Timeline: UBS investment bank mishaps and upheavals

FRANKFURT (Reuters) - Swiss lender UBS on Thursday said a trader had lost around $2 billion from unauthorized trades, warning it might post a loss in the third quarter as it struggles to rebuild credibility after years of crises.

The latest incident follows a string of large losses at the investment bank, followed by management reshuffles.

July 3, 2011 - UBS chairman says the lender is reviewing its mid-term profit goals.

July 1, 2011 - UBS names former Bundesbank president Axel Weber as its next chairman.

March 2011 - UBS reshuffles management at its investment bank as Neal Shear, global head of securities leaves the bank.

October 2010 - The Swiss government commission report is published, recommending that the big banks must hold more capital than global rivals and meet tough standards in areas such as liquidity.

February 26, 2009 - UBS taps Oswald Gruebel, a former Credit Suisse executive, to take the helm at UBS.

March. 2008 - UBS tried to sell off its investment bank in the second half of 2008, and approached Deutsche Bank.

Apr. 2008 - UBS releases a report on the financial crisis in which it admits that systems measuring market risk, credit risk and finance risk had operated independently and failed to inform managers about the "big picture" on risk in the markets.

December 10, 2007 - UBS says "It is now possible that UBS will record a net loss attributable to shareholders for the full year 2007" and announces it will write down its US sub-prime holdings by approximately a further $10 billion.

October 30, 2007 - UBS confirms losses of 4.2 billion Swiss francs in the fixed income, currencies and commodities business of the Investment Bank. It says it will cut 1500 jobs, will implement new risk management methods, and warns the bank "remains exposed to further deterioration in the US housing and mortgage markets."

Oct 1, 2007 - UBS says investment bank CEO Huw Jones will step down and Chief Financial Officer Clive Standish will leave the bank.

July 6, 2007 - UBS announces that Marcel Rohner will succeed Peter Wuffli as CEO.

May 3, 2007 - UBS says it will close down Dillon Read Capital Management after posting a 150 million Swiss francs loss from the internal hedge fund.

June 30, 2005 - UBS announces the formation of a new alternative investment management business, Dillon Read Capital Management. John Costas, Chairman and CEO of UBS's Investment Bank, to lead this business as CEO.

1998 - UBS's investment banking arm Warburg Dillon Read books a pre-tax loss of CHF 1 billion from losses in the equity derivatives portfolio and losses resulting from its involvement in Long-Term Capital Management.

September 23, 1998 - UBS declared a 793 million Swiss franc pre-tax loss on its exposure to hedge fund Long Term Capital Management. The bank also injected $300 million into the fund as part of a bailout coordinated by the US Federal Reserve. Several UBS senior managers resigned on 6 October.

1997 - a trading loss in equity derivatives of more than 600 million Swiss francs ($682 mln) at the Union Bank of Switzerland forced it to accept a reverse takeover by rival Swiss Bank Corporation to form UBS. ($1 = 0.880 Swiss Francs)

(Reporting By Edward Taylor; Editing by Elaine Hardcastle)