UK Court Approves C Suisse's Trader's Extradiction, UBS in Key Hire

Credit Suisse Canary Wharf

A British court on Monday approved the extradition of a former Credit Suisse trader to the United States, where he is wanted over a $540m fraud dating back to the subprime mortgage crisis.

Reuters reports that the case of Kareem Serageldin will now be sent to Home Secretary Theresa May, the interior minister, who under British law has the final say over extraditions to the United States. She is expected to give the green light for the transfer to take place.

In the meantime, the news agency also reports that UBS has said Piero Novelli had rejoined the Swiss bank as chairman of global mergers and acquisitions, according to a memo to staff on Monday.

Novelli left Japanese bank Nomura (9716.T) last year, where he was global co-head of M&A, after joining it from UBS in January 2011.

UK court approves ex-Credit Suisse trader's extradition to U.S.

UBS says Novelli rejoins as chairman of global M&A

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