UBS Reviewing Role of Bankers Behind Swiss Client FX Losses (1)

UBS Group AG is reviewing the role of six relationship managers who sold complex currency derivatives to Swiss clients who didn’t fully understand the risk, according to people familiar with the matter.

Some of the bankers have already departed the bank, said one of the people, who like the others asked for anonymity to discuss the private information. The situation of the remaining advisers is still being assessed, the people said.

“We have completed a review of this matter and determined that a very small number of clients in a few locations in Switzerland experienced unexpected effects from the US ...