UBS on Tuesday cleared out a third of its board of directors, making room for up to four newcomers with significant financial experience to help guide Europe’s biggest casualty of the US subprime turmoil.

The move came as Daniel Zuberbühler, director of the Swiss Federal Banking commission, stepped up pressure on UBS and Credit Suisse, the country’s two biggest banks, to accept higher capital targets than their foreign peers because of their importance for the economy.