UBS’s board of directors on Tuesday said it would not start legal action against former top executives, as the biggest Swiss bank tries to draw a line under massive losses over the past two years. The decision echoes one by public prosecutors in Zurich, headquarters of UBS. Although no individuals were identified by the bank or prosecutors, attention had focused on former chairman Marcel Ospel and Peter Kurer, former general counsel and Ospel’s successor.

This entry was posted by Gwen Robinson on Wednesday, December 16th, 2009 at 4:53 and is featured in The 6am Cut London (16 Dec 2009) . Tagged with ubs. Edit this entry.