Ospel out

Davos is normally a high point on Marcel Ospel’s calendar. The World Economic Forum in the Swiss mountain retreat is held on the UBS chairman’s home turf. But next week’s Davos should be Ospel’s last representing UBS. The Swiss bank’s chairman will be something of an odd man out at the forum. UBS is one of the three big global banks that have been worst hit by the credit crunch. The bosses of the other two - Citigroup’s Chuck Prince and Merrill Lynch’s Stan O’Neal - have both quit. But Ospel is...