Oswald Jürgen Grübel (born November 23, 1943) is a

German German(s) may refer to: * Germany (of or related to) ** Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

banker who was the group chief executive officer of Swiss bank

UBS AG UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Co-headquartered in the cities of Zürich and Basel, it maintains a presence in all major financial centres as the largest Swis ...

from 26 February 2009 until his sudden resignation on the 24 September 2011 in the wake of the 2011 UBS rogue trader scandal. Previously, he has been head of Credit Suisse between 2003 and 2007."Oswald Gruebel"
'WSJ''. Accessed 15 March 2016.]

Education

Grübel did not attend university, but took an

apprenticeship Apprenticeship is a system for training a new generation of practitioners of a trade or profession with on-the-job training and often some accompanying study (classroom work and reading). Apprenticeships can also enable practitioners to gain a ...

in banking and securities trading at

Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ...

in Mannheim and Frankfurt.

Career

Grübel began his career at a White Weld & Co. joint venture with Credit Suisse in the 1970s. Before joining UBS, Grübel was at Credit Suisse from 1985 until 2007, leading the firm since 2003. He was CEO of Credit Suisse Financial Services from 2002 to 2004 and was co-CEO of Credit Suisse Group (with John J. Mack) from 2003 until 2004. Mr. Grübel was a member of the Credit Suisse Group Executive Board between 1997 and 2001 and again from 2002 to 2007. He became the sole CEO with the ousting of John Mack in 2004. After he retired in May 2007, he still held a board position at the

Winterthur Group Axa Winterthur is a multinational insurance company. The original company named Winterthur was founded in Winterthur, Switzerland, in 1875. From 1997 to June 2006, Winterthur was a Credit Suisse (CS) subsidiary. Now, Paris-based Axa Insurance has e ...

insurance company (a part of AXA) from 2007 until 2009. As chairman of the CEO position at UBS he made a promise that he will lead the bank back to the profit zone of 15 billion USDS in 2014.Cash Online (Finance News Portal)
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Resignation from UBS group

On 24 September 2011, the UBS board announced that Oswald Gruebel had resigned. Earlier he had been under pressure having assumed the full responsibility for the USD 2.3 billion loss resulting from the 2011 UBS rogue trader scandal. Several local newspaper brought up that he might have left due to the pressure of the main stakeholders.Süddeutsche Zeitung (German only)
additional text.

References

{{DEFAULTSORT:Grubel, Oswald J. 1943 births Living people German chief executives Credit Suisse people UBS people