The $2.3 Billion Mis-Hire
How much can hiring the wrong person cost? If you’re UBS, $2.3 billion. That’s the most recent estimate of UBS’s losses due to allegedly unauthorized trades by Kweku Adoboli, who worked a London-desk in UBS’s Global Synthetic Equity business. I say “allegedly” because I’m writing in the USA, in which we’re allegedly supposed to assume [...]
