Former CEO of Swiss bank UBS Marcel Ospel and wife Adriana Ospel-Bodmer (R) attend a Swiss Super League soccer match between FC Zurich (FCZ) and FC Basel (FCB) in Zurich May 11, 2011. REUTERS/Arnd Wiegmann (SWITZERLAND - Tags: SPORT SOCCER BUSINESS) 

Swiss bank UBS Chairman Marcel Ospel grimaces as he attend the extraordinary general meeting of the bank in Basel in this February 27, 2008 file photo. Investors the world over breathed a sigh of relief on October 16, 2008 when the Swiss government rescued UBS. But unbeknownst to them at the time, the bank faced a potentially devastating crisis on a very different front. Kevin Downing, the U.S. Department of Justice Tax Division Attorney who had been investigating UBS since the middle of 2008, wanted the bank to disclose names of U.S. tax evaders as a condition for a settlement. That put UBS in the nightmarish position of either breaching nearly a century of Swiss bank secrecy or risking indictment in the United States. Picture taken February 27, 2008. To match Special Report BANKS/UBS REUTERS/Pascal Lauener (SWITZERLAND - Tags: BUSINESS CRIME LAW) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends the extraordinary general meeting of the bank in Basel in this February 27, 2008 file photo. Investors the world over breathed a sigh of relief on October 16, 2008 when the Swiss government rescued UBS. But unbeknownst to them at the time, the bank faced a potentially devastating crisis on a very different front. Kevin Downing, the U.S. Department of Justice Tax Division Attorney who had been investigating UBS since the middle of 2008, wanted the bank to disclose names of U.S. tax evaders as a condition for a settlement. That put UBS in the nightmarish position of either breaching nearly a century of Swiss bank secrecy or risking indictment in the United States.. Picture taken February 27, 2008. To match Special Report BANKS/UBS REUTERS/Christian Hartmann/Files (SWITZERLAND - Tags: BUSINESS CRIME LAW) 

Social Democrats Party (SPS) President Christian Leuvrat (L) posts a letter of complaint about an offence by UBS chairman Marcel Ospel and former chairman Peter Kurer, at the central post office in Bern August 14, 2009. REUTERS/Ruben Sprich (SWITZERLAND POLITICS) 

Social Democrats Party (SPS) President Christian Leuvrat (R) posts a letter of complaint about an offence by UBS chairman Marcel Ospel and former chairman Peter Kurer, at the central post office in Bern August 14, 2009. REUTERS/Ruben Sprich (SWITZERLAND POLITICS) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (L) gives a key to designated UBS Chairman of the Board of Directors Peter Kurer during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Designated Swiss bank UBS Chairman of the Board of Directors Peter Kurer is seen on a giant TV screen as his predecessor Marcel Ospel sits in front during the general shareholder meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (L) gives a key to designated UBS Chairman of the Board of Directors Peter Kurer during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel holds an oversized key during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel gestures during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel gestures during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (R) sits beside his designated successor general counsel Peter Kurer during the general shareholders meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel holds up a tube of mustard during the general shareholders meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (R) addresses the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (R) arrives as his designated successor general counsel Peter Kurer sits beside before the general shareholders meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel waves after addressing the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Swiss bank UBS general counsel Peter Kurer gestures during the general shareholders meeting of the bank in Basel April 23, 2008. Kurer is designated successor of outgoing UBS Chairman of the Board of Directors Marcel Ospel. REUTERS/Stefan Wermuth (SWITZERLAND) 

Swiss bank UBS general counsel Peter Kurer adjusts his glasses during the general shareholder meeting of the bank in Basel April 23, 2008. Kurer is designated successor of outgoing UBS Chairman of the Board of Directors Marcel Ospel. REUTERS/Stefan Wermuth (SWITZERLAND) 

