UBS Group : Legal disputes once again cloud fundamentals
>Cost of legal disputes at the high end of forecasts - Recent announcements correspond to unfavourable assumptions:France / tax evasion: the maximum risk stands at CHF 6.0bn, i.e. CHF 4.2bn (€ 3.7bn) for the potential fine and CHF 1.8bn (€ 1.6bn) in damages demanded by the French tax authorities. Moreover, in Belgium UBS is involved in a similar dispute although with no quantified demand from the authorities at this stage.US / RMBS: an agreement with the Dep...UBS Group is a holding company. Through its subsidiary, UBS, Co. provides financial services including advisory services, underwriting, financing, market making, asset management and brokerage and retail banking. Co.'s operations are organized along five segments: Wealth Management (financial services to high net worth and ultra high net worth individuals as well as private and corporate clients); Wealth Management Americas (advice-based solutions for ultra high net worth, high net worth and core affluent individuals and families); Personal & Corporate Banking (provides financial products and services to private, corporate and institutional clients); Asset Management and Investment Bank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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