UBS denies report Ospel set to leave after one year

Newswire

ZURICH, Feb 24 (Reuters) - Switzerland's UBS on Sunday denied a newspaper report that its Chairman Marcel Ospel would definitely leave after another year at the helm, but reiterated that his future after this period was undecided. On Thursday, UBS proposed re-electing Ospel despite his presiding over $18 billion in subprime writedowns, but said it would reduce his term of office to one year. UBS spokesman Christoph Meier said Ospel had agreed to stand for re-election for another year and ...

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