UBS chief goes

Oswald-GrubelOswald Grübel, the group chief executive officer of UBS, has stepped down. Swiss banking giant UBS says Grübel takes responsibility for the unauthorised speculative trading incident, which led to a $2.3 billion (€1.7 billion) loss. A trader in the London-based global synthetic equity business allegedly took speculative trading positions in various S&P 500, DAX, and EuroStoxx index futures over the last couple of months. Markets, however, moved in a different direction and the positions caused losses. Since the Swiss bank announced the loss earlier this month, UK authorities have charged trader Kweku Adoboli with fraud by abuse of position. The investigation continues. Meanwhile, Sergio Ermotti takes over as group chief executive officer an interim basis. ©2011 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.