UBS AG, the Switzerland's biggest bank
announced that Yasuki Matsui, chairman of the investment banking unit in Japan
is going to resign. Matsui is the third UBS Japanese executive after Taiji
Okusu, Credit Suisse's manager of investment banking and CEO of Credit Suisse
Paul Kuo who resigns from European bank this year. UBS did not announce reasons
for Matsui resignation. In September UBS reported $2.3 bn loss and currently is
focusing on asset management.