UBS’s CFO gives evidence in Adoboli trial
Tom Naratil says $2.3 billion losses "did not jeopardise the existence of the bank"
UBS's group chief financial officer, Tom Naratil, gave evidence yesterday in the trial of accused rogue trader Kweku Adoboli.
Adoboli is charged with two counts of false accounting and two counts of fraud by abuse of position between October 2008 and September 2011. He denies the charges.
Naratil was questioned by defence barrister Charles Sherrard, who compared the losses incurred as a result of Adoboli's actions with the impact of the subprime mortgage crisis in 2007–8, when UBS suffered $50
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