UBS chief resigns! what abut GIC?

[makapaaa]

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Coffeeshop Chit Chat - UBS chief resigns! what abut GIC?[/TD]
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[TD="class: msgtxt"]UBS CEO Oswald Gruebel resigns
Posted: 24 September 2011 1843 hrs
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Oswald Gruebel (AFP PHOTO / Sebastian DERUNGS)[/TD]
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[TD="class: bodytext, width: 96%"]UBS silent on CEO's fate as Singapore meeting ends[/TD]
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[TD="class: bodytext, width: 96%"]UBS trader "sorry" for massive losses[/TD]
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<!-- END social media sharing functions -->ZURICH - Swiss banking giant UBS announced Saturday that chief executive Oswald Gruebel has handed in his resignation, which was accepted by the board of directors, in the wake of a trading scandal.

Sergio Ermotti has been named as interim CEO effective immediately, a bank statement said, nine days after the arrest of a trader accused of a $2.3 billion fraud at UBS.

While the board "regrets" Gruebel's decision UBS Chairman Kaspar Villiger said in the statement Gruebel "feels that it is his duty to assume responsibility for the recent unauthorised trading incident."

Villiger praised Gruebel for "his uncompromising principles and integrity", and acknowledged that during his tenure "he achieved an impressive turnaround and strengthened UBS fundamentally."

The board also said it would "fully support" the independent investigation into the rogue trading and would ensure that "mitigating measures" were implement to prevent such incidents from recurring.

Kweku Adoboli, 31, the trader accused of the massive fraud at UBS' London offices, is "sorry beyond words" over the losses, his lawyer said Thursday, as a court remanded him in custody for another month.

- AFP /ls
[h=2]So will GIC chiefs also take responsibiity and resign, too?[/h][/TD]
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[TD]60%: No need. We will just offset the losses by paying the Familee more CPF. Hooray![/TD]
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[kunkin]

social media sharing functions -->ZURICH - Swiss banking giant UBS announced Saturday that chief executive Oswald Gruebel has handed in his resignation, which was accepted by the board of directors, in the wake of a trading scandal.

Sergio Ermotti has been named as interim CEO effective immediately, a bank statement said, nine days after the arrest of a trader accused of a $2.3 billion fraud at UBS.

While the board "regrets" Gruebel's decision UBS Chairman Kaspar Villiger said in the statement Gruebel "feels that it is his duty to assume responsibility for the recent unauthorised trading incident."

Villiger praised Gruebel for "his uncompromising principles and integrity", and acknowledged that during his tenure "he achieved an impressive turnaround and strengthened UBS fundamentally."

The board also said it would "fully support" the independent investigation into the rogue trading and would ensure that "mitigating measures" were implement to prevent such incidents from recurring.

Kweku Adoboli, 31, the trader accused of the massive fraud at UBS' London offices, is "sorry beyond words" over the losses, his lawyer said Thursday, as a court remanded him in custody for another month.

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why should the OWNER resign.. if you still dunno they are owners.. then you are blind

 

[Cruxx]

Owner resign, tender resignation to employees

 

[Confuseous]

It cannot be helped. Here is my memo.

http://www.guardian.co.uk/business/2011/sep/24/full-text-memo-ubs-grubel

 

[kunkin]

Owner resign, tender resignation to employees

i mean the owner is lee family

 

[commoner]

the guy resigned liao,,,

his name is Tony Tan Keng Yam,,,,

so whatelse you guys want?

he resigned so he can check the audited reports

 

[Fook Seng]

the guy resigned liao,,,

his name is Tony Tan Keng Yam,,,,

so whatelse you guys want?

he resigned so he can check the audited reports

The auditor to also resign.

 

[Hans168]

why should the OWNER resign.. if you still dunno they are owners.. then you are blind

erh......... all Singaporeans are OWNERS - masters in the words of LHL
GIC is only slave

So one angmoh slave resigned, another must too unless no scruple