Lawyer's Nomination As UBS Chairman Draws Flak

Law360, New York (April 16, 2008, 12:00 AM EDT) -- Former UBS AG chief executive Luqman Arnold has called on the Swiss investment bank's board to search for a credible successor to ousted chairman Marcel Ospel, after opposing the nomination of the bank's top lawyer to the post.

Arnold's U.K.-based fund Olivant Advisers Ltd., which holds a stake in the subprime-battered UBS, released a statement Wednesday urging the board to “commit to a proper search” for an independent chairman, and reiterating its concerns about the proposed appointment of the bank's general counsel, Peter Kurer.

“We consider...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.