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UBS Executive Board Member Charged

The Wall Street Journal reports that Raoul Weil, a member of UBS's executive board, has been charged by US prosecutors with helping US clients evade federal income taxes. The charges come after a probe into allegations that the bank was responsible for helping some of its wealthy clients avoiding tax payments on some $20bn in assets.

Exclusive - Top Firm To Cut Another 3,000 Heads


Here Is The City can exclusively reveal that up to 15% of the combined ABN Amro / Royal Bank of Scotland Global Banking & Markets workforce of some 20,000 staff are likely to lose their jobs as the bank right-sizes headcount to reflect current difficult market conditions.

Another Firm Makes Lehman Up

Bloomberg reports that Deutsche Bank has sued Lehman Brothers Holdings, seeking the return of some $72.5m which was transferred in error to a Lehman account at Bank of America on 26th September - 11 days after Lehman's bankruptcy filing!