There’s nothing like a good piece of news management. UBS had the chance to show its skills with its handling of Markus Granziol’s departure.
Granziol’s decision to resign as chairman of UBS Warburg in May was not a complete shock. It was always likely after he lost the post of chief executive of investment banking at the same time as UBS chairman Marcel Ospel removed Luqman Arnold from the presidency of the group executive board.
Nevertheless the timing of the move was unexpected.
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