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...A potential merger between the domestic businesses of UBS and Credit Suisse has become a thorny issue ahead of Swiss national elections in October, with politicians warning about the potential for branch...
...UBS’s original plan to merge its domestic bank with Credit Suisse’s has caused alarm within Switzerland due to fears over branch closures and job cuts....
...He then moved to Australia, where he became chief executive of wealth manager AMP Capital....
...It became the go-to bank for the country’s growing middle class, before expanding in Europe and opening its first New York branch in 1940....
...figures on Thursday as it said it would press ahead with absorbing Credit Suisse’s domestic business despite local and political opposition to a deal that is expected to result in thousands of job cuts and branch...
...The tie-up between the rivals has sparked concern in Switzerland over the potential for large-scale job cuts and branch closures, as well as the risk that a much larger bank would pose to the country’s financial...
...The prospect of mass job cuts and branch closures has been a contentious issue ahead of national elections this autumn....
...other changes announced on Thursday, Andreea Grob was named head of a newly defined region covering Turkey, Israel, Greece and Africa, while Puneet Matta will lead India and Michael Marr will be head of Australia...
...The size of government support for the deal — which also includes a SFr100bn liquidity line — and the potential for job cuts and branch closures in Switzerland has led to criticism domestically....
...This PUK is only the fifth commission ever formed to investigate the Swiss executive branch (the last one was empanelled in 1995). That might take a year or more....
...“Our UBS ETFs had net inflows for the first quarter,” a UBS spokesperson said....
...The payout to shareholders is regrettable, though this may have been an attempt by the Swiss authorities to extend an olive branch to international equity holders, particularly from the Middle East, which...
...At UBS’s Hong Kong branch, a “small number of colleagues” did relocate to places including Singapore during the pandemic, says Lo....
...UBSO: 6; L: 7; I: 7; Total: 20The legal team at the bank advised on the sale of UBS and Mitsubishi’s joint venture, Mitsubishi Corp-UBS Realty, to global investment fund KKR for $2bn....
...UBS declined to comment....
...There needs to be a full spin-off of the Swiss branch....
...(Josephine Cumbo) Smart read PwC is under fire in Australia after using its knowledge of government tax plans to advise clients....
...Fed governor Chris Waller told a UBS conference in Australia on Monday that rates were going to “keep going up” and “stay high for a while”....
...“UBS burnt through billions in the financial crisis and got bailed out. This is not Credit Suisse today.”...
...It said UBS overcharged the state by A$175mn for the collar loan, while the PNG government believed UBS was acting as an adviser rather than a loan vendor....
...Fed governor Chris Waller told a UBS conference in Australia on Monday morning that rates were going to “keep going up” and “stay high for a while until we see this inflation get down closer to our target...
...Jake Sullivan, US national security adviser, said allies such as Japan, Australia, New Zealand and South Korea would join the agreement....
...Actor Johnny Depp tried to sneak his dogs into Australia on a private jet in 2015....
...The chief legal adviser to the PNG government-commissioned inquiry slammed the Swiss bank and its legal adviser Norton Rose Fulbright Australia on Monday for their lack of co-operation with the investigation...
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