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...He also singled out Credit Suisse, which collapsed in March and was bought by UBS, as an example of operational risk management gone awry....
...Apollo originally entered into an agreement with Credit Suisse — which was rescued by UBS last year — to purchase its securitised products division in 2022, including a related investment management contract...
...“Diversification absolutely matters,” agrees Mark Haefele, chief investment officer of UBS Global Wealth Management. “You need to diversify geographically and across asset classes.”...
...In July 2021, the SEC fined UBS Financial Services, now owned by Credit Suisse, $8mn for holding short-term, volatility-linked ETPs for customers longer than designed....
...The issuers constitute a broad spectrum of the ETF industry, with large and diversified asset managers including BlackRock and Invesco offering products alongside smaller groups with a stronger focus on...
...He quit as chief executive of Apollo Global Management soon after they became public....
...If they can defend their profit margins, which diversified big businesses tend to be able to do, then their dollars of profit will go up....
...The third target is UBS itself....
...“They had good performance so could still show growth even though active management was struggling,” said Brennan Hawken, an analyst at UBS....
...He previously worked at UBS and Credit Suisse. Deutsche Bank has promoted William Mansfield to head of Emea mergers and acquisitions....
...The US companies now go head-to-head with big European players such as Amundi, DWS, an asset manager majority owned by Deutsche Bank, and UBS in their own backyard....
...About 20 senior Credit Suisse dealmakers in Europe are switching to UBS following its government-orchestrated takeover of its Swiss rival, per Financial News....
...Most CQS staff, including chief executive Soraya Chabarek, will stay on as the firm is folded into Manulife Investment Management, which has $746bn in assets under management....
...Millennium had grown into a much larger and more diversified organisation, and Englander was reluctant to identify just one person to lead the business....
...However, Robertson said “it looks like the FX market has now gained liquidity”, with some foreign investors now putting money into Nigeria as the exchange rate has become more realistic....
...For example, with UBS My Way, clients can fully customise their portfolios based on their preferences and priorities, but then the monitoring of the portfolio is done by an investment manager....
...another reminder of that overnight from Bloomberg News, which has gotten its mitts on some financials that the otherwise secretive Jane Street revealed as part of its borrowing programme: Jane Street Group LLC...
...The watchdog catalogued the “repeated scandals and management errors” in the fallen bank’s final few years....
...From a management perspective, reversing commitments opens up credibility questions.”...
...Private lenders including Ares Management, Oak Hill and Blue Owl stepped in to provide a $4.8bn senior private loan....
...Raine got its start in 2009, when, in the middle of the financial crisis, Sine and his co-founder Joe Ravitch ditched their respective employers UBS and Goldman to start their own business, crunching their...
...Anything the UBS management deems to be too risky and of little use to its wealth management business, including leverage finance and structured credit, will be wound down....
...And probably the greatest benefit of simpler products is that they are cheaper, in terms of management fees and the costs of buying and selling them....
...Job moves UBS has shaken up the leadership of its critical Middle East wealth management operations as it comes under pressure to keep staff happy following its takeover of Credit Suisse....
...A critical part of First Boston’s strategy was a close partnership with Credit Suisse’s wealth management and trading operations, which is unlikely to continue under UBS’s ownership, the people said....
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