UK/SWITZERLAND - Swiss banking giant UBS has raised its estimate of the losses allegedly caused by rogue trader Kweku Adoboli to $2.3bn.
The bank raised its forecast - which was previously $2bn - while revealing more details of the suspected fraud. UBS said the fraud came to light after the bank began making enquiries, and it is ...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date