The Swiss digital exchange SIX Digital Exchange has tokenized private shares of Aktionariat AG on its regulated blockchain-based central depository. According to a statement released on Tuesday, the Bern Cantonal Bank (BEKB) acted as the issuer agent for Aktionariat and also served as the custodian.This transaction demonstrates that shares issued as register value rights on […]
Julius Bär, a Swiss private bank, is experiencing a decline in its stock value, which is causing concern among investors. The bank’s involvement in risky loans, particularly a CHF 606 million loan to a European conglomerate, has raised eyebrows. Experts believe that the stock’s continuous decline reflects the shock investors felt when they learned that […]
A German insurance group, Signal Iduna, is reported to have almost 1 billion euros in outstanding loans to the troubled Signa Group, an investment firm owned by René Benko. Other insurers, including Ergo, R+V, Allianz, and Volkswohl-Bund, have also provided significant loans to Signa, totaling hundreds of millions of euros. Despite the financial difficulties faced […]
A major shakeup occurred at Signa Financial Services as their operational chief was removed from his position amidst allegations of serious misconduct. This small but influential firm, consisting of a handful of financial experts and trusted associates of René Benko, is located in Zurich, Switzerland, just a stone’s throw away from Paradeplatz.Signa Financial Services, a […]
Fisch Asset Management, a Zurich-based wealth management firm, has appointed Ivan Nikolov as the second leader of its convertible bond team. Starting in early 2024, Nikolov will co-lead the team alongside Thomas Fischli Rutz. The team consists of five portfolio managers and manages a total of five strategies across the entire spectrum of convertible bonds […]
Experienced private bankers at Credit Suisse in Switzerland are still leaving for rival banks, despite UBS’s introduction of retention bonuses averaging CHF 100,000. The integration of the two banks last August provided clarity for Credit Suisse employees, but it hasn’t been enough to prevent front-line staff from seeking opportunities elsewhere. Recently, a team of three […]
Binance, the world’s largest cryptocurrency exchange, has announced that it will no longer support trading pairs involving the Russian Ruble (RUB) on its platform starting from January 31, 2024. This decision is part of Binance’s strategy to exit the Russian market after selling its local division to CommEX.Earlier this year, Binance faced scrutiny from the […]
Conio, a digital asset wallet owned by Italy’s postal service and Banca Generali, has partnered with Coinbase to bring a wide range of crypto services to the Italian banking space. With over 400,000 customers, Conio will collaborate with Coinbase Prime to offer liquidity to institutional players and support more than 50 tokens.The partnership aims to […]
Julius Bär, a supposedly conservative private bank, is reportedly facing a potential disclosure regarding its expected profits. The bank’s profits are expected to be lower than anticipated due to a 600 million credit for René Benko’s Signa Group. It is speculated that the bank may have incurred losses from other private debt clients as well.The […]
Swiss asset management boutique Arvy has received approval from the Swiss Financial Market Supervisory Authority (FINMA) to operate as a wealth manager. The founding team, who previously worked for a multi-family office, announced the news in an email. Arvy has also launched its flagship financial product, the Equity Strategy Fund. The company’s founders, Florian Jauch, […]
