Skip to main content
Tags: EU | UBS | Trading | Scandal

Report: UBS CEO Not Resigning in Trading Scandal

Sunday, 18 September 2011 06:26 AM EDT

GENEVA (AP) — The chief executive of UBS says he feels responsible but not guilty for the $2 billion loss a rogue trader has caused the Swiss bank.

Oswald Gruebel told the Swiss weekly Der Sonntag in an interview Sunday he also isn't thinking about resigning.

Gruebel was brought in more than two years ago to lead UBS out of a series of missteps that have heavily damaged the biggest Swiss bank's reputation. He told the paper in his first interview since UBS announced the loss Thursday that he was "responsible for everything that happens at the bank."

He added "but if you ask me whether I feel guilty, then I would say no."

A 31-year-old trader, Kweku Adoboli, is being held in London on charges of fraud and false accounting.

© Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Newsfront
GENEVA (AP) — The chief executive of UBS says he feels responsible but not guilty for the $2 billion loss a rogue trader has caused the Swiss bank.Oswald Gruebel told the Swiss weekly Der Sonntag in an interview Sunday he also isn't thinking about resigning.Gruebel was...
EU,UBS,Trading,Scandal
130
2011-26-18
Sunday, 18 September 2011 06:26 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
TOP

Interest-Based Advertising | Do not sell or share my personal information

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved
Download the NewsmaxTV App
Get the NewsmaxTV App for iOS Get the NewsmaxTV App for Android Scan QR code to get the NewsmaxTV App
NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved