Feb 26 2009
SWITZERLAND: UBS Names Grübel as New CEO
UBS AG, the Swiss bank battered by massive write-downs and its role in a U.S. tax-evasion scheme, announced the surprise departure of chief executive Marcel Rohner. Mr. Rohner’s sudden departure comes after UBS agreed earlier this month to a $780 million settlement with the U.S. Justice Department of a criminal inquiry into the bank’s role [...]
Feb 21 2009
UBS AG Helps Fill Lawmakers’ Coffers
Swiss bank UBS AG agreed today to pay $780 million to settle claims by the U.S. Department of Treasury that it helped American customers evade paying taxes by hiding their Swiss bank accounts from U.S. tax authorities. But that’s not the only help that UBS has provided Americans. In the 2008 election cycle, the foreign [...]