January 10, 2013 / 10:11 AM / 5 years ago

Ex-UBS CEO Rohner says "shocked, ashamed" at Libor rigging

LONDON, Jan 10 (Reuters) - UBS’s 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.

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