(Bloomberg) -- UBS AG's credit risk rose to the
highest in more than 1 1/2 years after the world's biggest money
manager ousted Peter Wuffli as chief executive officer,
according to traders of credit-default swaps.
UBS replaced Wuffli with his deputy Marcel Rohner
yesterday, after losses at one of its hedge funds and declining
earnings for the past three quarters. The Zurich-based bank shut
its Dillon Read Capital Management LLC unit, championed by
Wuffli, 49, at a cost of $300 million in May.
Read more at Bloomberg Bonds News
highest in more than 1 1/2 years after the world's biggest money
manager ousted Peter Wuffli as chief executive officer,
according to traders of credit-default swaps.
UBS replaced Wuffli with his deputy Marcel Rohner
yesterday, after losses at one of its hedge funds and declining
earnings for the past three quarters. The Zurich-based bank shut
its Dillon Read Capital Management LLC unit, championed by
Wuffli, 49, at a cost of $300 million in May.
Read more at Bloomberg Bonds News
No comments:
Post a Comment