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...“Europe did everything they could have done [not] to allow banks to be bigger or successful,” Ermotti said in an interview with the head of Norway’s sovereign wealth fund, the Swiss bank’s second-biggest...
...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....
...The pair also responded to criticism that the size of UBS within the Swiss market has harmed competition....
...Changing weather will cost us all more in years to come, according to Swiss Re....
...The original Credit Suisse deal with Apollo led to the alternative investment manager taking on one of the Swiss bank’s most profitable divisions, but one that required a lot of capital....
...In this case, Swiss authorities had a plan, and they executed it. Brutal, but swift, decisive, and with limited systemic risk....
...Swiss financial news outlet Tippinpoint was first to report his departure....
...UBS has set out plans for deeper cost cuts as the mammoth integration of rival Credit Suisse helped drive the Swiss bank to a second straight quarterly loss....
...Over two days this month, UBS drafted in Roger Federer, Bill Ackman and the head of Covid vaccine maker Moderna to give a series of motivational talks to the Swiss lender’s 250 most senior private bankers...
Bank is on right track but needs to squeeze more from US business
...Meanwhile, Finma — the Swiss financial regulator, which has come under intense scrutiny over its handling of Credit Suisse — began investigating Julius Baer’s relationship with Signa and its internal risk...
...Finma on Tuesday published an 84-page report into the failure of Credit Suisse, which sent shockwaves through the Swiss financial system....
...The Swiss lender also confirmed the departure of chief executive Philipp Rickenbacher, which was reported by the Financial Times and other media outlets on Wednesday....
The Swiss pharma group needs to settle investor jitters with its latest acquisition
...Rosen has been locked in negotiations with Cooper Union’s board to restructure the ground lease....
...The robust demand for Raiffeisen’s AT1 bonds underscored the strength of the AT1 market almost a year after investors’ faith had been shaken by the collapse of Swiss bank Credit Suisse....
...Shares in the Swiss bank have dropped 15 per cent since it first revealed its exposure in November, when it said it would review its private debt business....
...Holcim AG, the Switzerland-based building materials group, thinks so. Its portfolio includes aggregates, cement, concrete and increasingly roofing products....
...An initial offer of liquidity from the Swiss National Bank finished with a shotgun marriage to UBS in late March....
...Shares dropped another 2 per cent when the market opened on Monday after the Swiss lender said the provision stemmed from its single largest exposure in its private debt loan book, which amounted to SFr606mn...
...Christoph Aeschlimann, chief executive of Swisscom, said the company would be “strengthened as a whole, allowing us to continue making significant investments in the Swiss and Italian market”....
...The long-running problems at Credit Suisse came to a head in March, when a collapse in the bank’s share price and exodus of client assets prompted Swiss authorities to call on UBS to rescue its neighbour...
...UBS has posted its first quarterly loss in almost six years as the Swiss lender laid bare the costs of integrating Credit Suisse following the state-orchestrated rescue of its rival....
...Anderson, a former executive at Swiss rival Roche, said he was seeking to “rebase expectations”....
...Chief executive Bill Anderson, who joined last year after heading the pharma unit of Swiss rival Roche, said the decision “was not taken lightly” and had “considered investor input.”...
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