nmarks Posted September 24, 2011 Share Posted September 24, 2011 (edited) Link The chief executive of the embattled Swiss bank UBS, Oswald Grübel, 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 Grübel's resignation and paid "testimony to his uncompromising principles and integrity". UBS held their board meeting last week at their head quarters at One Raffles Quay in Singapore, the same building in worked in until April. I have traditionally worked for insurance companies in the UK but took a IT role for Deutsche Bank as a bit of a novelty, only to have all my concerns about contemporary banking confirmed. Hence my own resignation. Edited September 24, 2011 by nmarks Quote Link to comment Share on other sites More sharing options...
newbie Posted September 24, 2011 Share Posted September 24, 2011 Let's pass the virtual hat around for his leaving bonus pool. Quote Link to comment Share on other sites More sharing options...
Redcellar Posted September 24, 2011 Share Posted September 24, 2011 The 67-year-old German, brought out of retirement to try to salvage UBS in 2009 Maybe the whole board ought to consider resigning too. They really should. Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted September 24, 2011 Share Posted September 24, 2011 Maybe the whole board ought to consider resigning too. They really should. The whole board should be made liable for the debt. Shareholders should pursue them. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted September 24, 2011 Share Posted September 24, 2011 Is he going before an embarrassing trial? I can imagine this traders trial will turn into a bit of a circus. Quote Link to comment Share on other sites More sharing options...
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