UBS replaces risk chief in wake of trading scandal

UBS has replaced its head of risk, Maureen Miskovic, with Philip Lofts as the bank attempts to reorganise its management after a $2.3 billion trading loss earlier this year.

UBS replaces risk chief in wake of trading scandal

Maureen Miskovic is leaving UBS, where she has spent less than one year as group chief risk officer.

She leaves in the wake of the $2.3 billion unauthorised losses caused by Kweku Adoboli that the risk department failed to catch losses that also prompted the departure of UBS chairman Oswald Gruebel.

She is replaced by her predecessor, Philip Lofts, who left the risk job to become CEO of UBS in America....

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