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 […]
The United Kingdom has introduced new regulations that allow the Financial Conduct Authority (FCA) and the Bank of England (BoE) to operate a sandbox for tokenized securities. The Digital Securities Sandbox (DSS) regulations, which will take effect on January 8, 2024, enable UK-based investment exchanges, investment firms, central securities depositories, and recognised central counterparties to […]
The Swiss Bankers Association (SBVg) has responded cautiously to the lessons learned from the Credit Suisse crisis, staying true to its previous stance that a thorough analysis is necessary before any potential regulatory changes are made. The analysis and self-assessment by the Swiss Financial Market Supervisory Authority (FINMA) regarding the downfall of Credit Suisse has […]
The Appellate Court of Montenegro has revoked the extradition approval for Do Kwon, the founder of Terraform Labs, following an appeal by his defense attorneys. The court cited procedural irregularities in the legal process as the basis for its decision, raising questions about the extradition requests from the United States and South Korea.Kwon’s detention has […]
The Swiss financial regulator, Finma, has attributed the downfall of Credit Suisse to its compensation systems. According to a report by Finma, the bank’s bonus system failed to prevent losses or encourage good behavior. The report also highlighted governance issues as a major factor in the bank’s collapse.Finma stated that it had utilized all available […]
