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Sovereign Wealth Funds Briefing - Categorized | Investment, Performance

Singapore’s GIC hits out at UBS lapses

Posted on 22 September 2011

The Government of Singapore Investment Corporation (GIC), the largest shareholder of Swiss bank UBS, has expressed “disappointment” to the bank’s board over the lapses relating to the recent 2.3 billion U.S. dollars loss from unauthorized trading.
Local daily the Business Times said in a report on Wednesday that the senior management of UBS, including chief executive officer Oswald Gruebel, met with representatives of GIC on Tuesday……………………………………….Full Article: Source


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