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Former UBS CEO demands changes |
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Luqman Arnold, the ex Chief Executive of UBS who was forced out of UBS in 2001, is pressing for a shake-up of the bank’s corporate governance, the sale of its asset management division and other units and the ultimate separation of its investment and private banking arms. He is critical of the "disaster" visited on the bank by Marcel Ospel and, like many others, does not support the proposed replacement. In a letter to the UBS he revealed he had built up a 0.7 per cent stake in the bank through Olivant, his investment company. (Olivant’s Press Release to follow.)
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