Marcel Ospel and his grip on power
There is an interesting piece in the FT this morning about the growing pressure on Marcel Ospel, chairman of UBS, over the bank’s cumulative $18bn write-down on US mortgage securities.
The article refers to his "reputation as a cold-blooded power broker". I have no inside knowledge of that but I do know that he has remarkable staying power.
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John Gapper is an associate editor and the chief business commentator of the FT.
He has worked for the FT since 1987, covering labour relations, banking and the media. He is co-author, with Nicholas Denton, of All That Glitters, an account of the collapse of Barings in 1995.
Andrew Hill is an associate editor and the management editor of the FT. He is a former City editor, financial editor, comment and analysis editor, New York bureau chief, foreign news editor and correspondent in Brussels and Milan.
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