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; katy.burne@dowjones.com

Stock News for Ubs (UBS)
DateTimeHeadline
07/24/201410:59:15UBS AG 2Q 2014 -- Forecast
07/22/201408:35:10Hungary Cuts Key Rate Deeper Than Expected
07/18/201418:44:35Rise in Fee-Based Business Helps Boost Broker Productivity
07/09/201416:17:52Wells Fargo Recruits Brokers From Rival UBS --Street Moves
07/02/201416:33:48Wells Fargo Hires Houston-Area Broker Team from UBS --Street...
06/30/201418:07:21New Zealand Debt Management Office Launches April 15, 2027 Nominal...
06/27/201418:45:13Banca Monte dei Paschi di Siena Raises Nearly 5 Billion Euros
06/26/201416:48:38EUROPE MARKETS: Europe Stocks Run Lower After Fed Rate Comment
06/26/201416:46:02EUROPE MARKETS: Europe Stocks Sway After Fed Rate Comment
06/25/201403:59:58Two UBS Asia Executives Depart
06/23/201421:08:50New Zealand Debt Management Office Appoints Lead Managers for...
06/20/201401:30:21TPG, Carlyle Gauge Interest in Possible Healthscope IPO
06/19/201403:09:46Swiss Banks Urged by SNB to Boost Capital
06/16/201423:01:27More Expatriate Americans Break Up With Uncle Sam to Escape Tax...
06/12/201416:16:18UBS Hires Ex-BofA Executive Marcus -NYT
06/06/201417:52:33U.S. Stocks Rise as Jobs Data Show Moderate Growth Path
06/06/201413:20:52Monte dei Paschi Warns It Could Need to Find Capital
06/03/201405:24:05Tianhe Chemicals, Hanhua Financial's IPO Hopes
06/02/201411:49:32UBS Taps Mark Haefele as CIO of Wealth, Private Bank Operations
05/29/201412:28:18Gold Slides as Geopolitical Worries Diminish

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

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad