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...These are based on investment treaties that Switzerland has with more than 120 countries that were designed to protect domestic investors from the risk of governments expropriating assets through nationalisation...
...UBS’s takeover of Credit Suisse, which controversially involved $17bn of bonds being wiped out, has created the biggest global wealth manager and a dominant player in Swiss and European banking....
...Cevian is now a top-10 investor in the Swiss bank. “This is the biggest opportunity in global financials,” Lars Förberg, Cevian’s co-founder, told the Financial Times....
...But he failed to convince the Swiss asset manager’s shareholders, who rejected the bid on the grounds that it undervalued the business....
...US investment firm Harris Associates, which has more than $100bn in assets under management, “sold the stock last year as [we] lacked confidence that management could repair the business”, David Herro, the...
...These types of asset-backed debts have become hotly coveted in the private capital industry as large managers such as Brookfield, Apollo Global and KKR manage insurance-based investment assets, generating...
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...“UBS continues to be seen and valued like a conventional European bank, despite being the largest global wealth manager and deriving around 60 per cent of its revenues from wealth and asset management,”...
...US plans for shutting down a global bank call for removing top management, wiping out the shareholders and imposing losses on creditors of its holding company....
...Swiss financial news outlet Tippinpoint was first to report his departure....
...The bank reported $77bn of new assets and another $77bn of new deposits across wealth management and personal banking businesses last year....
...Enter the UK asset management sector, likely to provide a flicker of optimism this week with interest rates no longer rising and restructuring efforts moving apace....
...JPMorgan derives a smaller proportion of group income from wealth (and asset) management — under 15 per cent — yet has more US wealth assets under management than UBS, points out Cevian....
...management controls....
...Global reinsurers have little exposure to lower intensity storms. But these severe convective storms (or SCS) are bad news for buyers of home insurance....
...Bäte was talking about its asset management business in general, so maybe Allianz Global Investors — its other asset manager arm* — accounts for some of this....
...“Diversification absolutely matters,” agrees Mark Haefele, chief investment officer of UBS Global Wealth Management. “You need to diversify geographically and across asset classes.”...
...Those purchases coincided with surging asset values. In 2017, the SNB made SFr54bn ($61bn) in profits from its foreign investment portfolio....
...Exclusive: Brookfield Asset Management is in advanced talks to buy a majority stake in $22bn private credit manager Castlelake, a specialist lender to airlines, as the world’s second-largest alternative...
...Swiss agricultural chemicals company Syngenta has called off a $9bn Shanghai listing that would have been one of China’s largest initial public offerings in years, as the country’s stock markets struggle...
...The FSB recommended that companies hold sufficient cash and other liquid assets readily available to meet margin calls....
...Hidden risks As governments try to de-risk the global financial system, investors are forced to reassess their views of what have historically been considered “safe” assets, the FT writes....
...Finma on Tuesday published an 84-page report into the failure of Credit Suisse, which sent shockwaves through the Swiss financial system....
...Management....
...Five unmissable stories this week JPMorgan Asset Management and State Street Global Advisors are quitting Climate Action 100+, an investor group set up to prod companies over global warming, and BlackRock...
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