UBS has announced who will conduct the bank’s internal probe into the rogue trade that cost the bank $2.3 billion last week.Businessweek reports that former Morgan Stanley executive David H. Sidwell will lead an investigative committee of three executive board members. He will be joined by Joseph Yam and Ann Godbehere.
These picks show that UBS is pretty serious about getting to the bottom of this, just check out each committee member’s individual track records:
Ann Godbehere (also known as, the “cat whisperer”):
- Creepy nicknames aside, (apparently Godbehere loves to take in stray cats), this Canadian has a history of sitting on auditing committees at high profile companies including Prudential, Rio Tinto, Atrium Underwriting Group, and Aerial Group.
- Most of her 25 year career was spent at Swiss Re, where she eventually became CFO in 2003. She held that position until 2007.
- From 2008-2009 she was CFO and director of Northern Rock, which had just been taken over by the British government.
- Aside from cats, she also collects jugs.
- Yam is the founder and former Chief Executive of the Hong Kong monetary authority. ‘Nuff said.
- He was there for about 40 years, starting in 1971, during which he established Hong Kong’s linked exchange rate and helped transition the financial system into Chinese sovereignty.
- In 2007 Yam was the highest paid central banker in the world.
- If you read Chinese, you can check out his blog here. Some posts are in English, but not many.
David H. Sidwell:
- Sidwell served as Executive VP and CFO of Morgan Stanley from 2004 to 2007.
- Before that, he was with Pricewater House LLC from 1975 to 1984.
- Then he moved to JP Morgan from 1984 to 2004 where he climbed the ranks until he became CFO of their investment bank (2000-2004).
- Interesting: He’s been a Fannie Mae director since 2008 and serves as a Trustee of the International Accounting Standards Committee Foundation
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