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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  UBS Group    UBSG   CH0244767585

UBS GROUP

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UBS : Ex-UBS compliance officer convicted in London insider dealing case

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06/25/2019 | 01:18pm EDT
FILE PHOTO: A man walks past a UBS logo projected on a screen in Singapore

LONDON (Reuters) - A former UBS compliance officer and her day-trader friend were found guilty of insider dealing by a London jury on Tuesday, marking a success for Britain's Financial Conduct Authority (FCA) after a two-month trial.

The jury at Southwark Crown Court convicted Fabiana Abdel-Malek, 36, and 40-year-old Walid Anis Choucair of three counts of insider dealing between June 2013 and June 2014.

The jury has yet to reach a verdict on two further counts against both defendants and was asked by the judge to continue its deliberations on Wednesday. Insider dealing carries a maximum seven-year jail sentence in Britain.

Prosecutors alleged Abdel-Malek accessed confidential information on five takeovers that UBS was working on and would pass them to Choucair, who would trade on the information and netted around 1.4 million pounds, the jury heard.

The convictions come as the FCA, under its Chief Executive Andrew Bailey, faces an independent review into its handling of the suspension of fund manager Neil Woodford's flagship fund and the collapse of investment firm London Capital & Finance.

Bailey, who is viewed as a leading candidate to replace Mark Carney as Bank of England governor next year, faced a grilling by lawmakers about the watchdog's role on Tuesday.

(Reporting by Kirstin Ridley; editing by Carolyn Cohn and Alexander Smith)

By Kirstin Ridley

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Financials (CHF)
Sales 2019 29 236 M
EBIT 2019 5 925 M
Net income 2019 4 310 M
Debt 2019 21 752 M
Yield 2019 6,24%
P/E ratio 2019 10,7x
P/E ratio 2020 9,16x
EV / Sales2019 2,25x
EV / Sales2020 2,19x
Capitalization 43 907 M
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 15,16  CHF
Last Close Price 11,83  CHF
Spread / Highest target 61,5%
Spread / Average Target 28,2%
Spread / Lowest Target -13,8%
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Managers
NameTitle
Sergio P. Ermotti Group Chief Executive Officer
Axel A. Weber Chairman
Sabine Keller-Busse Group Chief Operating Officer
Kirt Gardner Group Chief Financial Officer
Michel Demaré Independent Vice Chairman
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