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Rogue trader or Rogue Bankers - UBS Chief Executive Resigns

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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-24-11 06:09 AM
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Rogue trader or Rogue Bankers - UBS Chief Executive Resigns
The chief executive of the embattled Swiss bank UBS, Oswald Grubel, has quit after the bank lost an estimated $2.3bn (£1.5bn) in the alleged rogue trading scandal.

Sergio Ermotti, the bank's head of Europe, Middle East and Africa, will take over as CEO for now.

The bank said it had accepted Grubel's resignation and paid "testimony to his uncompromising principles and integrity". (Yeh right - :rofl: )

The board said in a statement it had asked management to accelerate an overhaul of the investment bank already under way "concentrating on advisory, capital markets, and client flow and solutions businesses".
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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-24-11 06:13 AM
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1. I guess 2008 was not about uncompromising principles and integrity
That's when they all should have resigned or been charged for criminality :puke:
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