Search for: "Marcel Ospel"
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15 Feb, 2008 4:11 am
... This one jumped out at me from the letter to shareholders signed by Chairman Marcel Ospel and CEO
Marcel Rohner, who sheepishly admitted there had been a "devastating development in our Investment Bank's US residential mortgage business."
Being European, Messrs. Ospel and Rohner may not realize we Americans aren't used to ... hearing corporations use words like "devastating" when
delivering bad news. Les Deux Marcels really should be more culturally sensitive to our delicate ears. What, do they not ...
31 Mar, 2008 5:01 pm
... funds to shore up its dwindling capital base, largely the result of major losses on U.S. mortgage securities. Also embedded in the news: word that the bank's chairman,
Marcel Ospel, will not stand for reelection later this month. Nominated to replace Ospel: the bank's general counsel, Peter Kurer (pictured). Here are stories from the WSJ and the Times of London. Kurer joins a short list of lawyers who
have, in the last several ...
18 Apr, 2008 7:54 am
... , Ethos, and ACTARES opposed the measure, arguing that a capital infusion by way of a rights issue to existing investors should have been made first. The groups also called for
board chairman Marcel Ospel to step down. Amid the furor, the company has agreed to put forward a CHF
15 billion ... 14.9 billion) rights issue for shareholders at its April 23 annual meeting and postpone the discharge votes. Ospel also
announced that he would not stand for re-election to the board.
5 Jul, 2007 3:37 pm
UBS said Thursday that its chief executive, Peter Wuffli, has stepped down after the Swiss investment bank's board refused to appoint him as its next chairman. Mr. Wuffli's departure
comes amid a year of defections and the collapse of an internal hedge fund. UBS' current chairman, Marcel Ospel, had wanted to retire from the bank and [...]
21 Feb, 2008 5:32 am
UBS said Thursday that board members will have to stand for election every year, an indication that the bank is giving in to investor anger over recent subprime troubles. The bank cut
the terms of its 11 board members to one year from three and said three post holders, including chairman Marcel Ospel, would have to [...]
22 Feb, 2008 4:41 am
UBS has quietly sounded out some of Europe's top bankers to join its board of directors and eventually replace the troubled Swiss bank's long-serving chairman, Marcel Ospel, according to The Financial Times. The executives contacted by headhunters acting for the bank include
Robert Diamond, president of Barclays Capital; Michael Cohrs, head of global banking at Deutsche [...]
25 Nov, 2008 6:22 pm
Three former top executives who oversaw subprime losses at the Swiss banking giant UBS said Tuesday that they would forgo 33 million Swiss francs, or $27.7 million, in salary and other
payments. The former chairman, Marcel Ospel, who was in charge as the bank ran up more than $40
billion in write-downs and losses over the [...]
13 Feb 7:19 am
... controls" and "state of the art risk management tactics" were misleading and false because while UBS was providing these reassurances to investors, it was in fact engaged in its tax
evasion scam. In addition to UBS, defendants in the class action case include Marcel Ospel, Phillip
Lofts, Peter Wuffli, Mark Branson, Peter Kurer, Martin Liechti, Peter Kurer, and Raoul Weil. The putative Class is seeking billions of ...
13 Jul 10:21 am
From London, July 13, 2009, BadIdea Blog With its inept former board, massive losses, and harbouring of tax evaders, UBS is the uncoolest thing about Switzerland after Nazi gold and
Lewis Hamilton. The U.S. powers-that-be have decided that UBS's tax evasion antics must be stopped, and they were set to finally start court proceedings today to get the bank to reveal
the names of those American customers who are too stingy to pay for "little people" things like schools and roads. But UBS could now ...
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