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(Image from article: "UBS chief resigns after $2.3B scandal")

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UBS chief resigns after $2.3B scandal

The head of Swiss banking giant UBS Oswald J. Gruebel has resigned in the wake of a $2.3 billion loss in unauthorized trading, the bank announced Saturday.

Trader "sorry" as UBS chief fights for bank and job

While UBS CEO Oswald Gruebel battled to keep the Swiss bank's investment arm and save his job, the trader accused of unauthorized deals that lost the bank $2.3 billion said he was "sorry beyond words."

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