In July, UBS (nyse: UBS - news - people ) Chief Executive Peter Wuffli resigned abruptly.

FORBES: Street Quakes As Another Chief Falls

The ouster of Wuffli is seen by many as a rebuff to Ospel, who had been grooming Wuffli as his successor.

FORBES: Magazine Article

Stanley O'Neal of Merrill Lynch, Charles Prince of Citigroup, and Peter Wuffli at UBS have all been pushed out over their firms' subprime-related losses.

FORBES: Magazine Article

In July, Peter Wuffli stepped down abruptly as chief executive of UBS months after that firm took big losses from subprime mortgage holdings and shut down its Dillon Read hedge fund unit.

FORBES: Magazine Article

The appointment of MarcelRohnerMarcel Rohner as UBS chief executive to replace the ousted PeterWuffliPeter Wuffli signals a change of focus at the Swiss bank, toward wealth management and away from its riskier investment banking division.

FORBES: Magazine Article

Ostensibly, that is why Mr Wuffli was replaced by Marcel Rohner, the new boss, though it is not clear whether the 42-year-old former private banker and risk manager has the hard edge to cut it in investment banking.

ECONOMIST: UBS falls from grace

Analysts have taken this as a clear sign that the company will be focusing on this division after the poor performance of its investment banking division, which many have seen as the reason behind the board's decision to push Wuffli out.

FORBES: UBS' New Man At The Top

In July, Peter Wuffli stepped down abruptly as chief executive of UBS (nyse: UBS - news - people ) months after that firm took big losses from subprime mortgage holdings and shut down its Dillon Read hedge fund unit.

FORBES: O'Neal Steps Aside At Merrill

Stanley (nyse: SXE - news - people ) O'Neal of Merrill Lynch (nyse: MER - news - people ), Charles Prince of Citigroup (nyse: C - news - people ), and Peter Wuffli at UBS (nyse: UBS - news - people ) have all been pushed out over their firms' subprime-related losses.

FORBES: Bear Names New Head Of Securities Unit