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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....
...In October, UBS removed the large Credit Suisse logo from the top of One Cabot Square....
...UBS declined to comment....
...UBS executives have pushed through the sale after criticising Credit Suisse’s high risk-taking and high-reward culture....
...Late last year, activist investor Cevian Capital bought €1.2bn of UBS shares, making it one of the bank’s biggest shareholders....
...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....
...The pair also responded to criticism that the size of UBS within the Swiss market has harmed competition....
...A UBS insider described Khan’s task as a “three-year job interview”....
...UBS declined to comment and de Ferrari did not respond by the time of publication....
...But on Wednesday, UBS confirmed it would be a $900mn loss....
...NatWest has appointed former UBS executive Emma Crystal as chief executive of its private bank Coutts, following the exit of its former chief in the wake of the Nigel Farage “debanking” scandal....
...UBS said it planned to reinstate its dividend of $0.70 per share in May and buy back up to $1bn of shares in 2024, subject to shareholder approval....
...UBS said it expected the division to return to profit in the first quarter....
...UBS chief executive Sergio Ermotti said he was surprised by global regulators’ failure to prepare for the impact of rising interest rates on weak banks, as well as for the speed of withdrawals allowed by...
...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....
...She has spent the past year heading a sustainable finance division at UBS following its rescue of rival Swiss bank Credit Suisse....
...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....
...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....
...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....
...UBS chair Colm Kelleher is aiming to line up a shortlist of three potential successors for chief executive Sergio Ermotti within the next two years....
...UBS is marketing the five-year tranche at around 10 per cent yield and the 10-year at around 10.125 per cent....
...It’s likely that UBS will emerge as a stronger credit as a result, despite the split views from the rating agencies....
...Tom Hayes has failed in his attempt to overturn his conviction for rigging an interest rate benchmark as the Court of Appeal in London upheld the guilty verdict handed to the former UBS and Citigroup trader...
...UBS managed to bring in $22bn of net new money into its wealth management business....
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