Page 2 - Ubs Group

UBS Group takes lead in $50 billion bond market left by Credit Suisse

The biggest winner in this market from the March demise of Credit Suisse - the leading arranger of Swiss franc bonds for most of the last 20 years

UBS names S Korea, India, others as 'slow' to nod Credit Suisse deal

The uncertainties in securing regulatory nods could also lead to winding down businesses and asset sales, when UBS faces "difficult jurisdictions or regulators", the bank said in the document

UBS Group AG to cut hundreds of wealth jobs in Asia as activity slows

UBS is battling muted client sentiment and activity levels in Asia-Pacific, where the regional business hub of Hong Kong has long been a booking center along with Singapore for China's ultra-wealthy

UBS smashes Q2 banking profit record on heels of Credit Suisse takeover

The $29 billion gain is a result of the accounting difference between the $3 billion price UBS paid for Credit Suisse and the value of the acquired lender's balance sheet

UBS Group seeks to hire several private bankers to serve India's rich

UBS, which exited the private-wealth market in India almost a decade ago, is among global firms from HSBC Holdings Plc to Julius Baer Group Ltd. taking increased bets there

UBS Group to cut two-thirds of Credit Suisse dealmakers in Asia-Pacific

That would cost about 200 jobs at its global banking division in Asia over the next couple of months, the people said, asking not to be identified because the matter is confidential

UBS fined nearly $400 mn over Credit Suisse's relationship with Archegos

Swiss banking giant UBS will pay nearly USD 400 million in fines to US, Swiss and UK banking authorities for the management failures of Credit Suisse, which UBS bought in June, related to how Credit Suisse handled its relationship with collapsed hedge fund Archegos Capital Management. Archegos failed in 2021, costing Wall Street banks billions of dollars in losses, and Credit Suisse took the brunt of the losses. The Swiss bank took more than USD 5 billion in losses from Archegos' failure, which over a period of two years, ultimately led to the fire sale of Credit Suisse to UBS in June. Credit Suisse management was found to give Archegos special treatment through its prime brokerage division, which caused the bank to take on undue risk when Archegos purchased a highly concentrated position in ViacomCBS. The firm's manager, Bill Hwang, is scheduled to face fraud charges for the collapse of Archegos in October. Credit Suisse failed to adequately manage the risk posed by Archegos despit

UBS Group AG is 'sole successor' to Credit Suisse's CDS, panel rules

Credit-default swaps tied to the debt of the two banks have been converging in recent months as investors bet on this outcome

UBS Wealth boss Iqbal Khan pushes 'net new money' mantra in Asia tour

In at least his third visit to Asia in four months, Khan this week hosted evening receptions for hundreds of Credit Suisse and UBS wealth staff at the Hong Kong Convention and Exhibition Centre

UBS preparing to cut over half of Credit Suisse's workforce after takeover

Bankers, traders and support staff in Credit Suisse's investment bank in London, New York, and in some parts of Asia are expected to bear the brunt of the cuts

UBS Group completes takeover of Credit Suisse to create bank titan

The Swiss bank announced the closing of the deal in an open letter in local and international newspapers on Monday. The takeover of Credit Suisse ends the lender's 167-year independent existence

UBS to wrap up Credit Suisse loss agreement of $9.92 bn with govt by June 7

Under the takeover of Credit Suisse, orchestrated by Swiss authorities, Bern agreed to shoulder up to 9 billion francs in losses after UBS agreed to cover the first 5 billion francs in losses

CCI gives nod to proposed merger of Credit Suisse Group with UBS Group

Fair-trade regulator Competition Commission of India (CCI) on Thursday cleared the proposed merger of Credit Suisse Group AG with UBS Group AG. Both Credit Suisse Group AG (Credit Suisse) and UBS Group AG (UBS) are multinational investment banks and financial services companies founded and based in Switzerland. The transaction entails UBS' proposed acquisition of Credit Suisse by way of an absorption merger with UBS being the surviving legal entity, according to CCI. Post transaction, all Credit Suisse's assets, liabilities, and contracts will be transferred to UBS in their entirety. The proposed transaction has been necessitated due to Credit Suisse's financial difficulties, CCI said. Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices in the marketplace.

Credit Suisse deal set to face historic parliamentary probe in its collapse

The oversight committees of both houses voted in favor of installing a parliamentary inquiry commission, or PUK, on the sale of Credit Suisse announced in March

Evercore hires media, telecom bankers from Credit Suisse amid takeover

The US advisory firm has recruited managing directors Giuseppe Monarchi, Laurence Hainault and Francesco Gurrieri, the people said

UBS weighs options for sale of Credit Suisse's Swiss unit, say reports

UBS is studying plans to sell the Swiss banking business of Credit Suisse in an initial public offering (IPO) after taking over its smaller rival, the people said, speaking on condition of anonymity

UBS looks to bring Tom Naratil back and mulls Swiss bank spin-off

UBS executives have repeatedly said that all options were still on the table concerning Credit Suisse's domestic business

UBS reaps $28 billion in new assets in Q1; Credit Suisse deal looms

Swiss banking giant UBS said Tuesday it took in USD 28 billion of net new money for its wealth management business in the first quarter, with USD 7 billion of that coming in the days after the announcement of its government-backed takeover of ailing rival Credit Suisse. The Zurich-based bank, which is set to become Switzerland's banking titan after the merger closes in coming months, said underlying pre-tax profit dropped 22 per cent to USD 2.35 billion in the quarter compared to a year ago, while underlying revenues fell 8 per cent. UBS said it had bought back USD 1.3 billion worth of its shares during the quarter, and reiterated that the share-buyback programme has been temporarily suspended ahead of the closing of the 3 billion Swiss franc (USD 3.4 billion) takeover of Credit Suisse announced on March 19. In the first quarter, we maintained positive momentum across the firm and attracted USD 28 billion of net new money in GWM (Global Wealth Management), of which USD 7 billion cam

Swiss prosecutors probe Credit Suisse ahead of its takeover by UBS

The Swiss attorney general's office says it has opened a probe into the events surrounding embattled bank Credit Suisse, which is to be taken over by rival UBS. Switzerland's government and financial regulators helped engineer the hastily arranged, USD 3.25 billion agreement that was aimed in part to help calm worries about the global financial system and will leave the country with a single huge global bank. The attorney general's office said Monday that it wanted to proactively fulfil its remit and its responsibility to contribute to a clean Swiss financial sector. It said that it has set up monitoring that would enable it to get involved immediately if any offences were committed that come under its auspices. The office said the probe falls short of a formal investigation and is not a criminal inquiry. The office was responding to an emailed request Monday for comment after the Financial Times reported about the probe over the weekend. The statement made no reference to ...

UBS likely to cut workforce by 20-30% after Credit Suisse takeover

That number of predicted layoffs dwarfs the 9,000 job cuts that Credit Suisse announced before its rescue by UBS last month