UBS Replaces Old Jerk With New Jerker

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Photo: WSJ.com

Jerker Johansson, a 22-year veteran of Morgan Stanley and a close ally of former Morgan Stanley co-president Zoe Cruz, who was fired in December, was named the head of UBS's investment-banking operations this morning. He takes over from Huw Jenkins, who left in October after write-downs due to the subprime crisis, and CEO Marcel Rohner, who was serving as the interim head and who last month had the pleasure of announcing the largest-ever quarterly loss by a bank. Also, he is Swedish. Okay, let's face it: Dude will be based in London, so it's not like we care about him that much. We just wanted to say, Jerker. Jerker, Jerker, Jerker. Heh.

UBS Names Johansson Chief for Investments [WSJ]