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UBS credit derivatives head Grimaldi departs

Posted on 20 February 2009

From Reuters: UBS AG’s global head of credit derivatives, Keith Grimaldi, left the Swiss bank on Thursday, people familiar with the situation said.

Grimaldi joined a parade of fixed-income executives who have left as the bank embarks on a “radical” restructuring of its investment banking and trading business. UBS has been battered by more than $50 billion in credit losses during the past two years, most stemming from its exposure to mortgage securities and debt-derivatives….. Full Article: Source


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