Head rolls at UBS

Oswald Grübel takes responsibility for the $2.3 billion trading loss at UBS and resigns as group CEO. He is replaced, on an interim basis, by Sergio Ermotti who joined UBS in April.

Time is up for Grübel AFP

After resisting calls for his departure for more than a week, Oswald Grübel resigned from his job as group chief executive officer of UBS over the weekend. He was replaced on an interim basis by Sergio Ermotti.

Grübel's future at the bank has been in question since the Swiss bank announced a multi-billion dollar loss related to equity trading earlier...

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