Email Exchange Contradicts Libor Testimony From Former UBS Head

Alex Wilmot-Sitwell, former co-head of UBS AG and a current Bank of America Corp (NYSE:BAC) executive, testified that he didn’t recall UBS trader Tom Hayes and wasn’t sure if they had even been at the company at the same time, but British investigators have uncovered an email chain that shows Wilmot-Sitwell was involved in trying to retain Hayes, reports David Enrich for The Wall Street Journal’s MoneyBeat.

UBS Executive email

The email (reprinted below; WSJ opted to withhold some executives' names) calls all of Wilmot-Sitwell’s testimony into question because...