Extra $19bn write-down for UBS
Swiss bank battered by sub-prime aftershock to the tune of $19m forcing chairman Marcel Ospel to hand in his notice
UBS has suffered another write-down of $19bn (£9.6bn), the bank has
This latest aftershock of the sub-prime upheaval cost chairman Marcel Ospel
his job, as he agreed to step down later this year,
UBS is Europe’s biggest victim of the US mortgage issues after taking an
$18bn hit last year.