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UBS Loses Its Asia Pacific Chief
Swiss banking giant UBS(UBS Quote) said Rory Tapner, chairman and CEO of its Asia Pacific operations, is leaving the company after 25 years and will be replaced by Chi-Won Yoon.
Tapner has held the top post in Asia for five years. UBS didn't provide a reason for Tapner's departure in a press release Thursday.
Tapner's departure is a reminder of UBS's troubles retaining staff as it seeks to return to profitability and deal with the Swiss government, which was forced to shore up the bank in October, the Wall Street Journal notes. Since then, UBS's chairman has complained that UBS is having trouble holding on to talented bankers amid criticism of its pay and bonus plans. ...
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