His father Heinz R. Wuffli was general director of Credit Suisse from 1967 to 1977, when he resigned as a consequence of the Chiasso affair.

[2] After the 1998 merger of SBC and UBS AG, Wufflii was appointed president of the Group Executive Board in 2001 and became CEO in 2003.

[5] On July 7, 2007 UBS declined to comment on Wuffli’s leaving, only confirming that his departure, a decision which was taken in a regular board meeting in Valencia, Spain,[6] was based on the review of the position.

Analysts and investors suspected the drop in profits, hedge fund losses and the underperformance of its shares to be the reason,[7][8] and as a possible indication of the bank’s shifting core business to wealth and investment management.

[9] In February 2009 it became known that multi-billion dollar write-downs had sparked the sudden 2007 departure of Peter Wuffli as CEO.