Weber gains clearance to join UBS
Axel Weber, the former president of the Bundesbank, has been cleared to join UBS, a Swiss bank, after it named him as its next chairman.
The Bundesbank on Tuesday said Weber's move to UBS "complied with its ethics code". In a statement released on Tuesday, the European Central Bank's (ECB) Governing Council, which Weber was a member, also said his move to UBS was beyond the one year cooling-off period and was therefore "compatible with their code of conduct".
Weber stepped down as president of
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