Miskovic steps down as UBS risk chief

UBS chief risk officer leaves after September rogue-trading losses

Maureen Miskovic, chief risk officer (CRO) at UBS, is to leave the bank in the wake of its $2.3 billion rogue-trading loss in September. She will be replaced by her predecessor, Philip Lofts, who worked as CRO for two years before moving to become chief executive of UBS Group Americas in January. Robert McCann, chief executive of UBS Wealth Management Americas, will also take on Lofts' role as chief executive for the Americas.

Ulrich Korner, the bank's group chief operating officer, will keep

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