UBS Puerto Rico Chairman Miguel Ferrer to Leave Firm Next Month

Jun 26, 2014 5:03 pm ET

June 26 (Bloomberg) -- UBS AG, the Swiss bank facing client complaints over Puerto Rican bond funds, said its local chairman is leaving the company next month.

Miguel Ferrer will no longer be with the Zurich-based firm as of July 31, according to an internal memo provided by Gregg Rosenberg, a UBS spokesman. Ferrer’s position is being eliminated in a restructuring, according to the memo.