ADVFN - Advanced Financial Network.
HOME» NYSE » U » UBS Stock Price » UBS Stock News

Ubs Share News

 Ubs Ag (switzerland) Stock Price
UBS Stock Price
 Ubs Ag (switzerland) Stock Chart
UBS Stock Chart
 Ubs Ag (switzerland) Stock News
UBS Stock News
 Ubs Ag (switzerland) Company Information
UBS Company Information
 Ubs Ag (switzerland) Stock Trades
UBS Stock Trades

UBS Hires Ex-Deutsche Bank Credit Derivatives Salesman Rorech

By Katy Burne Of DOW JONES NEWSWIRES NEW YORK -(Dow Jones)- UBS AG (UBS) has hired Jon-Paul Rorech, the bond and credit derivatives salesman who while at Deutsche Bank AG (DB) was the subject of the Securities and Exchange Commission's first case involving credit default swap insider-trading charges. Rorech, who left Deutsche Bank recently to take up the newly created role at UBS, was vindicated in June after a federal judge dismissed the case on the grounds that there was insufficient evidence to support the SEC's allegations. He is set to start in early August as a managing director in hedge fund credit sales, reporting to Joseph Stewart, co-head of credit sales for North America at UBS. Stewart confirmed the hire via a spokesman, but otherwise declined to comment. Attempts to reach Rorech through his former defense attorneys at law firm Goodwin Procter were unsuccessful. An SEC spokesman said the agency would "continue to consider its options" in regard to appealing the judge's decision. A Deutsche Bank spokeswoman declined to comment. Rorech had been accused of passing material information about the nature of a forthcoming $1.6 billion bond offering by Dutch publisher VNU to Renato Negrin, a senior official at hedge fund Millennium Partners LP. Negrin allegedly used that information to make a $1.2 million profit from credit default swaps tied to VNU, now Nielsen Co. Deutsche Bank was advising on the bond sale. The defense insisted that market participants had begun speculating about the structure of the bond offering and that any information learned about changes to the deal was not considered non-public, nor was any inside information passed between the accused officials. In an internal investigation, Deutsche Bank also said it found no evidence of wrongdoing. The SEC said the two relevant conversations between the pair happened on unrecorded cellphone lines. -By Katy Burne, Dow Jones Newswires; 212-416-3084;

Stock News for Ubs (UBS)
01/27/201513:52:13RBC Gains Advisers From UBS -- Street Moves
01/23/201507:50:24UBS' Smiles Tells Asia's Wealthy to Diversify -- Barron's Asia
01/23/201503:39:15UBS: No Major Trading Impact From SNB Move
01/23/201503:22:27UBS Says No Major Trading Impact From SNB Move
01/23/201501:59:15UBS Says No Trading Impact From SNB Move
01/22/201510:20:32U.K. FCA Fines, Bans Two Former Martin Brokers Senior Executives...
01/21/201514:14:49Credit Suisse Outlines Possible Profit Cut Due to Franc Swing...
01/20/201506:08:55European Stocks Buoyed by ECB Hopes -- 2nd Update
01/20/201505:01:23European Stocks Buoyed by ECB Hopes -- Update
01/20/201504:30:04European Stocks Buoyed by ECB Hopes
01/19/201521:38:20Money Managers Led by Fidelity Close to Launch of Dark Pool
01/19/201507:06:09Swiss Franc Remains at Sky-High Levels -- Update
01/19/201505:00:06Swiss Franc Still at Sky-High Levels
01/19/201504:38:48Swiss Franc Remains at Sky-High Levels; Swiss Stocks Regain Some...
01/15/201518:38:35ADR Shares End Mixed; Anheuser-Busch InBev Shares Edge Up
01/15/201517:09:12Swiss Bank Shares Plummet on Central Bank Move--Update
01/15/201515:59:25Raymond James Adds $1.3 Million UBS Adviser -- Street Moves
01/15/201510:05:34Press Release: RAYMOND JAMES RECRUITS $1.3 MILLION ADVISOR FROM...
01/15/201508:20:02Swiss Bank Shares Plummet After SNB Move
01/14/201503:00:28UBS Delists Shares as New-Look Bank Takes Shape

Ubs and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations