Swiss banking group UBS has announced it is to cut 3, 500 jobs globally as part of its cost savings programme.
In a sign of the runaway jitters that are pounding bank stocks, Credit Suisse Group and UBS AG denied they borrowed the funds, saying their liquidity remains strong.
Last year, Citadel, Merrill Lynch, UBS, Credit Suisse Group, Citigroup and Morgan Stanley collectively bought up more than 80% of the Philadelphia Stock Exchange and are plowing resources into its electronic trading systems with a goal to route more stock order flow through it.
"We would like a standard to be chosen quickly, " says UBS' Ursula Mills, the group's cochairman.
The sponsorship has been a question mark since Art Basel acquired Art HK because of UBS's sponsorship of the group's other events.
Trevisani has traditional large-cap holdings like British insurer Lloyds TSB Group and Swiss bank UBS. Yet she also looks for smaller, undervalued companies with growth or the potential for it--something the buyout titans are beginning to do, too.
Now 37, Oliver drops in on his half-brother a few times a year while scouring the globe for mega finance deals on which he can give advice as joint global head of UBS Investment Bank's Financial Institutions Group.
And, according to fraud charges filed Thursday by the Massachusetts securities regulator, the managing director of the UBS (nyse: UBS - news - people ) group responsible for auction rate securities in the U.S. began liquidating his own holdings just as that sales effort got off the ground.
Seven financial titans, including UBS Warburg, Lehman Brothers and Merrill Lynch, formed a group in August to speed up the process of hammering out standards.
Last year, Citadel, Merrill Lynch (nyse: MER - news - people ), UBS (nyse: UBS - news - people ), Credit Suisse Group (nyse: CSR - news - people ), Citigroup (nyse: C - news - people ) and Morgan Stanley (nyse: MS - news - people ) collectively bought up more than 80% of the Philadelphia Stock Exchange and are plowing resources into its electronic trading systems with a goal to route more stock order flow through it.
Evercore Group, Goldman Sachs, RBC Capital Markets, and UBS Securities are acting as co-managers for the offering.
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UBS, its big Swiss bank rival, which has no insurance group attached, files under both American and international standards and has recently enjoyed a much more stable share price (see chart).
"The group made significant progress under Mr Ermotti's leadership, " UBS told its shareholders in the report.
Now 37, Oliver drops in on his half-brother a few times a year while scouring the globe for mega finance deals on which he can give advice as joint global head of UBS (nyse: UBS - news - people ) Investment Bank's Financial Institutions Group.
Previously, UBS had a larger "art advisory" team, but the bank shut the group down in 2009.
European banks including UBS AG, Barclays Plc, HSBC Holdings Plc, Royal Bank of Scotland Group Plc and Credit Suisse Group AG have announced more than 70, 000 job cuts since midyear, compared with 42, 000 by U.S. peers, according to data compiled by Bloomberg.
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Trevisani has traditional large-cap holdings like British insurer Lloyds TSB Group (nyse: LYG - news - people ) and Swiss bank UBS (nyse: UBS - news - people ).
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