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...Ermotti has re-emerged as a leading spokesman for European banks since returning to UBS in the wake of its rescue of former rival Credit Suisse in the most significant merger in the sector since the financial...
...UBS began removing Credit Suisse’s brand in New York in August, replacing signs at the collapsed bank’s US headquarters....
...2007, according to figures compiled by UBS....
...UBS has sold the Credit Suisse corporate jet that the collapsed bank’s then-chair, António Horta-Osório, used when breaching Covid lockdown rules to attend high-profile sporting events....
...People with knowledge of Cevian’s view of UBS said the investor had tracked the bank for about 15 years....
...During his speech at the bank’s AGM, UBS chief executive Sergio Ermotti said he agreed with Kelleher’s view on capital needs and said it was a “source of great concern” that the bank was perceived to enjoy...
...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....
...Late last year, activist investor Cevian Capital bought €1.2bn of UBS shares, making it one of the bank’s biggest shareholders....
...Szarkowski built the collection from 1991 for PaineWebber bank, which was later acquired by UBS....
...The former head of Credit Suisse’s wealth management business, Francesco de Ferrari, has become the latest executive of the fallen bank to leave UBS....
...UBS said the new arrangement with Apollo — which included the transfer of $8bn of senior secured financing facilities — would result in a $300mn net gain for the bank....
...Credit Suisse, long hobbled by a cartoonishly long list of scandals ranging from C-suite spying to Bulgarian cocaine smuggling rings, was frogmarched into a shotgun wedding with its arch rival UBS over a...
...The activist bought €1.2bn of UBS stock last year in anticipation of the bank’s valuation doubling....
...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....
...Some European banks, such as Barclays and Deutsche Bank, may have lacked ambition on their ROTE targets. Both have proffered vague “above 10 per cent” goals for the coming years....
...Kelleher, a veteran of Morgan Stanley, will be watching if UBS can compete with his former bank and the industry leader in wealth management....
...Many of the proposals had been preemptively suggested by UBS, by far Switzerland’s biggest bank, but the lender has argued it should not be subjected to tougher capital requirements....
...the size of the new UBS!...
...But the bank has lured some of them back, while winning new customers and more business from existing ones....
...In a rare show of support from a senior banker for tougher regulations, the head of UBS — which rescued its former rival in March in the most significant bank takeover since the financial crisis — said Switzerland...
...The cost of integrating its rival drove UBS to a net loss of $785mn in the third quarter, the bank said on Tuesday, larger than the $444mn expected by analysts as the bank shouldered $2.2bn of expenses tied...
...UBS owns a 51 per cent stake. UBS, Citadel and Ant declined to comment. The China Securities Regulatory Commission did not immediately respond to requests for comment....
...Ermotti returned to UBS this spring, just days after the bank agreed to rescue its former rival Credit Suisse....
...Job moves Bank of America has hired Olof Engelbrekts as head of investment banking in Switzerland. He previously worked for UBS....
...They did, in a way, in the Credit Suisse instance: for all the controversy, $17bn of funds was recovered from the bank’s implosion that in turn helped facilitate the rescue deal with UBS and mitigated taxpayer...
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