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Old 07.10.2008, 07:32
Nev
 
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Re: How Safe is UBS

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Then of Friday, UBS laid off another 2,000 employees. I really don't know what to believe.

We are in the middle of selling our business in the US - good timing, I know! CHF is going up while the dollar is falling, it feels like the whole world is conspiring against us.
Bit of a stretch to claim their troubles are behind them but the 2000 lay offs were in the investment bank as part of UBS's efforts to refocus away from risky trading businesses and prioritise it's more stable customer areas like banking and wealth management .

Re the dollar/swissie, the trend's your friend surely:
http://finance.yahoo.com/currency/co...CHF&amt=1&t=3m

What's more interesting is that UBS's bankers are meeting clients with lawyers in tow! Were they taking notes?
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