UBS investment banking president Andrea Orcel will no longer take on the role of CEO at Santander due to compensation concerns.
Morgan Stanley, Virtu Financial, Citadel Securities, UBS and Fidelity Investments are among the firms looking to establish a low-cost, transparent equities exchange.
UBS will act as intermediary for smaller firms with limited bilateral credit and relationships on Cboe FX.
James Rubinstein has been appointed head of electronic equities for the Americas region at Deutsche Bank in New York.
Andrea Orcel will join Santander as CEO in early 2019, as UBS names Piero Novelli and Robert Karofsky co-presidents of the investment bank.
Bans will be implemented over a six month period, effective from 13 April, but capped instruments remain available for trading under LIS waiver.
Hong Kong financial watchdog fines UBS after it failed to produce transaction and client consent records.
Melvyn Merran has been appointed head of credit trading for ETFs as Citi continues its drive into the ETF space.
Swiss investment bank’s annual report outlines potential revenue impacts of MiFID II unbundling and changes to OTC derivatives trading.