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The article discusses changes that could be forthcoming at UBS AG in the wake of several adverse developments. The firm's writedowns related to bad credit could reach $43 billion, it has agreed to buy back $19 billion in auction rate securities from investors, and it finds itself involved in a tax-evasion investigation. Chairman Peter Kurer is said to be considering several options.

The article discusses challenges facing UBS AG chairman Peter Kurer. The U.S. government is demanding that UBS release information about US. citizens suspected of tax evasion. Since October, 2007 the firm has recorded $38 billion in writedowns, with potentially more on the way. Shares in UBS hit a ten-year low on July 1, 2008.

The article reports on a January 2008 announcement from the Swiss bank UBS AG. In the announcement the bank indicated that its 2007 losses from involvement with subprime mortgages will be $4 billion more than it had previously thought, and that it would take its third writedown in four months, which would bring the financial total of its writedowns to $18.4 billion for 2007.

The article reports a drop in the net profit of Switzerland's UBS AG in the second quarter of 2011 due to a sharp drop in its fixed-income business, which prompted the company to revise ambitions to rebuild its investment bank into a major international player.

The article examines the decision of Oswald Grübel to forgo bonuses in 2010 with the bank posting a 4.4% decline during the year.

The article discusses the decision by the U.S. Internal Revenue Service to withdraw its civil lawsuit against UBS AG and to widen its investigations into the U.S. clients of other banks, including HSBC Holdings PLC.

The article reports that clients are going back to UBS AG as its restores profitability, posting net new funds of 900 million Swiss francs.

The article reports that UBS AG has decided not to seek legal action against its former executives for the losses it incurred as of October 15, 2010.

The article reports that new international banking rules will lower the exposure of UBS AG in risk-weighted assets.

The article reports on the joint call made by Actares and Deminor for UBS AG to hunt down its former executives for their roles in the writing down of over 50 billion U.S. dollars worth of illiquid securities.

This article focuses on a 2010 parliamentary report in Switzerland which criticized the Swiss government over the issue of a U.S. settlement to disclose account details on wealthy UBS AG clients.

The article reports on the rejection by shareholders of the plan of the bank UBS AG to absolve its 2007 management of potential culpability for losses that resulted from the financial crisis.

The article reports on the announcement made by Swiss bank UBS AG that it gained a pretax profit of about 2.5 billion Swiss francs in the first quarter of 2010 versus the 1.55 billion francs of loss it posted in the same 2009 period and decline in net outflows of funds amid its struggle to win back confidence of wealthy customers and investors following the U.S. crackdown into tax evasion through Swiss bank accounts.

The article reports on an investigation into allegations of tax evasion at the German branch of Swiss bank UBS AG launched by the Federal Financial Supervisory Authority (BaFin).

The article reports on the ruling of a Swiss court which found that the financial-services regulator Finma has abused its power when it forced UBS AG to release client data to the U.S. as part of tax fraud investigation, adding confusion and reigniting debate over bank-secrecy practices after the Swiss government approved the move in February 2009.

The article reports on the lift of a travel ban by UBS for its private bankers after entering an agreement with the U.S. Internal Revenue Service (IRS) to end tax disputes. The ban was imposed in April 2009 after the Swiss financial regulator ordered it to reform its cross-border policies following the U.S. investigations over hidden offshore accounts such as in Switzerland. It prevented its bankers and executives from doing cross-border business and attract rich clients. It will sponsor the Art Basel fair in Miami Beach, Florida to attract clients.

The article focuses on a net loss posted by Swiss bank UBS AG in the third quarter of 2009, which is said to highlight the effects of a scandal involving U.S. clients who had secret accounts with the bank. It notes the failure of its private-banking division to show indications of a turnaround. UBS reported a loss of 564 million francs, compared to 283 million francs in net profit in 2008. Shares of the company stand at 16.35 francs, which represents a 5.8% decline.

