UBS and Credit Suisse both have iconic headquarters in London. But whether the new combined bank can still afford the luxury of two expensive locations in the British capital is in doubt.
UOB saw profits climb in the second quarter of 2023 from higher interest income, due to a significant improvement in margins.
In the US, the wealth management division of UBS allegedly failed to pay overtime to its employees in California due to a «systemic» problem.
A London appellate court has breathed new life into a foreign exchange manipulation compensation case. Along with other major banks, UBS is once again in the spotlight.
The majority of countries in the world are exploring the issuance of their own central bank digital currency. Less than half of financial professionals believe such electronic fiat should be launched, according to a CFA survey.
Zurich-based EFG recorded lower profits from its private banking business in Asia during the first half of 2023, with stable revenues but higher costs.
EFG International reported record first half profit growth of nearly 50 percent as it hired more private bankers with sizeable portfolios. More new money flowed into the Swiss lender as well.
Beijing has appointed a new governor at the People’s Bank of China amid ongoing economic and market pressures in the country.
After a disappointing first half in 2023, China’s stock market has been rangebound as investors look for signals about the country’s slowing growth. Private banks are divided about the potential for a rebound in the near term.
Tom Naratil, a top UBS executive for decades, is forging a new path. He's moving to a private equity firm.
Archegos is the Greensill case reloaded. Finma delivers a scathing verdict on Credit Suisse's misdeeds for which UBS has to shoulder the consequences. But it gets off comparatively lightly.
Business with the super-rich is extremely lucrative for asset managers. But how fast this segment is growing is often underestimated, as a top US manager at UBS points out.
Amid a broader dealmaking slump, Beijing has reportedly asked law firms to refrain from using negative descriptions about China-related risks in offshore listing documents.
Few topics are currently occupying the Swiss financial industry as the impending wave of layoffs at UBS. According to media reports, a brutal savings program is imminent. What is behind it?
Growth at HSBC’s India private banking business is accelerating with invested assets tripling in 2022, according to senior executive Nuno Matos.
With regards to the Archegos debacle, it is clear how downright negligent Credit Suisse's top management was until recently. The shortcomings are serious and Finma has ordered far-reaching measures that apply to both the bank and its legal successor, UBS.
Julius Baer CEO Philipp Rickenbacher expects that in the future, half of all new relationship managers will be trained through internal programs. This doesn't prevent him from attracting more outside talent because the bank offers «attractive conditions».
In the event of the nationalization of Credit Suisse, the Swiss government wanted to put Sergio Ermotti at the head of the board of directors.
Profitability at Singapore’s «Big 3» banks is unlikely to be affected by the easing of the deposit cap for the city-state’s digital banks, according to Fitch.
Zurich-based US insurer Chubb has announced a promotion to the position of head of property for Asia.
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