UBS

Danish outsourcing firm ISS launched a $2.1bn-equivalent IPO on Tuesday, trying a listing again for the fourth time with reduced leverage ratios and better market conditions.

Swiss syndicate bankers are expecting a renewed surge of emerging market issuance in the near future, with Indian issuer Bharat Petroleum and Brazilian financial Banco Safra both mandating for roadshows next week.

UBS Securities will buy a majority shareholding in Shanghai Pumin Futures, a Chinese brokerage, making it the first foreign invested securities firm in China that is licensed to carry out a full range of services.

The investment bank was the most profitable part of the UBS empire in 2013, scotching suggestions about a possible spin-off, writes David Rothnie

The Swiss bank’s new-look FIG team has confounded the sceptics, writes David Rothnie.

David Soanes has emerged as one of the winners in UBS’s reshuffle as the group shifts the management of its investment bank onto a regional footing and separates its corporate client and trading activities.