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UBS chairman sees financial crisis as possibly the most difficult since 1929

UBS chairman sees financial crisis as possibly the most difficult since 1929

UBS AG's chairman sees the current financial crisis as possibly the most difficult since the stock market crash of 1929.
Marcel Ospel has told shareholders that he is determined to stay on at the helm of Switzerland's largest bank.
He believes he can steer UBS back into financial health from the billions it has racked up in losses linked to the U.S. subprime mortgage crisis.
Thousands of UBS shareholders are attending an extraordinary meeting in Basel. Some are calling for Ospel to resign.


Updated : 2021-04-22 19:26 GMT+08:00