The resignation comes as the bank’s sale of auction-rate securities (ARS) in February is being investigated by
Cuomo is investigating claims that a number of unnamed UBS officials began selling their ARS personal holdings as the market began to fail while the bank was still marketing them as safe.
It is understood that Aufhauser will continue to work for the Swiss bank until the end of September in a consulting role before formally stepping aside.
Aufhauser was recently named alongside global head of compliance Neil Stocks and general counsel for the corporate centre Bernard Schmid in a three-man team to fill Peter Kurer’s group general counsel role temporarily.
Kurer was controversially named as the Swiss bank’s chairman in April and UBS has yet to announce a full time replacement, but was looking both internally and externally.
