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Gruebel third UBS CEO to resign in four years; board makes statement

In the wake of UBS chief executive Oswald Gruebel’s resignation from his position on Saturday in the aftermath of losses of US$2.3billion at the bank on account of unauthorized trading, the board at UBS has said it “regrets Grübel’s decision.” This is UBS’ third CEO departure since 2007, indicative of the bank’s trials with rebuilding its business in the aftermath…

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