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Sovereign Wealth Funds Briefing - Categorized | Financials, Fund Management/Administration, Performance

GIC supported UBS ex-CEO Gruebel’s strategic plan

Posted on 28 September 2011

UBS AG’s largest shareholder supported former chief executive Oswald Gruebel’s strategic plan for the bank and believed he could have stayed on to manage it through the latest crisis, a source with direct knowledge of the matter said on Tuesday.
The faith of Government of Singapore Investment Corp Pte Ltd, the bigger of the city-state’s two sovereign wealth funds, in UBS’s departed CEO underscores the complexity of Gruebel’s resignation and reveals the extent to which a variety of internal and external factors, including political pressure, played a role in his exit……………………………………….Full Article: Source


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