset Management demanded a review of the Swiss bank's structure.The surprise intervention by New York-based Knight Vinke comes six months after UBS decided to pull out of the most risky areas of investment banking and just days after first-quarter results beat expectations, giving investors some reassurance that the strategy was working.One top ten shareholder dismissed Knight Vinke's argument that UBS's investment bank was holding back its wealth management arm, which attracted the most customer money in six years in the first quarter of this year."I would not buy the argument that one side is preventing the other side from reaching full potential. For sure, there was a phase where that was the case because of the way the investment bank was run but to me, UBS is learning from past mistakes and is moving forward,"...

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  1. Swiss Back Plan To Curb Excessive Executive Pay, Bonuses

    Swiss voters Sunday overwhelmingly backed a plan giving shareholders sweeping authority over executive pay, the latest in a series of moves aimed at curbing what is ...

  2. G-30 Urges More Long-Term Investment

    Major economies need to take steps to encourage more long-term investment and to ensure the current shake-up of the financial system doesn't limit such funding, acco...

  3. UBS Chairman Weber Suggests Industrywide Libor Settlement -Reuters

    Chairman Axel Weber, whose company settled allegations involving the London interbank offered rate in December, has suggested an industrywide settlement of the globa...

  4. Exclusive: UBS Chairman proposes industry-wide settlement over Libor

    UBS Chairman Axel Weber raised the possibility of an industry-wide settlement for the rest of the banks involved in the Libor rate fixing scandal at a meeting of top...

  5. UBS launches China unit, eyes wealth management business

    UBS AG launched its locally-incorporated unit in China on Wednesday, allowing it to conduct yuan businesses in key areas such as wealth management.Around 40 foreign ...

  6. Analysis: Central bankers rethink their devotion to slaying inflation

    A subtle shift in monetary policymaking is afoot with a new generation of central bankers, striving to secure global economic recovery, prepared to challenge the old...

  7. Timeline: Troubles mount at Swiss bank UBS

    UBS's $1.5 billion fine for rigging global benchmark interest rates is the latest blow for the Swiss bank which has already suffered hefty losses from past mistakes....

  8. Euro zone rescuer Draghi faces daunting 2013

    With two short sentences, the head of the European Central Bank took the heat out of the euro zone crisis this year. In 2013 Mario Draghi has to live up to even bigg...

  9. UBS Chairman Urges Timely Implementation of International Rules

    The chairman of Swiss bank UBS on Monday urged the timely implementation of rules to strengthen the international financial industry and achieve an level playing fie...

  10. UBS faces $1.6 billion fine over Libor rigging: paper

    UBS faces a fine of 1.5 billion Swiss francs ($1.63 billion) to settle interest rate rigging charges, a Swiss newspaper reported on Saturday.Citing unnamed sources, ...

  11. UBS to slash 10,000 jobs in fixed income retreat

    UBS unveiled plans on Tuesday to wind down its fixed income business and fire 10,000 bankers, as it adapts to tougher capital rules that make it more difficult for i...

  12. UBS colleagues influenced my trading, says accused fraudster

    Ex-trader Kweku Adoboli said on Monday that others at UBS , including senior executive Carsten Kengeter, had influenced his trading in the summer of 2011, when he to...

  1. Signs of recovery seen blunting opposition to UBS pay

    Strong first-quarter results are likely to ensure UBS wins shareholder backing for its pay plans at a meeting on Thursday, though a $26 million signing-on award for ...

  2. Julius Baer shareholders reject bank's pay plan

    Julius Baer shareholders voted on Wednesday against the private bank's executive pay plan for 2012, the first time investors have rejected a Swiss firm's compensatio...

  3. UBS's Weber: Market Mood Improvement This Year 'Too Good To Be True'

    The rally in many financial markets across the world this year has gotten way ahead of reality in the underlying economy, UBS AG (UBS) Chairman Axel Weber warned Mon...

  4. UBS chief executive paid $9 million after revamp

    UBS paid CEO Sergio Ermotti almost $9 million and welcomed its new investment bank chief with a $26 million "golden hello" in 2012, the same year the bank announced ...

  5. UBS CEO Paid $9M After Revamp

    UBS paid CEO Sergio Ermotti almost $9 million and welcomed its new investment bank chief with a $26 million "golden hello" in 2012, the same year the bank announced ...

  6. Expectations low for UBS bankers awaiting bonus awards

    Swiss bank UBS AG will tell its employees on Wednesday what bonus, if any, they will be receiving for 2012, a year in which staff endured a radical restructuring and...

  7. Swiss Back Plan To Curb Excessive Executive Pay

    Swiss voters Sunday overwhelmingly backed a plan giving shareholders sweeping authority over executive pay, the latest in a series of moves aimed at curbing what is ...

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