Top Swiss banker goes after subprime losses

Ospel had removed most of UBS's top management since the subprime debacle broke. CEO Peter Wuffli stood down in July and was replaced by Marcel Rohner, who until then had been running the bank's wealth management business. UBS later replaced its chief financial and risk officers.

The subprime crisis has also claimed high-profile victims in rival financial institutions, piling pressure on Ospel to go.

Citigroup's head, Charles Prince, and Merrill Lynch CEO Stan O'Neal have been some of the biggest casualties, both forced out last year after the banks they ran took hefty charges.

(Editing by Quentin Bryar)