Kweku Adoboli is a 31-year old trader of Ghanaian origin at Swiss bank UBS in London and was a director of the bank's Global Synthetic Equities Trading team. On 15 September 2011, he was arrested under suspicion of fraud in connection with a loss of an estimated $2 billion due to unauthorised trading at the Swiss group’s investment bank. A spokesperson from the Swiss banking regulator FINMA referred to the case as one of the biggest ever seen at a Swiss Bank. He is a 2003 graduate of the University of Nottingham, where he studied computer science and management.
The loss to UBS has been called "manageable," though it may mean that UBS will report a net loss next year. The bank's net earnings for the year ending June 2011 were $6.4 billion. On September 15, 2011, the day of Adoboli's arrest, the price of the stock of UBS closed down 10.8%, while the price of other European bank stocks closed up between 3-6%.
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