Former Head of UBS (UBS) Investment Bank to Depart Firm
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Looks like UBS AG (NYSE: UBS) is losing another good one.
According to the WSJ, Carsten Kengeter is slated to leave the firm. He is currently the head of UBS's noncore division, which oversees billions of dollars in assets that the bank is looking to divest as part of its restructuring.
Prior to his current position, Kengeter was head of UBS investment bank, the unit which housed the 'rogue trader' who was responsible for about $2.3 billion in losses.
Former Bear Stearns exec Sam Molinaro will succeed Kengseter as head of the noncore division.
UBS ended the session up 2.9 percent Tuesday.
According to the WSJ, Carsten Kengeter is slated to leave the firm. He is currently the head of UBS's noncore division, which oversees billions of dollars in assets that the bank is looking to divest as part of its restructuring.
Prior to his current position, Kengeter was head of UBS investment bank, the unit which housed the 'rogue trader' who was responsible for about $2.3 billion in losses.
Former Bear Stearns exec Sam Molinaro will succeed Kengseter as head of the noncore division.
UBS ended the session up 2.9 percent Tuesday.
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