Marcel Ospel, the Swiss banker dubbed “Herr der UBS,” or “Master of UBS,” by his biographer, had a story about what happens when the mighty fall. He built UBS Group AG into a global behemoth, and became one of the leading financial figures of his time, only to see the bank come close to collapse during the 2008 financial crisis. Scorned as a national failure, Ospel later bumped into a lawyer he knew. He got the cold shoulder. “When I was head of UBS,” Ospel ruefully recalled to the...

Banker allegedly stole in small increments to avoid detection Man accused in Geneva of criminal mismanagement and forgery A former wealth manager with HSBC Holdings Plc’s Swiss private bank in Geneva was accused of stealing about 3 million Swiss francs ($3.2 million) from his rich Turkish clients, drip-feeding money from their accounts over a period of two years. The alleged theft by the banker, who can’t be identified under Swiss law, went undetected for so long because he robbed no more...