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...UBS agreed to rescue Credit Suisse last March in a deal orchestrated by Switzerland’s finance ministry, financial regulator and central bank....
...The Docklands financial district was the brainchild of Michael von Clemm, chair of Credit Suisse First Boston....
...“This is the biggest opportunity in global financials,” Lars Förberg, Cevian’s co-founder, told the Financial Times....
...The deal under discussion would see Brookfield invest more than $1.5bn to buy a majority interest in Castlelake and make a large investment in its funds, three people briefed on the matter told the Financial...
...The pair also responded to criticism that the size of UBS within the Swiss market has harmed competition....
...Cevian Capital partner Gustav Moss told the Financial Times....
...Swiss financial news outlet Tippinpoint was first to report his departure....
...The deal also included an agreement where Atlas would provide investment management services to some of the assets Credit Suisse retained....
...However, the probe concluded Coutts had “deficiencies” in its communication processes surrounding the closure of accounts, which potentially breached the financial watchdog’s obligation to treat customers...
...and UBS, according to people familiar with the matter....
...“The shares’ current valuation offers significant upside, should UBS be able to reach its long-term financial targets.”...
...The former trader was sentenced to 14 years in prison, the toughest sentenced handed down in the UK for financial fraud, later reduced on appeal to 11 years, of which he served about half....
...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 profit margin of the service sector (which accounts for 20% of revenue) has, in the opinion of our analyst, peaked at 70% as Apple needs to find incremental services with large TAMs, with much of the...
...There is hope that UBS will be able to replicate Morgan Stanley’s success maximising revenues it makes from financial advisers, lending more to customers and targeting ultra-rich clients....
...Sweden-based Activist Cevian Capital, which has built a €1.2bn exposure, believes UBS may be able to do better. Apparently, UBS lacks ambition on its profitability targets....
...The construction industry had the widest gap at 32 per cent, followed by financial and insurance services at 26 per cent....
...China’s “national team” of major state-backed financial services companies has ploughed Rmb410bn ($57bn) into local equities exchange traded funds so far this year, according to UBS estimates....
...Of course, there is customer service and access. But even those face tests....
...The continued popularity of income-generating ETFs, active fixed income ETFs amid interest-rate uncertainty and financial adviser interest in core strategies from firms such as Capital Group and JPMorgan...
...Mark Mason, chief financial officer, told reporters that 7,000 employees had been given notice that their jobs had been eliminated since the reorganisation began, 2,000 more than the bank had previously...
...Switzerland’s decision last year to merge Credit Suisse with UBS was an “unhelpful” way to deal with a failing global bank and US regulators would not shrink from a full shutdown in a similar situation,...
...“In anticipation of evolving regulation we renamed two US sustainable money market funds,” UBS said. Morgan Stanley did not respond to a request for comment....
...The wealthy continued to spend despite inflation being higher for goods and services that are largely bought or used by the rich compared with broader consumer prices....
...ETFs accounted for 51 per cent of underlying assets at the end of last year, up from 46.7 per cent in early 2022, according to data from Broadridge Financial Solutions, a financial technology company, which...
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