Ex-UBS Banker Wonders What He’s Doing in $5.3 Billion ‘Mess’
- UBS is appealing record French penalty as is Patrick de Fayet
- Ex-UBS France banker says he’s proud of his time at unit
Patrick de Fayet arrives at the Paris Court of Appeals in Paris, on March 22.
Photographer: Nathan Laine/BloombergThis article is for subscribers only.
A former executive at UBS Group AG’s French unit says he’s still wondering what he’s being accused of a decade after the start of an investigation which led to a record 4.5 billion-euro ($5.3 billion) penalty for the Swiss bank.
Patrick de Fayet, formerly general manager at the French unit, said that it was “an extraordinary opportunity” for him to join UBS France in 2003 and he’s proud of having worked there.