UBS, a leading Swiss bank, has achieved a record-breaking market share in its home country following the acquisition of its main competitor, Credit Suisse. This strategic move has resulted in UBS securing a significant 25% of the dealmaking fee pool in Switzerland last year, a feat that is unprecedented in the industry.UBS’s takeover of Credit […]
LGT Wealth Management has made a significant announcement, introducing 11 new partners to the firm. This development follows a year of successful growth for the company, which included the acquisition of abrdn Capital.The new partners are Alice Gerry, Andrew Archer, Daniel Fresnais, Esther Clark, Henry Wilson, Robert Hardy, Scott Prout, Caroline Tye, Laurence Gagen, Matthew […]
The situation in Inner Switzerland is teetering on the edge of a financial disaster of unprecedented scale. Major shareholder Spuhler appears unwilling to inject fresh capital, exacerbating the crisis.In Lucerne, the situation is coming to a head just before the carnival season. According to an insider, a deferral of bankruptcy or even worse is no […]
In a last-minute decision, the Swiss government and authorities opted to sell the crisis-stricken Credit Suisse (CS) rather than rehabilitate it. UBS President, Colm Kelleher, announced the sale of CS to its larger Swiss competitor on the memorable evening of March 19, 2023, stating that there were no longer any alternatives.However, just hours before, alternatives […]
Swiss banking software manufacturer Temenos and consulting firm Deloitte have announced a new partnership aimed at making inroads into US financial institutions. The collaboration is designed to assist these institutions in accelerating the modernization of their core banking and payment systems in the cloud.The partnership is part of a joint strategy to help financial institutions […]
A recent survey has revealed that nearly half of the employees at the combined UBS-Credit Suisse are apprehensive about their job security. The survey, conducted by eFinancialCareers at the end of 2023, found that 43.2 percent of UBS bankers are worried about losing their jobs. This level of job insecurity was only surpassed by employees […]
In a surprising turn of events, UBS is set to continue its job cuts at Credit Suisse in 2024, with a reported 35,000 people being cut from the combined workforces. By the third quarter of 2023, only 13,000 of these cuts had been made. The integration process, which is expected to continue until 2026, aims […]
LGT Private Banking has expanded its operations in Germany by opening an office in Frankfurt. This move increases LGT’s presence in the country, where it already has offices in Hamburg, Dusseldorf, and Cologne. The bank now serves high-net-worth (HNW) individuals, families, and entrepreneurs in four different regions of Germany.The Frankfurt office will be staffed by […]
Despite economic challenges and a scarcity of deals, UBS Group AG, the Swiss multinational investment bank, is steadfast in its goal to bolster its wealth and asset management operations in China. Eugene Qian, the China head of UBS, underscored the strategic importance of the Chinese market and announced the bank’s plan to further expand its […]
Despite recent business challenges, UBS is planning to expand its wealth management and fund business in China. The future of the onshore securities business remains uncertain.“China is a key strategic market and a place where we want to do more,” said Eugene Qian, UBS’s China Country Head, in an interview with Bloomberg TV. “In particular, […]
