Lombard Odier, the Geneva-based private bank, has hired Nannette Hechler-Fayd’herbe, a former research leader at Credit Suisse. She will be working for her former boss, Michael Strobaek, as the Head of Investment Strategy, Sustainability, and Research, as well as the Chief Investment Officer (CIO) for Europe, the Middle East, and Africa (EMEA) at Lombard Odier. […]
The Financial Accounting Standards Board (FASB) has recently adopted new accounting rules for Bitcoin, which will have a significant impact on corporate finance. These rules, effective from fiscal years beginning after December 15, 2024, introduce fair value accounting for Bitcoin, aligning its treatment with other financial assets.This move by the FASB represents a milestone in […]
The Swiss bank, UBS, is intensifying its efforts to reclaim millions of bonus payments that were made to senior executives at Credit Suisse before its collapse. UBS has contacted hundreds of bankers from the acquired Credit Suisse and offered them multi-year payout plans to recover a portion of the 1.2 billion Swiss francs in tied-up […]
Gemini Earn users may only receive 61% of their crypto investments, according to a reorganization plan from Genesis, a defunct crypto lender. The plan has caused outrage among users, with some calling it “brutal.” The complexity of the 374-page document has also been criticized, as many users may require assistance to understand it. The promised […]
Swiss asset manager GAM is expected to report another significant loss in 2023, as its new strategy will take time to take effect. Despite successfully fending off a takeover attempt by Liontrust and implementing a rescue plan with new major shareholder Newgame and French investor Xavier Niel, GAM is still facing financial challenges.The company anticipates […]
Gemini creditors are facing a challenging situation with a proposed reorganization plan that could result in them recovering only a fraction of their original investments in Bitcoin. The plan, if accepted, could see creditors receiving just 30% of the current market value of their Bitcoin holdings or 61% of the value from January 19, 2023. […]
In a recent setback for Yearn.finance, a scripting error has resulted in a loss of $1.4 million from its treasury. The error occurred during the conversion of Yearn’s yVault LP-yCurve tokens into stablecoins on the decentralized exchange CowSwap. Due to an oversight in handling treasury funds, the entire treasury balance, including fees, was inadvertently transferred […]
Gemini Earn creditors are expressing frustration over a proposed reorganization plan that could significantly reduce their expected Bitcoin payouts. The plan, outlined in an email sent by Gemini Trust on December 13, suggests that creditors will receive a payout equal to their Earn crypto balances as of January 19, 2023, the date when Genesis Global […]
The UBS has seen a significant increase in its stock price following its acquisition of Credit Suisse. This success can be attributed to the interest of financial investors in the concept of a “Wealth Management Powerhouse.” However, some investors who feel disadvantaged by the sale of Credit Suisse have filed class-action lawsuits in an attempt […]
The Swiss industrial company R&S Group has defied the challenging IPO environment by going public through a Spac transaction. The company, specializing in electrical engineering, experienced a strong start on the Swiss stock exchange, with its shares closing the day with a nearly 13% increase. This marks the first “real” IPO with capital raising on […]
