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GENEVA — Oswald Gruebel, the chief executive of UBS, has dismissed calls for his resignation as politically motivated, even as the Swiss banking giant raised its rogue trading loss to $2.3 billion.
UBS AG had previously put the loss at $2 billion when news of the scandal first broke Thursday.
In a bid to reassure investors, the Zurich-based bank said Sunday it has "now covered the risk resulting from the unauthorized trading" and its equities business "is again operating normally within its previously defined risk limits."
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Zachary A. Goldfarb 19 Sep, 2011
Zachary A. Goldfarb --
Source: http://feeds.washingtonpost.com/click.phdo?i=e7d7d1cd6e52c7fe95b2e73f97ba7712
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