UBS's Bauer Departs Global Post Ahead Of Planned Merger With SBC

- By FX Markets Staff
- @FXMarkets_
- 19 Jan 1998

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The abrupt departure of Hans-Peter Bauer, Union Bank of Switzerland's London-based global head of fixed income, currencies and derivatives, comes as a surprise to the market so shortly before the impending merger with Swiss Bank Corporation. Officials at the bank confirm Bauer's departure, but decline to comment on speculative press reports that Bauer was dismissed in connection with derivatives losses that may have exceeded the CHF200 million ($137 million) previously reported last year.

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