Wall Street CEOs Who Embarrassed Themselves

2 Chuck Prince

Chuck Price was once the CEO of Citigroup and during his spell in 3Q 2007, Citi lost $6.5 billion from asset and credit write downs. It also warned the firm that there could be up to $11 billion in write downs additionally. The investors wanted a management change at the bank, compelling Prince to resign. Thus in November 2007, he resigned the job.

3 Stan O’Neal

In October 2007 Stan O’Neal bid bye to Merrill Lynch. After 3Q 2007, the bank revealed a loss of $8 billion from subprime mortgages and about $15 billion of questionable collateralized debt obligations. O’Neal left the CEO chair about a week after his firm announced its loss and debts.

4 Peter Wuffli

Peter Wuffli left UBS in 2007 because of the major losses at one of UBS’ hedge fund. These losses ultimately led to poor earning in comparison to other banks. Eventually the bank got closed down and he had already made up his mind to go away from the bank before it closed down. Though, his resignation became a total surprise for the business and banking world.