The article reports on the decision of UBS AG to hire former Merrill Lynch & Co. executive Robert McCann as the head of its U.S. brokerage unit. McCann, who promised to return the unit to profitability and repair its image, eliminates the use of big signing bonuses to improve the operations of the firm in the nation. McCann considers reversing the damage caused by the financial crisis and tax evasion scandal as one of the challenges that he will face as the unit's head.

The article reports on the intention of SIX Swiss Exchange Ltd. to investigate possible breaches of disclosure rules by UBS AG starting in 2007, when the bank started reporting large write-downs. In addition, the Swiss stock exchange plans to examine the corporate-governance portion of the 2008 annual report of the bank. Also noted is the fact that the probe will have little consequence for UBS as Swiss securities law is based on self-regulation. UBS shareholder Harris Associates has questioned the timing and nature of the investigation.

The article reports on the decision of the Swiss government to sell its investment in UBS AG, earning 1.2 billion Swiss francs or 1.13 billion U.S. dollars from the deal. It cites Switzerland's move to convert a note that gave it a 9.3% UBS stake and sell the 332.2 million shares at 16.50 francs each on August 20, 2009. The government is said to have gained an annualized return of 30% on the 10-month investment. Institutional investors in the U.S., Great Britain, Switzerland and Europe acquired the shares.

The article reports that the Social Democratic Party in Switzerland filed a complaint against former UBS AG chairman Marcel Ospel and Peter Kurer regarding the offshore funds of the bank in the U.S. The lawsuit was made public after the company and the U.S. agreed to a settlement for a tax evasion probe.

The article deals with a meeting held by the Swiss cabinet on the problems of UBS AG with U.S. tax authorities. The meeting will discuss a tax case which involves the U.S. Internal Revenue Service's efforts to obtain the identities of 52,000 accounts to investigate alleged offshore tax evasion by UBS clients. Lawyers involved in the case expect that UBS will agree to turn over up to 10,000 account holders' identities.

This article reports on the losses posted by UBS AG in the second quarter of 2009. The bank's results show the impact of its risk aversion stance to business in the wake of global recession. UBS posted net loss of 1.4 billion Swiss francs or about 1.32 billion U.S. dollars. It explains that the bank's balance sheet declined by 14% during the quarter to 1.6 trillion Swiss francs.

The article reports that UBS AG is foreseeing better signs for its 2009 second-quarter results. With this view, the bank has decided to pursue its efforts to reposition itself around its private-bank and investment-banking arms. Encouraging signs cited by chief executive officer (CEO) Oswald Grübel include lower write-downs on the bank's remaining risk positions.

The article reports on the amount raised by UBS AG through placement of shares with a few investment institutions. The move underlines its struggles to return to profitability. The announcement of a loss for the second quarter emphasized the problems facing chief executive Oswald Grübel, who was appointed after the financial troubles led to injection of capital into the bank. According to analyst David Williams, the Swiss government wants to see higher capital levels so banks can absorb losses.

This article reports on the decline in the net loss posted by UBS AG in the first quarter of 2009 compared to previous quarters. The bank posted a net loss of two billion Swiss francs or $1.78 billion. UBS is one of biggest banks hit by the global financial crisis. The bank's losses stand in contrast to the earnings posed by rivals J.P. Morgan Chase & Co., Credit Suisse Group and Deutsche Bank AG. UBS's outlook for the year remains cautious.

The article reports on the restructuring made by UBS AG chief executive officer (CEO) Oswald Grübel at the investment banking unit of the Swiss bank. Investment banking chief Jerker Johansson was removed and Alex Wilmot-Sitwell and Carsten Kengeter were installed as replacement. The move will consolidate Grübel's grip on the unit which generated more than $50 billion in losses.

The article reports on the decision of UBS AG to sell Banco Pactual back to BTG Investments for $2.5 billion. The move is part of the Swiss bank's aim to increase its capital. It is also in line with UBS' strategy to reduce risk and strengthen its balance sheet. The said strategy is launched by UBS Chief Executive Officer (CEO) Oswald Grübel.

The article reports that UBS AG will eliminate 8,700 jobs and cut operating costs by 15%. Chief executive Oswald Grubel indicated that he expected UBS would incur a loss of $1.76 billion for the first quarter of 2009. The firm's wealth-management operation has lost customers as UBS fights a lawsuit related to tax evasion filed by the U.S. Internal Revenue Service.

The article reports that Swiss bank UBS AG has warned deeper financial loss for 2008 and an extremely cautious profit outlook for 2009. The bank's net loss for 2008 was raised by 1.9 billion Swiss francs to 20.89 billion francs. The additional net loss is from $780 million needed to settle a tax-fraud probe with the U.S. authorities. It also includes an estimated 300 million francs in extra writedown on nearly $40 billion of illiquid assets that will be transferred to a fund managed by the Swiss National Bank.

The article announces that chairman Peter Kurer of UBS AG will be replaced by former Swiss Finance Minister Kaspar Villiger in 2009.

The article reports on the charges facing UBS chairman Peter Kurer and chief executive Marcel Rohner in relation to the alleged illegal efforts to help U.S. dodge taxes. The Swiss bank maintains Kurer and Rohner knew nothing about the allegation. The executives' failure to spot the wrongdoing raises questions over their credibility. The decision of the U.S. to demand data on account holders would affect Switzerland's strict secrecy laws.

The article reports on the staffing cuts announced by Swiss banking company UBS AG at its investment banking operation. The bank posted a loss of 8.1 billion Swiss francs for the fourth quarter of 2008. According to chief executive Marcel Rohner, the unit experienced the worst conditions they can imagine. Meanwhile, he noted that the entire bank had seen an encouraging start to 2009.

The article reports that Swiss bank UBS AG executive directors and managing directors will not receive cash bonuses for 2008 but will instead receive a deferred payment which could be in the form of cash or stock. The deferred payment could however be canceled if UBS does not realize profits in the years of the scheduled payments. While top executives at banks and securities firms agreed to no bonuses in 2008, UBS want the financial plan implemented down the corporate ladder.

The article reports on the sale of UBS AG's 1.3% stake in Bank of China (BOC) for $808 million in January 2009. It is said that the Swiss Bank sold 3.38 billion shares to 15 participants at a 12% discount to the Chinese bank's December 31, 2008 closing price of 2.12 Hong Kong dollar. According to the article, the sale comes after UBS had accepted Swiss government funds, which will include as much as $60 billion in illiquid assets.

The article reports that Swiss bank UBS AG will receive a medium-term loan worth two billion Swiss francs from the covered bond bank Pfandbriefbank under a deal facilitated by the Swiss National Bank in 2008. Pfandbriefbank will sell a privately placed covered bond to three retail banks such as Zürcher Kantonalbank, Postfinance and Raiffeisen. The said loan will be supported by Switzerland's prime mortgages.

The article reports on the support expressed by the shareholders of the Swiss bank UBS AG for its plans to seek government bailout aid. Chairman Peter Kurer stated that former executives would return an additional 22 million Swiss francs in pay to the bank. The government bailout supported by the shareholders includes plans to create mandatory convertible notes valued at six billion francs. The number of lawsuits filed against the bank raised concern among investors.

The article reports that former UBS AG chairman Marcel Ospel will return more than 22 million Swiss francs in pay in response to shareholder criticism over the bank's pay practices. Ospel was ousted after UBS booked major losses on liquid securities. Under his chairmanship, the company carried out an aggressive risk-taking strategy in the U.S. that hit the bank's profitability as the financial crisis hit.

The article reports that the Swiss banking regulator introduced stricter capital requirements for both UBS AG and Credit Suisse Group starting November 2008. Guarantees on client deposits will also be increased to 100,000 Swiss francs from 30,000 francs. Other new measures include more regulatory scrutiny over executive pay. The Swiss government said in a statement that the collapse of a major bank will destabilize liquidity and payments in Switzerland. This development will have a prolonged and grave consequences for the economy.

The article discusses the predicted fourth-quarter net loss of private Swiss bank UBS AG due to the third-quarter net profit it posted for 2008. It notes that the third-quarter developments in UBS, one of the banks worst hit by the credit crunch, affected the perception of its clients on their stability, which observed the bank's write-downs and U.S. tax-evasion investigations of the U.S. government. UBS Chief Financial Officer John Cryan notes that the Swiss government's bailout plan would lead to a charge of four billion francs in the fourth quarter.

The article discusses UBS AG. The bank has absorbed $42 billion in writedowns, and some analysts expect it could take almost $4 billion more. At an October 2, 2008 shareholders meeting, four new directors who support chairman Peter Kurer's strategic plan for the bank are expected to be elected to its board.

The article reports on the increase in profit of Zurich, Switzerland-based bank UBS AG in the third quarter of 2008. The bank declined to comment on the need for additional write-downs. The shares of UBS increased by 8.1% to 21.30 Swiss francs. Based on analyst estimates the bank has reduced its exposure by more than 70%. UBS still faces an investigation into alleged tax evasion conducted by the U.S. Department of Justice and other authorities.

The article reports that senior private banker Martin Liechti of UBS AG in Zurich, Switzerland, who has been testifying as a material witness before a Senate subcommittee for a tax evasion case, has been permitted by the U.S. government to leave the country. The Switzerland-based UBS was found out in July 2008 to have been offering financial services for wealthy Americans by U.S. authorities which allegedly was their method to avoid U.S. taxes.

The article discusses a turn away from the concept of "universal banking" at UBS AG. Contrary to previous efforts at creating synergies between its investment banking and private banking businesses, UBS is insisting on greater independence and performance from the investment banking operations. Chairman Peter Kurer sees the move as making the bank more agile.

The article focuses on the prediction of further write-downs on mortgage securities from Switzerland-based bank UBS AG after its rival Lehman Brothers Holdings Inc. disclosed a decline in profit. It is said that the prediction comes as UBS is completing a 15.97 billion Swiss franc capital-raising by selling shares through rights issue. The shares of USB dropped by 3.2% or 80 Swiss cents to 23.82 francs. UBS is said to be one of the banks seeking funds from investors to increase their capital after mortgage losses.

The article reports on the sale of UBS AG shares at steep discount to the current share price that reflects tough sell because of the company's sub prime exposures. It states that the price of 21 francs per share is 32% lower than the closing price of 30.98 francs on May 22, 2008. The author says that while UBS is guaranteed to receive the fund because four major investment banks are underwriting the issue, the discount is nevertheless embarrassing for UBS as it tries to restore investor trust after making $37 billion mortgage write downs.

The article reports that the Swiss bank UBS AG announced it would lay off some 5500 employees. Over half the layoffs will come from the firm's investment banking operations in London, England and New York City. The layoffs are part of the bank's strategy to wind down its investment banking unit to focus on its private banking operation.

The article reports on the plan of Swiss banking firm UBS to unveil another round of job cuts on May 6, 2008 as part of its restructuring plan. According to analysts, most of the cuts will come from the fixed-income unit in London, England and New York City. It notes that the size of job cuts will demonstrate the performance of the bank under the leadership of its chairman Peter Kurer. Also mentioned is the possibility that UBS will post a net loss of about 12 million Swiss francs for the first quarter of the year.

The article focuses on a broad corporate restructuring demanded by some shareholders of Swiss bank USB AG during its annual general meeting in Basel in 2008. Stockholders who attended the event opposed the election of former UBS general counsel Peter Kurer as chairman of the board. The executive pledged to simplify the structure of the bank and to depend more on its private bank business. The board comprises mostly of non-bankers.