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UBS AG : the cost of failing to manage operational risk / Chijioke Oji & Viola Makin.

By: Contributor(s): Material type: TextSeries: Publisher: [London] : SAGE, 2016Description: 1 online resource : illustrations (black and white, and colour)Content type:
  • text
  • still image
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781473964198 (ebook) :
Subject(s): DDC classification:
  • 332.15 23
Online resources: On 15 September 2011, news of United Bank of Switzerland's (UBS) operational failures in its investment banking division hit the market. Kweku Adoboli, a trader who worked at UBS's central London branch, had beaten the control system and carried out a number of unauthorised trades. The trades cost UBS 2.3 billion U.S. dollars in losses - the biggest trading-related loss in the history of banking in Britain, with the impact felt across banks in Europe. Engulfed by calls for closer scrutiny of its entire operational system and trading culture, senior management at UBS fought hard to restore confidence in the bank.
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Originally Published in: Oji, C., & Makin, V. (2013). UBS AG: The Cost of Failing to Manage Operational Risk. WBS-2013-3. Johannesburg: The Case Centre, Wits Business School.

On 15 September 2011, news of United Bank of Switzerland's (UBS) operational failures in its investment banking division hit the market. Kweku Adoboli, a trader who worked at UBS's central London branch, had beaten the control system and carried out a number of unauthorised trades. The trades cost UBS 2.3 billion U.S. dollars in losses - the biggest trading-related loss in the history of banking in Britain, with the impact felt across banks in Europe. Engulfed by calls for closer scrutiny of its entire operational system and trading culture, senior management at UBS fought hard to restore confidence in the bank.

Description based on online resource; title from home page (viewed on April 28, 2016).

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