By John Revill ZURICH (Reuters) – Nearly a quarter of Swiss industrial companies are unhappy with the service from UBS, notably in lending, since its 2023 Credit Suisse takeover, a survey found, in a blow to the bank’s efforts to show it is not abusing its market dominance. UBS has been under close scrutiny since...
Tag: Credit Suisse
Post
Post
Foreign banks target Switzerland after UBS takeover of Credit Suisse
Zurich: As Credit Suisse fades into history following its takeover by UBS last year, global banks are expanding in Switzerland to take advantage of companies’ desire to spread their business. France’s BNP Paribas, Deutsche Bank and US lenders Citi and Bank of America are among those increasing staffing and courting smaller companies that form the...
Post
Swiss financial regulator closes UBS antitrust probe after Credit Suisse merger
Zurich: Switzerland‘s financial regulator, FINMA, on Wednesday said it would not further investigate UBS‘s market dominance after it rescued Credit Suisse last year. “The merger of UBS and Credit Suisse will not eliminate effective competition in any market segment,” FINMA said. The decision follows a report by the country’s competition authority, COMCO, which was sent...
Post
UBS, Credit Suisse’s Swiss units may merge by July 1, says official
2 min read Last Updated : Jun 11 2024 | 12:15 PM IST The merger of the Swiss units of UBS and Credit Suisse could be completed as early as July 1, a senior executive at UBS was quoted as saying on Tuesday. UBS, which acquired its former rival Credit Suisse last...
Post
UBS CEO says job cuts in Switzerland to start in late 2024 – ETHRWorld
Last August UBS said it would axe 3,000 jobs in Switzerland ZURICH: UBS’s CEO on Tuesday said the majority of job cuts in its home market, Switzerland, will start from around the end of the year and continue into 2025 and 2026. In a call with journalists, Sergio Ermotti said the cuts are not something...
Post
UBS layoffs: Next round of job cuts planned in Credit Suisse integration
UBS Group is planning another round of job cuts after its takeover of Credit Suisse that is expected to affect over a hundred positions across the group’s global investment bank, Bloomberg News reported on Wednesday. Signs of Swiss bank giant UBS bank are seen in Basel.(AFP) The layoffs are scheduled to take place in the...
Post
After Credit Suisse collapse Switzerland is now revamping its financial rulebook
Switzerland is accelerating efforts to reform its banking regulations a year after the collapse of Credit Suisse — and handing more power to those who will enforce them. The government is due to unveil long-awaited proposals for legislation in the coming days that are likely to touch on all of the main pillars of bank...
Post
85 Swiss branches of UBS and Credit Suisse to shut, report says
ZURICH, – UBS will close 85 branches in Switzerland of its combined operations with Credit Suisse by 2025 as part of its consolidation of its erstwhile rival, Swiss media reported on Friday. The Aargauer Zeitung said the closures would be where UBS and Credit Suisse branches stood in “immediate proximity”, and that a pilot phase...