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...He then returned to Europe, becoming chief executive of UK insurer Prudential and then Credit Suisse, which he ran from 2015 until he departed in 2020 following a corporate spying scandal....
...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...People close to the company said Credit Suisse holds the title to the aircraft through its aviation leasing division as security against financing provided to a client....
...The Swiss lender has taken a $200mn expense on the Credit Suisse leases for 2022 and another for 2023, according to a filing to US Securities and Exchange Commission published on Friday....
...McDonagh was originally hired by Credit Suisse to run Europe, the Middle East and Africa but she was promoted to chief operating officer before she arrived....
...Swiss behemoth: A year on from its rescue of Credit Suisse, has UBS been able to make a success of its wealth business and become Europe’s Morgan Stanley?...
...Ant’s bid for Credit Suisse Securities (China) Ltd, which includes investment banking and brokerage services in mainland China, could complicate UBS’s plans to dispose of its stake in the unit....
...Citadel Securities has made a bid of about Rmb2bn ($280mn) for Credit Suisse’s Chinese securities business, as the market maker founded by billionaire Ken Griffin pushes ahead with expansion plans in China...
...The deal allowed Credit Suisse to cut its holdings of such assets from $75bn to $20bn. Apollo rebranded the business as Atlas....
...UBS has made Sergio Ermotti Europe’s best-paid bank boss less than a year after he returned to the lender, saying the Swiss executive had successfully steered the integration of rival Credit Suisse....
...Citadel Securities has bid about Rmb2bn ($280mn) for Credit Suisse’s Chinese securities business, as the market maker founded by billionaire Ken Griffin pushes ahead with expansion plans in China, people...
...Abruptly, the pain spread to Europe....
...’s financial regulator Finma released its 84-page postmortem on Credit Suisse....
...But while the Credit Suisse deal has provided a shot in the arm for UBS’s wealth businesses in Europe, the Middle East and Asia — boosting assets by at least 50 per cent and contributing a decade’s worth...
...“He’s terrified about his security,” the person said....
...UK nonprime borrowing accounted for about 4 per cent of the consumer credit market in 2013....
...The apparent interpretation was a direct challenge to Ermotti’s frequent pleas that UBS’s capture of Credit Suisse last year should not be seen as the “deal of the century”....
...In December, Finma itself published an 84-page report into the failure of Credit Suisse....
...It stepped in to save its rival, Credit Suisse. The merger was called the deal of the century, and it made UBS the second-largest bank in Europe....
...Santander has agreed to hire the former co-head of Credit Suisse’s investment bank, David Miller, who becomes the latest executive to join from the collapsed Swiss lender....
...Plus, UBS needs to boost its wealth business to make its Credit Suisse acquisition a success....
...UBS may have to wait until it has finished integrating Credit Suisse, however, before it tackles more M&A....
...ICBC Credit Suisse Asset Management became the latest firm to announce on February 8 that it would reduce management and custodian fees for its ICBC Credit Suisse CSI 300 ETF with immediate effect, according...
...He added: “[Credit Suisse] had repeated risk management and operational failures which undermined the credibility of its leadership and the board....
...Greensill’s supply chain financing loans to Gupta-linked and other companies were packaged into securities sold to Credit Suisse investors through a group of $10bn supply chain finance funds....
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