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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....
...A month later, UBS informed staff in Credit Suisse’s London office at One Cabot Square that employees would begin to move into UBS’s main office near Liverpool Street and that all transfers would be completed...
...“The notion that large companies can’t be changed is not right. There are many levers you can pull . . . we believe that UBS can become significantly more profitable over time.”...
...People close to the company said Credit Suisse holds the title to the aircraft through its aviation leasing division as security against financing provided to a client....
...standalone origination platform,” said the companies in a statement....
...In a statement on Thursday, the UBS board said the pay award was in recognition of Ermotti’s “excellent performance in a defining year in UBS’s history and strong progress in delivering on integration priorities...
...At the time, Credit Suisse said a change to the contract would lead to a $600mn loss for the bank. But on Wednesday, UBS confirmed it would be a $900mn loss....
...The average trust was trading at a discount to NAV of almost 17 per cent in October....
...Meanwhile, activist investor Ackman, a 20-year client of the bank, invited Federer to a tennis match on the roof of his company, Pershing Square, before telling UBS staff that the takeover of Credit Suisse...
...The acquisition of Sticks’n’Sushi marks the end of a 10-year ownership by Danish asset manager Maj Invest, which oversaw the growth of the company from a family business to an international brand....
...That lower ROTE may be due to less income productivity and lower leverage relative to peers, thinks Jason Napier at UBS....
...The 54-year-old — who rejected a job at Goldman Sachs at the age of 20 to work with Mother Teresa in India — left UBS at the end of the year and is serving a period of gardening leave, according to people...
...investors’ appetite for the high-growth companies the trust made its name backing....
...Companies....
...Nonetheless, shouldn’t investors be more careful before putting in $35bn of orders for a new AT1 from a Swiss bank? First of all, you shouldn’t trust that number....
...UBS said it planned to raise assets in its crucial wealth management business to more than $5tn by 2028 and complete the legal merger of both holding companies by the end of June....
...She has spent the past year heading a sustainable finance division at UBS following its rescue of rival Swiss bank Credit Suisse....
...Morgan Stanley, UBS and Bank of America have some of the biggest gender pay gaps in Australia, according to a government survey, more than twice as high as the average of 19 per cent....
...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...
...Haiti is also asking itself whether it should trust the international community....
...Purchases totalled £948mn last year, down 28 per cent from 2022’s record high of £1.3bn, according to data from the Association of Investment Companies, a trust industry body....
...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....
...Tom Slater, the trust’s manager, said: “In a volatile period for growth investment, we own a portfolio of established companies achieving rapid expansion . . ....
...Nicknamed “Rainman” as he was deemed to be obsessed with numbers, Hayes was a star yen derivatives trader at UBS in Tokyo between 2006 and 2009 and claimed to have generated more than $280mn in profits for...
...UBS is a well-capitalised bank. Even so, it may have to offer high yields to entice investors....
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