SWITZERLAND - The Swiss tabloid 'Blick' has apologised to Jürg Maurer, head of investments at Rieter Pensionskasse, for the way it portrayed him in its coverage of the Swissfirst scandal.

Using the English phrase "Sorry Jürg Maurer" to fit it on the title page of the tabloid, the newspaper printed a three-column apology.

It stated there was "no reason to doubt Maurer's qualifications as a portfolio manager, to accuse him of questionable conduct or to call him the most insolent pension fund manager in Switzerland".

The paper also admitted it was wrong to claim Maurer personally profited from the Swissfirst affair.

Maurer was never indicted in the scandal surrounding alleged insider trading prior to the merger of the banks Swissfirst and Bellevue last year.