The alleged rogue trades have killed any remaining ambitions UBS might have to compete with the titans of Wall Street.
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/ 24 September 2011
UBS’s chief executive Oswald Gruebel resigned on Saturday, taking the blame after its banking business lost $2.3-billion in alleged rogue trading.
Swiss banking giant UBS’s boss does not feel guilty about the $2-billion rogue trading that occurred in his bank and isn’t resigning.
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/ 16 September 2011
Kweku Adoboli, a UBS investment bank trader remains in police custody amid allegations that he cost the Swiss bank $2-billion.