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...Ermotti said the only reason UBS was allowed to take over its rival was because Credit Suisse was failing after years of loss making....
...Within weeks, a US regional banking crisis spurred a panic that ultimately contributed to Credit Suisse’s weekend takeover by UBS....
...So far, 13,000 jobs have already been cut from the combined group, though thousands more are expected to go in the coming years....
...Other long-term investment groups have also increased their holdings in UBS significantly this year....
...Swiss banking rules have come into sharp focus since the collapse of Credit Suisse last March and its rescue by UBS....
...Szarkowski built the collection from 1991 for PaineWebber bank, which was later acquired by UBS....
...Yet in the US wealth market, UBS is far behind industry leader Morgan Stanley and also trails Wall Street rivals Bank of America and JPMorgan....
...Late last year, activist investor Cevian Capital bought €1.2bn of UBS shares, making it one of the bank’s biggest shareholders....
...The lender has come under scrutiny within Switzerland following its rescue of Credit Suisse, especially over the size of the combined group’s balance sheet — roughly twice the country’s gross domestic product...
...UBS has agreed to sell $8bn worth of senior secured financing facilities to private capital group Apollo, as it winds down non-core businesses linked to its purchase of Credit Suisse last year....
...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....
...At the end of last year, activist investor Cevian Capital took a €1.2bn stake in the group, betting the bank could double its valuation in the next three to five years....
...JPMorgan derives a smaller proportion of group income from wealth (and asset) management — under 15 per cent — yet has more US wealth assets under management than UBS, points out Cevian....
...At UBS, women were paid 43 per cent less than men. At Morgan Stanley the gap was 48 per cent, and at Bank of America, 42 per cent....
...Thwaite, who previously led the group’s commercial bank, is set to lead the banking group until at least July....
...Over the long run, small-cap companies have outperformed larger ones, according to the UBS Global Investment Returns yearbook....
...the group’s wealth business....
...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 promised to buy back up to $2bn of shares, taking the total European lenders have pledged to return to investors this year to more than $130bn....
...“Normally when you have markets at all-time highs people start getting a little bit worried and bidding up the puts relative to calls,” said Rocky Fishman, a derivatives analyst at research group Asym 500...
...“Diversification absolutely matters,” agrees Mark Haefele, chief investment officer of UBS Global Wealth Management. “You need to diversify geographically and across asset classes.”...
...investigations of Horta-Osório’s frequent use of the bank’s corporate jets as well as at least two breaches of Covid travel restrictions — including on the London trip — led to his departure as chair of the group...
...UBS breaks it down: One takeaway from the chart above is that banks with less than $10bn in assets hold nearly 20 per cent of CRE loans....
...Speaking at an industry conference organised by UBS on Tuesday, Solomon said “the world is set up for a soft landing”, but there was a “higher level uncertainty” due to remaining inflationary pressure in...
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