The mediation process in Switzerland regarding the abusive dismissal of trade unionists has been put on hold. Federal Councillor Guy Parmelin has made the decision to suspend the process, stating that a mutually agreed solution is currently not feasible. The Federal Department of Economic Affairs, Education, and Research (WBF) released a statement on Monday, explaining […]
Swiss asset manager Ficas has expanded its team with the addition of former fund professional Harlan Carere, who is also knowledgeable about digital investments. Carere, who has three decades of experience in the finance industry, held several portfolio management positions focused on technology and growth stocks at international fund house Fidelity. He is also considered […]
Andrea Orcel, the CEO of Unicredit, has emerged as one of the most successful managers in the banking industry. Under his leadership, the bank’s stock price has surged by 178% since he took office in April 2021, with a staggering 75% increase just this year. Orcel’s ability to “calm” the “addicted investors” through generous stock […]
The UBS bank is reportedly planning to offload a portfolio of loans to Italian companies with low credit ratings. The move comes after the bank acquired Credit Suisse and inherited a number of weak credit positions. The UBS is said to be looking to exit revolving credit facilities for five borrowers with junk ratings. The […]
Sergio Ermotti, the CEO of UBS, is being hailed as the smartest manager in Switzerland. Despite his lackluster rhetoric, he wields immense power and is often referred to as the king of Paradeplatz, the financial district in Zurich. Tomorrow, he will be immortalized as he cuts the ribbon at the grand opening of the Mandarin […]
In the case of Benko, the leadership at Julius Bär seems to have adopted a “blame everyone” approach, ensuring that no one takes responsibility. One individual who fits into this narrative is Luigi Vignola, the Chief Markets Officer at the Zurich private bank. Over the summer, this highly paid executive indulged in a week-long sailing […]
A recent report by the Swiss Financial Market Supervisory Authority (FINMA) has revealed that Credit Suisse’s parent bank had lower capitalization than expected, which had negative consequences for the bank during the crisis. The report highlights that the regulations for large banks, particularly the “Too big to fail” requirements, allowed the parent bank to maintain […]
Singaporean fintech firm Alchemy Pay has announced a partnership with UK-based payment processor Worldpay. This collaboration will allow Alchemy Pay users to access Worldpay’s Visa and Mastercard payment rails for purchasing cryptocurrencies using their credit and debit cards.Alchemy Pay aims to facilitate seamless cryptocurrency transactions worldwide, and this partnership with Worldpay will enhance their ability […]
The United States Commodity Futures Trading Commission (CFTC) has granted Bitnomial, a digital asset derivative exchange, a clearinghouse license. This license adds to Bitnomial’s existing derivatives exchange and brokerage licenses, making it a regulated and vertically integrated market structure.The CFTC approved Bitnomial’s application after several delays, with a vote of four to one. Vertical integration, […]
In a significant development for those affected by the collapse of the FTX Group, an agreement has been reached between the debtors of FTX and its subsidiary, FTX Digital Markets. This agreement aims to simplify the bankruptcy process and improve the chances of recovery for customers. The agreement is subject to approval from the U.S. […]