Swiss bank UBS general counsel Peter Kurer gestures during the general shareholder meeting of the bank in Basel April 23, 2008. Kurer is designated successor of outgoing UBS Chairman of the Board of Directors Marcel Ospel. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (R) listens to his designated successor general counsel Peter Kurer during the general shareholder meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel addresses the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel addresses the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Arnd Wiegmann (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel adjusts his glasses as he addresses the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel gestures after addressing the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel gestures after addressing the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Outgoing Swiss bank UBS Chairman of the Board of Directors Marcel Ospel gestures after addressing the shareholders during the general meeting of the bank in Basel April 23, 2008. REUTERS/Stefan Wermuth (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer adjusts his glasses as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Chairman Marcel Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman Marcel Ospel grimaces as he attend the extraordinary general meeting of the bank in Basel February 27, 2008. Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman Marcel Ospel reacts as he attend the extraordinary general meeting of the bank in Basel February 27, 2008. Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer (L) talks with Chairman Marcel Ospel at the extraordinary general meeting of the bank in Basel February 27, 2008. Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer (L) talks with Chairman Marcel Ospel as they attend the extraordinary general meeting of the bank in Basel February 27, 2008. Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer adjusts his glasses as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Chairman Marcel Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer gestures as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Chairman Marcel Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer gestures as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Chairman Marcel Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS group's general counsel Peter Kurer adjusts his glasses as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Chairman Marcel Ospel said he decided to leave the job after the bank was forced to go to shareholders for a second time in as many months for emergency capital. The group's general counsel, Peter Kurer, was proposed as his replacement. Picture taken February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends a news conference after the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS backed a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor but heaped scorn on Ospel over subprime losses. The vote, carried by a large majority at an extraordinary shareholders' meeting, came after Ospel appealed to investors, saying the funds were vital to the bank's future. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman Marcel Ospel attends a news conference after the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS backed a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor but heaped scorn on Ospel over subprime losses. The vote, carried by a large majority at an extraordinary shareholders' meeting, came after Ospel appealed to investors, saying the funds were vital to the bank's future. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman Marcel Ospel attends a news conference after the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS backed a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor but heaped scorn on Ospel over subprime losses. The vote, carried by a large majority at an extraordinary shareholders' meeting, came after Ospel appealed to investors, saying the funds were vital to the bank's future. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman Marcel Ospel attends a news conference after the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS backed a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor but heaped scorn on Ospel over subprime losses. The vote, carried by a large majority at an extraordinary shareholders' meeting, came after Ospel appealed to investors, saying the funds were vital to the bank's future. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel looks on as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. UBS Chairman Marcel Ospel, braving investor fury over huge subprime losses, said it was "absolutely necessary" for shareholders to back a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel is silhouetted as he walks on stage during the extraordinary general meeting of the bank in Basel February 27, 2008. UBS Chairman Marcel Ospel, braving investor fury over huge subprime losses, said it was "absolutely necessary" for shareholders to back a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS shareholders attend a voting session as they attend the extraordinary general meeting of the bank in Basel February 27, 2008. UBS Chairman Marcel Ospel, braving investor fury over huge subprime losses, said it was "absolutely necessary" for shareholders to back a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor. Shareholders voted down a motion by advocacy group Ethos for a special audit to establish how UBS, which was reputed to have one of the best risk management systems in the financial industry, got bogged down in the subprime quagmire.
REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel leaves the stage after an incident during the extraordinary general meeting of the bank in Basel February 27, 2008. Thomas Minder leader of the Swiss initiative committee "against rip-off" was removed by security guards as he tried to make an unscheduled address to shareholders from the stage. REUTERS/Pascal Lauener (SWITZERLAND) 

Thomas Minder leader of the Swiss initiative committee "against rip-off" (R) talks with UBS Chairman of the Board of Directors Marcel Ospel during the extraordinary general meeting of the bank in Basel February 27, 2008. Minder was removed by security guards as he tried to make an unscheduled address to shareholders from the stage. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends the extraordinary general meeting of the bank in Basel February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he adjusts his glasses during the extraordinary general meeting of the bank in Basel February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he adjusts his glasses during the extraordinary general meeting of the bank in Basel February 27, 2008. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel (L) and CEO Marcel Rohner arrive to the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages.REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel is seen on a giant screen as he addresses shareholders during the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages.REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel is seen on a giant screen as he addresses shareholders during the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages.REUTERS/Christian Hartmann (SWITZERLAND) 

Ethos Foundation's Executive Director Dominique Biedermann attends the extraordinary general meeting of the Swiss bank UBS in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Ethos Foundation's Executive Director Dominique Biedermann attends the extraordinary general meeting of the Swiss bank UBS in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel reacts as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18
billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18
billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18
billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Christian Hartmann (SWITZERLAND) 

Swiss bank UBS Chairman of the Board of Directors Marcel Ospel drinks a glass of water as he attends the extraordinary general meeting of the bank in Basel February 27, 2008. Shareholders in UBS are set to approve a 13 billion Swiss franc ($11.94 billion) capital injection from Singapore and an unidentified Middle East investor on Wednesday but are also likely to vent their wrath at chairman Marcel Ospel over huge subprime losses. Ospel has survived at the helm of the giant Swiss bank after culling top managers over the past year as UBS chalked up $18 billion in charges after making disastrous investments in U.S. subprime mortgages. REUTERS/Pascal Lauener (SWITZERLAND)