Is Mathis Cabiallavetta the Othello of the financial markets – a man who loved “not wisely but too well”? Dirk Schütz, author of the first history of the SBC/UBS merger, (Der Fall der UBS published by Bilanz), certainly blames Cab’s loyalty for the quality of people he collected round him as he rose to the top of UBS.
“How else can you explain why he entrusted his trading division, the only one in the bank to take on life-threatening risks, to his climbing chum Werner Bonadurer, who admittedly got further than him in ice hockey but had no trading experience?” Risk control was left to his “long-standing workmate” Werner Zimmermann.
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