Swiss bank UBS Chief Executive Officer Marcel Rohner looks down as he addresses the audience during the results news conference of the bank in Zurich February 10, 2009. REUTERS/Christian Hartmann
Ex-UBS CEO Rohner says "shocked, ashamed" at Libor rigging
Posted : Thursday, 10 January 2013 05:12AM
LONDON (Reuters) - UBS's <UBS.VX> former boss Marcel Rohner said he was "shocked" and "ashamed" when he heard about the Swiss bank's rigging of Libor interest rates, he told UK lawmakers on Thursday.
"I was shocked when I read about it ... I felt embarrassed and ashamed," Rohner said as UBS's former bosses were quizzed by Britain's Parliamentary Commission on Banking Standards following a string of scandals.
UBS was fined a record $1.5 billion last month for manipulating Libor interest rates, the latest in a run of scandals including a $2.3 billion rogue-trading loss and a damaging tax avoidance row with the United States.
(Reporting by Steve Slater; Editing by Carmel Crimmins)
(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp