The alleged rogue trades have killed any remaining ambitions UBS might have to compete with the titans of Wall Street.

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.

Kweku Adoboli, a UBS investment bank trader remains in police custody amid allegations that he cost the Swiss bank $2-billion.