Русская версияSwitzerland's largest bank, UBS, has unveiled a dramatic
restructuring plan after reporting a record second quarter loss of
221 million euros on Tuesday.
The bank was also forced to write-off
another 3.5 billion euros in losses due to the world-wide sub-prime
lending crisis. In response, UBS has announced plans to break up
its business divisions into three autonomous units in order to make
the Swiss trademark bank "more effective and agile in managing
trends in the financial industry."
(Deutsche Welle)
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