F1 still ’key’ for UBS after trader’s billions blunder

A spokeswoman on Thursday insisted UBS’s major formula one sponsorship is still on track.

The Swiss bank made international headlines last week when it emerged a so-called ’rogue trader’ had blown a $2 billion hole in its books.

According to Reuters, the UBS board met on Thursday ahead of the Singapore grand prix at the city-state’s One Raffles Quay tower.

"F1 is a long term sponsorship platform which constitutes a key element of our branding activities," a spokeswoman said in Singapore.