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Lunchtime Links: First photo of the man the FT says was behind the UBS trade; the bank that's making 30% of its EMEA equities staff redundant

The Financial Times claims to have a name for the man who was apparently arrested at 2.30am in London last night for purportedly causing havoc at UBS: allegedly it's Kweku Adoboli, a former Nottingham University student working in Delta One trading in London. According to The FSA he's been at UBS since 2006. There is a photo of someone called Kweku Adoboli on this Facebook page, which remains public - for the moment (this has now been pulled but here's a link to the very same photo which subsequently appeared on the BBC website and which we're posting below).

KA

Separately, it has emerged that MF Global is taking an axe to its EMEA equities business and eliminating no fewer than 30% of its people in equities trading and research. More separately still, Bloomberg is reporting that SocGen will make 600-800 people redundant in its corporate and investment bank but that no fewer than 300 of them will go in Paris.

Oswald: "We want to reassure you that we, together with the rest of the management, are working closely with the Investment Bank's management and risk and controlling to get to the bottom of the matter as quickly as possible." (Alphaville)

Goldman Sachs keeps moving people into its asset management division. (BusinessWeek)

UBS keeps making people redundant in India. (Economic Times)

Bill Winters says the government should remove the banking levy before it implements ring-fencing. (Financial Times)

Only the very committed/partially delusional want to do an MBA in this market. (Wall Street Journal)

Anshu Jain becomes very visibly annoyed when his German skills are questioned. (Spiegel)

Chinese graduates can't get jobs either. (Reuters)

People who get up early are more likely to be successful, happy and thin. (Telegraph)

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AUTHORSarah Butcher Global Editor
  • PC
    PC Watchman
    16 September 2011

    How and why did this guy get promoted so fast ??

  • gr
    growler
    16 September 2011

    Had UBS already made it's risk people redundant?

  • sw
    sws
    16 September 2011

    I can just see the meeting with top line managment and HR-

    "forget the diversity programs to get people from 'other' backgrounds. "

  • K
    K
    16 September 2011

    I HAVE BEEN FRAMED! THIS IS AN OUTRAGE! $1 million to anyone who can break me out of custody.

    Regards,

    K

    (p.s. they are still allowing me to trade derivatives that have a delta of 1 with respect to the underlying.)

  • ja
    jane
    15 September 2011

    great effort

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The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.