UBS flags $17 billion hit from Credit Suisse takeover
UBS Group AG anticipates financial blow The Credit Suisse Group acquisition will bring about $17 billion in profit, the bank said in a regulatory presentation as it prepared to complete a bailout of its distressed Swiss rival. . UBS estimates the negative impact of fair value adjustments on the combined Group’s assets and liabilities to […]
Credit Suisse execs address UBS takeover
Ryan Payne, President of Pain Capital Management, and Adam Johnson, Portfolio Manager of Bullseye American Ingenuity Fund, discuss the outlook for recession, the return of Sergio Ermotti as CEO of UBS, and markets. Credit Suisse chairman Axel Lehmann and chief executive Ulrich Korner on Tuesday addressed the Swiss-based bank’s imminent bankruptcy and a planned takeover […]
Credit Suisse, UBS shares drop after Swiss probe into merger
Shares of Credit Suisse and UBS fell Monday after Swiss federal prosecutors launched an investigation into an emergency merger of the two banks. The attorney general’s office said on Sunday that prosecutors launched an investigation into last month’s takeover of state-owned Credit Suisse by UBS Group AG, investigating possible violations of the country’s criminal law […]
UBS brings back ex-CEO Sergio Ermotti after Credit Suisse deal
UBS has said it will return former CEO Sergio Ermotti to the Swiss banking giant after it bought embattled rival Credit Suisse for $3.2 billion. Ermotti, 62, who takes office on April 5, will remain with the bank in an advisory role to support the transition period, succeeding outgoing CEO Ralph Hammers. Ermotti, who served […]
UBS brings back past CEO with Credit Suisse deal ahead
Former Federal Reserve Board member Robert Heller, Solus Alternative Asset Management strategist Dan Greenhouse and Zai Capital Markets CIO Naeem Aslam discuss the Fed’s rate hike trajectory as Credit Suisse volatility threatens global markets Discuss. UBS has decided to bring back former CEO Sergio Ermotti to lead the Swiss bank as it pursues its acquisition […]
UBS reaches agreement to buy Credit Suisse after upping offer
Former Federal Reserve Board member Robert Heller, Solus Alternative Asset Management strategist Dan Greenhouse and Thee Capital Markets CIO Naeem Aslam discuss the Fed’s rate hike trajectory as Credit Suisse volatility threatens global markets Discuss. UBS is Acquisition of Credit Suisse Even after Credit Suisse received a $54 billion financial lifeline from the Swiss National […]
Credit Suisse gold bars, vintage swag for sale after UBS merger deal
Souvenirs bearing the name and logo of lender Credit Suisse went up for sale in Switzerland, signaling the end of an era, within hours of the announcement of the takeover by the state-backed UBS Group. Dozens of gold bars stamped with the name of the 167-year-old issuer, Credit Suisse, have been uploaded to Ricardo.ch and […]
Credit Suisse bondholders blast ‘insane’ UBS takeover
Investors who bought $17 billion worth of Credit Suisse bonds were outraged after Swiss regulators approved a $3.2 billion bailout by rival UBS. Holders of so-called “AT1” or additional Tier 1 bonds purchased through Credit Suisse were shocked to find that their investments were wiped out in the deal. “In my eyes, this is against […]
UBS Buys Credit Suisse For $2 Billion
Swiss banking giant UBS has agreed to bail out Credit Suisse in an emergency government-backed takeover. report from financial times He said the acquisition was worth more than $2 billion. The move comes in a desperate effort to prevent a possible collapse of Credit Suisse and avoid further global market uncertainty, Swiss officials said on […]
UBS agrees to buy troubled Credit Suisse for more than $2B to ‘secure financial stability’
Switzerland’s largest bank, UBS, has agreed to buy rival Credit Suisse for more than $2 billion in an emergency deal to avoid disruptions caused by the current banking crisis. The Swiss National Bank announced the deal on Sunday, saying it would “ensure financial stability and protect the Swiss economy” following the global market panic after […]
