Wall Street CEOs Who Embarrassed Themselves

9 Ken Lewis

Ken Lewis, who served as the CEO of the Bank of America, left his reputed position in October 2009. The reason behind his decision was the high end criticism he had to confront during his spell. He was highly criticized for the big losses the company had to face due to consumer loans and mortgages. The bank had to endure more loss because of its purchase of Countrywide for $4 billion and Merrill Lynch for $19 billion. Eventually Ken Lewis had to quit his CEO post.

10 Oswald Gruebel

Oswald Gruebel of UBS, headquartered in Zurich and Basel, Switzerland, lost over $2 billion dollars because of the unauthorized trades and was charged with playing a fraud in accounting. Later the investors of the bank started questioning UBS’ risk management and Gruebel got forced to take up the responsibility. Subsequently he resigned from his position in September 2011. September 2011.