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UBS Top Job A Poisoned Chalice

Being at the helm of Switzerland’s best-known bank might once have been the pinnacle of a Swiss banker’s ambition, but few today envy UBS chief executive Marcel Rohner as he struggles to rebuild the battered bank.

Investors Unfazed by Bottom-Line Hits

Despite some big hits taken by the big banks, Wall Street appears unfazed.

Both Swiss-based UBS and New York-based Citigroup forecast hits to their respective bottom lines for the third quarter, largely tied to subprime bleeding, but investors appeared to take the news in stride.