UBS CEO Gruebel Resigns Over Rogue Trading Loss

By: Associated Press
By: Associated Press

Swiss bank UBS says its chief executive has resigned over a $2.3 billion rogue trading loss.

The bank says its Europe chief Sergio P. Ermotti will take over
as interim chief executive until Oswald Gruebel's replacement is
appointed.

UBS board president Kaspar Villiger said in a statement Saturday
that Gruebel had considered it his duty to take responsibility for
the massive loss caused by unauthorized trading at its London-based
investment banking unit.


Join the Conversation!

To comment, the following rules must be followed:

  • No Obscenity, Profanity, Vulgarity, Racism or Violent Descriptions
  • No Negative Community Comparisons
  • No Fighting, Name-calling, Trolling or Personal Attacks
  • Multiple Accounts are Not Allowed
  • Stay on Story Topic

Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.

Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to comments@kbtx.com. Please provide detailed information.

powered by Disqus
KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 130493273 - kbtx.com/a?a=130493273