Who will redeem them? Credit Suisse buildings coveted by elected members of Parliament A motion demands that the Confederation, cantons and municipalities have priority in acquiring the real estate that will be sold following the merger of UBS and Credit Suisse. PostedMay 20, 2023, 12:18 p.m Parliamentarians are eyeing the bank’s buildings, which could be … Read more
updated16. May 2023, 16:38 Employees stand in line: “The rush is huge” – Credit Suisse distributes marketing articles to employees Credit Suisse is nearing its end and is giving away leftovers from the old days to its employees. These could possibly be resold at high prices. 1 / 4 Credit Suisse distributed articles from previous … Read more
Obviously, it was never said like that. But Sergio Ermotti – even though he was not present at the time – admitted it: the pure and simple integration of Credit Suisse was the base case scenario of UBS during the negotiations for the takeover of the bank. But it was because one was needed and … Read more
The Pallas Partners law firm filed a lawsuit in a Swiss court on April 18, claiming, among other things, that Finma had no right to order a total write-off of the AT1 bonds. The lawyers are therefore now seeking full compensation for their clients, which are 90 institutional investors and asset managers who held $1.35 … Read more
At the same time, the bank reported about 1 bln. first quarter net profit of US dollars. Analysts awaited the earnings release as the bank prepares for a forced alliance with Credit Suisse. Analysts polled by Swiss financial news paper AWP had expected UBS to report first-quarter net profit of around 1.7 billion euros. US … Read more
There are no longer the “decent hands of business people” sung by Gaber, but the very clumsy ones of those who have held the helm of Credit Suisse for years. Despite the efforts made by chairman Axel Lehmann and CEO Ulrich Koerner in the last two years, the previous reckless life, punctuated by assorted finance … Read more
Ubs will conclude the acquisition of Credit Suisse “probably in the second quarter of the year and this will strengthen the customer portfolio”, Ubs explains it in the presentation of the financial results of the first quarter.While acknowledging the scale and complexity of the Credit Suisse integration and restructuring, “we believe this combination presents a … Read more
Banking debacle » The National Council’s no to the two loans of 100 and 9 billion francs to save Credit Suisse should be interpreted as a yes. The Federal Council once again considered yesterday the results of the extraordinary session and the interpretation to be given to the refusal last Wednesday by the People’s Chamber … Read more
The US Federal Reserve Board of Governors on Friday approved the acquisition of Credit Suisse’s US subsidiaries by UBS Group, removing another major hurdle to completing the Swiss-brokered bailout. The board said in a statement that UBS committed to granting the US central bank the implementation plan for combining its activities and operations in the … Read more
Over time, the Credit Suisse debacle cost pension funds billions. But they managed to recover similar sums by investing elsewhere. There would therefore be nothing to worry about for pensions. The Provident Fund of the State of Geneva (CPEG), for example, was very little affected this year by the fall in its investments in Credit … Read more