GENEVA (AP) — The chief executive of UBS says he feels
responsible but not guilty for the $2 billion loss a rogue trader has
caused the Swiss bank.
Oswald Gruebel told the Swiss weekly Der Sonntag in an interview Sunday he also isn’t thinking about
resigning.
Gruebel
was brought in more than two years ago to lead UBS out of a series of
missteps that have heavily damaged the biggest Swiss bank’s reputation.
He told the paper in his first interview since UBS announced the loss
Thursday that he was "responsible for everything that happens at the
bank."
He added "but if you ask me whether I feel guilty, then I would say no."
A 31-year-old trader, Kweku Adoboli, is being held in London on charges of fraud and false accounting.

Copyright 2011 The Associated Press.
GENEVA (AP) — The chief executive of UBS says he feels
responsible but not guilty for the $2 billion loss a rogue trader has
caused the Swiss bank.
Oswald Gruebel told the Swiss weekly Der Sonntag in an interview Sunday he also isn’t thinking about
resigning.
Gruebel
was brought in more than two years ago to lead UBS out of a series of
missteps that have heavily damaged the biggest Swiss bank’s reputation.
He told the paper in his first interview since UBS announced the loss
Thursday that he was "responsible for everything that happens at the
bank."
He added "but if you ask me whether I feel guilty, then I would say no."
A 31-year-old trader, Kweku Adoboli, is being held in London on charges of fraud and false accounting.

Copyright 2011 The Associated Press.