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...Finma has argued that without writing down the AT1s, nationalising Credit Suisse would have been the only alternative....
...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...The Spac was helmed by Adam Gishen, Thiam’s top lieutenant at Credit Suisse, who served as chief executive....
...UBS executives have pushed through the sale after criticising Credit Suisse’s high risk-taking and high-reward culture....
...Credit Suisse was one of the first major tenants of the Canary Wharf estate. The Docklands financial district was the brainchild of Michael von Clemm, chair of Credit Suisse First Boston....
...Barry Callebaut has refinanced its debts and expanded revolving credit facilities in case further resources are needed....
...Less than a year after UBS’s rescue of Credit Suisse, just a handful of Credit Suisse senior managers remain at the enlarged Swiss bank, including former chief executive Ulrich Körner....
...Ermotti’s award comes as the bank’s bonus pool shrank 14 per cent compared with the combined pool at UBS and Credit Suisse in 2022....
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...The finer points of the credit default swaps market were somewhat lost on the social media audience....
...The capital return programme was paused when it acquired Credit Suisse. UBS slipped 3 per cent on Tuesday, but has risen almost 50 per cent since the rescue of Credit Suisse....
...A post mortem by the Financial Stability Board found Swiss authorities would have been capable of shutting down Credit Suisse....
...UBS put the business up for sale after taking control of Credit Suisse when it collapsed last year. It already has a securities unit in mainland China and cannot hold two licences....
...Swiss banking rules have come into sharp focus since the collapse of Credit Suisse last March and its rescue by UBS....
...The Swiss bank announced a new share repurchase programme on Tuesday, having suspended its previous plan a year ago following its rescue of former rival Credit Suisse....
...Instead, the regulator in its report referenced anonymised companies “[Company A] Bank AG” and “[Company A] Capital (UK) Limited”....
...This scepticism proved warranted in the past year when Credit Suisse was forcibly absorbed by local rival UBS and US regional banks plunged into freefall....
Plus, Raiffeisen Bank touts Russian growth in job ads and an investment banking boost in the US
...The grand Zurich hotel — which dates back to 1838 and sits proudly on Paradeplatz — came into UBS’s possession when it took over Credit Suisse....
...UBS put the unit, which includes investment banking and brokerage services, up for sale after taking control of Credit Suisse when it collapsed last year....
...One of the main areas where tech companies are active is the development of digital tools to issue carbon credits to farmers....
...He joins from Paul Hastings, where he had headed its alternative lender and private credit group....
...The Credit Suisse takeover has cemented UBS’s position as the biggest wealth manager outside North America....
...Thyssenkrupp is also struggling to decarbonise its steel production as the cost of carbon credits that the industry needs to buy to offset emissions is set to rise further....
...The calls echo those made last month by Sergio Ermotti, chief executive of UBS, which agreed to rescue Credit Suisse in March....
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