Luqman Arnold has called for UBS to be broken up in the wake of its sub-prime
In a six-page letter to UBS vice-chairman Sergio Marchionne, the former
president of the investment bank pushed for a shake-up of corporate governance
and called on the board to flog its asset management arm and separate its
investment bank and private banking units.
Luqman was ousted from UBS in 2001 and led a failed bid for Northern Rock
earlier this year.
UBS is the biggest European casualty of the credit crunch after posting an
additional write-down of $19bn (£9.6bn) this week. The bank has now weathered a
total write-down of $37.1bn to date.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements