FILE PHOTO: The logo of Swiss bank UBS is seen in Zurich, Switzerland October 25, 2018. REUTERS/Arnd Wiegmann
The overhaul could result in hundreds of job cuts at the investment bank, especially within the higher ranks, FT reported, citing people familiar with the matter.UBS declined comment on the report. Ros Stephenson and Javier Oficialdegui would be named global co-heads of investment banking for an advisory role to overlook bank’s M&A and capital markets activities around the world, FT said.
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Hurricane Dorian could hit the insurance industry with more than $25 billion in losses, UBS saysThe storm could bring as much as $40 billion in damages, analysts wrote. Reinsurers might boost prices if the hurricane wipes out capital reserves. It's a huge loss for insurance industry If by 'losses' they mean reimbursing customers in accordance with the policies that the customers paid the insurance companies for, then isn't that actually fulfillment of a contract and not a 'loss'? is an Act of God covered? ... hmm, thought not,lol
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