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...People with knowledge of the decision said the sale had been planned by Credit Suisse’s management team before its rescue by UBS this year....
...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...UBS has been hit with $400mn of real estate costs tied to its takeover of Credit Suisse, including breaking leases on offices occupied by its defunct rival....
...UBS also settled a lawsuit brought by Credit Suisse against a popular Zurich blog, Inside Paradeplatz, over what it claimed were unvetted and abusive reader comments under stories....
...The Credit Suisse logos outside the bank’s New York head office on Madison Avenue and in its lobby have been replaced with signs saying: Credit Suisse AG, a UBS Group company....
...This month UBS also said it would raise its dividend by 27 per cent to 70 cents a share in May and buy back up to $1bn of shares in 2024....
...People with knowledge of Cevian’s view of UBS said the investor had tracked the bank for about 15 years....
...And at least two claims have been brought by groups of Credit Suisse equity investors to Zurich’s commercial court, arguing that shareholders should be compensated by UBS for the bargain-basement deal it...
...According to the lawsuit, Zurich agreed to indemnify Greensill Bank in respect of certain losses from October 2018 to March 2021....
...The event — which took place at Zurich’s futuristic Circle conference centre — was hosted and organised by Iqbal Khan, UBS’s 48-year-old head of wealth management, to rally the troops after a tricky period...
...Late last year, activist investor Cevian Capital bought €1.2bn of UBS shares, making it one of the bank’s biggest shareholders....
...The pair also responded to criticism that the size of UBS within the Swiss market has harmed competition....
...Zurich, one of Europe’s biggest insurers, struck a deal to sell its German legacy life insurance back book — including annuity and endowment products — to Viridium in 2022....
...UBS declined to comment and de Ferrari did not respond by the time of publication....
...UBS has agreed to sell $8bn worth of loans to private capital group Apollo as part of a renegotiated deal to hive off a Credit Suisse business that securitised loans for assets such as yachts....
...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...
...UBS has settled a lawsuit brought by Credit Suisse against a popular Zurich finance blog over what the failed lender claimed were unvetted and abusive reader comments under stories....
...In total, UBS reported $4.7bn of integration and acquisition-related costs for 2023....
...The UBS chief was endorsing a package of reforms to Switzerland’s banking rules presented by a government-appointed panel of financial experts in September....
...Sheikh Hamad, also known as HBJ, is a long-term client of both UBS and Credit Suisse, which was rescued by its Zurich rival this year....
...Jefferies has named Philippe Drouin as its Emea head of consumer food and beverage. He was previously UBS chair of global consumer and retail....
...UBS has promised a return on tangible equity target of some 14 per cent by the end of 2026, well above its cost of equity....
...The gnomes of Zurich will be hoping that its multimillion-dollar facelift is a sign of the city’s return to good fortune after a year to forget....
...Credit Suisse unit, as well as UBS and regulators....
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