US subprime lending has already accounted for 3 high-profile victims this year - Citi CEO Chuck Prince, Merrill Lynch boss Stan O'Neal and UBS CEO Peter Wuffli. And Here Is The City wondered who is likely to be next.
There are three men currently in the firing line:
Jim Cayne - Chairman and CEO, Bear Stearns.
A terrible year was culminated by a fourth-quarter loss of $854m (the first quarterly-loss in Bear's proud 84-year history). Cayne, 74, is under pressure to at least give up his CEO role.
John Mack - Chairman and CEO, Morgan Stanley
A fourth-quarter loss of $3.56bn after $9.4bn in asset write-downs has put Mack, 63, in the frame for the boot.
Marcel Ospel - Chairman, UBS
With write-downs of some $13.7bn this year, UBS may post a full-year loss for 2007. And investors are pressing for more clarity about current subprime lending-related exposure. Ospel, 57, looks far from secure.
So, we asked our readers whether these guys should stay or go.
Here are the results:
Jim Cayne - 80.7% said he should go, 19.3% said he should stay.
Marcel Ospel - 75.9% said he should go, 24.1% said he should stay.
John Mack - 43.8% said he should go, 56.2% said he should stay.
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