By Haig Simonian in Zurich
Published: March 4 2009 07:30 | Last updated: March 4 2009 19:41
Peter Kurer will not seek re-election as chairman of UBS, the stricken Swiss banking group announced Wednesday, in its second move within days to restore its battered reputation.
Mr Kurer will be replaced by Kaspar Villiger, a former Swiss finance minister, completing the shake-up begun last week with the appointment of Oswald Grübel as chief executive.
The departure of Peter Kurer, UBS chairman, will complete a process of renewal at the troubled Swiss bank following last week’s surprise appointment of Oswald Grübel as chief executive
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