Dienstag, April 22, 2008
UBS chairman: Kurer replaces Ospel
Shareholders at Switzerland's biggest bank, UBS, will decide on Wednesday if its chief legal expert is a suitable replacement for Marcel Ospel as chairman of the troubled group.
Peter Kurer was nominated for the position vacated by Ospel after the bank suffered $37 billion (SFr37.6 billion) in subprime losses. But stinging opposition to Kurer has been highly publicised.
The next UBS chairman would be expected to steer the bank's turnaround following a disastrous 12 months. The nomination of Kurer surprised many observers because, as general counsel at UBS, he is not only an insider but has limited banking experience.