UBS senior bankers are heading to Pebble Beach for a golf tournament with clients as a division of the firm draws criticism after a $2.3 billion trading loss, according to a person familiar with the event.
Employees from UBS’s Americas investment-banking division will spend part of the week golfing at the California resort with the company’s top clients, said the person, who spoke on condition of anonymity because the event is private. The bank, Switzerland’s largest, has been hosting the event for 10 years, the person said.
UBS, led by Chief Executive Officer Oswald Gruebel, 67, said last week that it suffered the loss from unauthorized trading in London and may be unprofitable in the third quarter...
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Read about how the band played on at http://www.bloomberg.com/news/2011-09-21/ubs-bankers-said-to-golf-in-pebble-beach-after-trading-loss.html
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