UBS: bye Mack

Jerker Johansson is unlikely to offer UBS a magic bullet. Getting a boss for the Swiss bank’s problem child – its investment bank – fills a big void. And Johansson is a bigger catch than the largely symbolic role of European vice-chairman at Morgan Stanley suggests. The departure of close ally Zoe Cruz left him on the wrong side of the political tracks with boss John Mack. But while he appears a decent enough catch, Johansson can’t mend the group on his own. Sure, he should put some momentum beh...