UBS announced today that it is to appoint David Sidwell, the former CFO of Morgan Stanley, as a non-executive director. Marcel Ospel, the chairman of UBS said Sidwell’s “extensive banking expertise will only further strengthen our board”. Read our February cover story, ‘Board stupid’, which revealed how few bankers actually sit on the boards of the world’s leading financial institutions.
Board stupidEuromoney February 2008 The global banking industry faces its biggest challenge in decades. Hundreds of billions of dollars have been written down and wiped off its market value in the space of just six months. |
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