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investment banking

September 19, 2011

Following last week’s arrest of rogue trader Kweku Adoboli, Swiss bank UBS has probably had as much fun in investment banking as its wealthy clients can stand.

Following last week’s arrest of rogue trader Kweku Adoboli, Swiss bank UBS has probably had as much fun in investment banking as its wealthy clients can stand.

Adoboli was accused of fraud after incurring a potential $2.3 billion loss for the bank. A UBS spokesman won’t say how it happened, but the problem appears to relate to unhedged dealing losses, disguised by fake trades.

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