BusinessCompany NewsExtra $19bn write-down for UBS

Extra $19bn write-down for UBS

Swiss bank battered by sub-prime aftershock to the tune of $19m forcing chairman Marcel Ospel to hand in his notice

UBS has suffered another write-down of $19bn (£9.6bn), the bank has
disclsoed.

This latest aftershock of the sub-prime upheaval cost chairman Marcel Ospel
his job, as he agreed to step down later this year,
the
FT reported
.

UBS is Europe’s biggest victim of the US mortgage issues after taking an
$18bn hit last year.

Further reading:

UBS
shareholders want audit of controls

Related Articles

BDO replaces Deloitte as Mitie auditor

Audit BDO replaces Deloitte as Mitie auditor

3m Emma Smith, Managing Editor
CVR Global appoints partner in London office

Company News CVR Global appoints partner in London office

7m Alia Shoaib, Reporter
FTSE100 failing to provide adequate ethics information

Company News FTSE100 failing to provide adequate ethics information

7m Alia Shoaib, Reporter
Moore Stephens recruits new private client partner

Accounting Firms Moore Stephens recruits new private client partner

10m Emma Smith, Managing Editor
Magma Group announces merger, partner promotions

Accounting Firms Magma Group announces merger, partner promotions

10m Emma Smith, Managing Editor
BDO on ‘recruitment spree’ with multiple partner appointments

Accounting Firms BDO on ‘recruitment spree’ with multiple partner appointments

10m Emma Smith, Managing Editor
Brand strength leads to fee income growth for RSM

Accounting Firms Brand strength leads to fee income growth for RSM

10m Emma Smith, Managing Editor
Mazars strengthens audit team with partner appointment

Accounting Firms Mazars strengthens audit team with partner appointment

10m Emma Smith, Managing Editor