Chairman of the Board Marcel Ospel at a general assembly on February 27, 2008. (Keystone/Alessandro Della Bella)
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After the extraordinary general assembly in Basel on October 2, 2008. (Keystone/Alessandro Della Bella)
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Marcel Ospel gives Peter Kurer the "key" to his office at the annual meeting on April 23, 2008. (Keystone/Steffen Schmidt)
Keystone
UBS headquarters at Paradeplatz in Zurich on January 18, 2009. (Keystone/Steffen Schmidt)
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Extraordinary general assembly in Lucerne on November 27, 2008. (Keystone/Steffen Schmidt)
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View of UBS office building on 6th Avenue in New York. (Keystone/Martin Ruetschi)
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CEO Oswald Grübel at a news conference on August 4, 2009. (Keystone/Steffen Schmidt)
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Paradeplatz in Zurich on January 28, 2009. (Keystone/Urs Jaudas)
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Paradeplatz in Zurich on October 23, 2008. (Keystone/Steffen Schmidt)
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After a demonstration in Basel on January 27, 2007. (Keystone/Georgios Kefalas)
Keystone
The banking giant during troubled times.
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Over the past few years, UBS has garnered a lot of negative press. Extraordinary general assemblies and public protests have been occuring with increasing frequency.
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UBS chairman wants “radical transformation”
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Peter Kurer also believes Switzerland’s largest bank will be profitable again next year. UBS is Europe’s hardest hit victim of the current credit crisis, having written down about $42 billion (SFr46 billion) of investments. Last week, the group announced a second-quarter loss of SFr358 million at the same time as separating its investment banking, asset…
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Former chairman Marcel Ospel is among a host of directors and executives blamed by many for leading the bank into trouble. Their leadership has led to questions about possible civil or criminal liability. UBS was the worst-hit European bank from the subprime mortgage-induced financial crisis. It was also forced to hand over confidential client data…
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Reaction to UBS agreement in principle Martin Naville, CEO of the Swiss-American Chamber of Commerce, describes the importance of the agreement in principle in the UBS case.
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