Give UBS credit for bravely launching a major ad campaign when antipathy toward big banks is as strong as ever. The ads pose deeply personal questions in a bid to put UBS in the middle of an individual’s most critical dialogue. But will people let UBS inside?
Martin Wheatley of the UK’s Financial Services Authority on Friday announced plans to overhaul Libor, which has been at the center of a rate-fixing scandal involving Barclays and other major banks. Wheatley called for significant changes in the way Libor is set, and encouraged reform of other commonly used benchmarks with similar weaknesses – something […]
One of the serious misjudgments by Barclays CEO Bob Diamond in the Libor scandal was his belief that regulators’ praise for the bank’s cooperation during the investigation would shield it from criticism. It did not. Diamond should have learned from Ken Lewis that you can’t count on regulators’ goodwill to protect you when things get […]
On Monday, Barclays CEO Bob Diamond sent a letter to employees that he hoped would draw a line under the widening scandal over the bank’s manipulation of a key lending rate. But rather than relieve the pressure, the letter only increased it, and by Tuesday Diamond had resigned. His letter offers several lessons for scandal-scarred […]