Southpaw: Safe hands or showing a lack of ideas? Grübel goes on the defensive at UBS

30 Apr 2009

UBS’s new co-heads of its investment bank have little to offer their morale-battered staff beyond yet another plea for trust and loyalty. But that might, just, be enough, writes David Rothnie.

UBS chief executive Ossie Grübel has long had a reputation for pragmatism, and he has displayed the same quality in his decision to replace Jerker Johansson as chief executive after only 14 months in charge at the Swiss firm’s troubled investment banking division.

However, his adoption of a co-headed ...

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