ubs: Peter out

Swiss banks have rediscovered their knack for boardroom coups. They appeared to have lost their appetite for ousters when Credit Suisse staged a smooth changing of the guard earlier this year. UBS chief executive Peter Wuffli hasn’t been so lucky. He’s lost his job at a moment’s notice, in the tradition of his predecessor Luqman Arnold and former CS bosses like Lukas Muehlemann and John Mack. But why? UBS’s official explanation hardly seems to tell the whole story. It’s not obvious that Wuffli’...