UBS may have Credit Suisse under its wings, will its crowd follow?
With the successful completion of its acquisition of Credit Suisse, UBS now confronts the critical task of fulfilling its commitment to benefiting both shareholders and Swiss taxpayers in this government-led rescue operation. Marking the largest banking deal since the 2008 financial crisis, this merger has catapulted UBS into the position of an unparalleled global wealth […]
UBS seals Credit Suisse deal to be on the road of undeterred fame
UBS (UBSG.S) announced on Monday the successful completion of its emergency acquisition of troubled local competitor Credit Suisse (CSGN.S), resulting in the formation of a massive Swiss bank with a balance sheet worth $1.6 trillion. This landmark banking deal, the largest since the 2008 global financial crisis, is expected to present both challenges and numerous […]
Timeline until: Credit Suisse stumbled and UBS went to its aid
UBS Group (UBSG.S) has announced that the official completion of its takeover of Credit Suisse (CSGN.S) is expected to take place as early as June 12, facilitated by the Swiss authorities in an effort to prevent a broader banking crisis. The culmination of this merger signifies the end of an era for Credit Suisse, a […]
UBS changes the CFO, crowns Koerner from CS as head
Ulrich Koerner, the CEO of Credit Suisse, will remain on when the Swiss rival is acquired by UBS Group (UBSG.S), according to a statement released on Tuesday. He will join a new executive team for the combined company. In addition to announcing a change in leadership, UBS also announced the promotion of Todd Tuckner to organiser chief […]
Drastically declining Credit Suisse issues a warning about more risks
After alarmed clients withdrew billions from the bank, Credit Suisse Group (CSGN.S) recorded its largest yearly loss since the global financial crisis of 2008 and issued a caution that a further “significant” loss will occur this year.Having been hit by controversy after scandal, the bank experienced a dramatic increase in withdrawal in the fourth quarter, […]
Credit Suisse promotes CSFB; which results in increased sales
As the troubled lender looks to borrow money for the restructured firm, Credit Suisse Group AG (CSGN.S) is positioning its First Boston corporate finance arm to investors as a mega boutique and anticipates revenue soaring to as much as $3.5 billion, according to a company document.The marketing pitch, which has not previously been revealed, reveals […]
In a long-awaited trial, Roche’s Alzheimer’s medicine falls short of its objective
A high-stakes race to introduce a treatment for the memory-robbing disease has rivals Biogen (BIIB.O) and Eisai (4523.T) leading the pack after Roche’s (ROG.S) Alzheimer’s medication prototype failed to show potential in two drug studies for slowing dementia progression.In a statement released on Monday, Roche claimed that the twin research findings known as Graduate 1 […]
Credit Suisse takes the limelight despite efforts to allay worries
As a result of worries over the bank’s capacity to reorganise its business and increase its capital following a spate of losses, Credit Suisse shares fell as much as 11.5% on Monday and its bonds touched record lows.Although there haven’t been any significant recent developments and Credit Suisse’s current issues are well known, the Swiss […]
Sources: Credit Suisse alerts clients to a capital increase
According to two people with knowledge of the situation, Credit Suisse is approaching investors for more funding for the fourth time in about seven years as it tries to completely revamp its investment bank.The persons claimed the bank began talking to investors about the decision in recent weeks.They added that the investment bank is considering […]
After Q2 loss, Credit Suisse appoints its new CEO
Ulrich Koerner, an expert in asset management, has been selected as Credit Suisse’s next CEO, the latest indication of turmoil at the Swiss bank, which on Wednesday declared a strategy review as it battles to rebound from a string of scandals. The controversies and losses accumulated during the incumbent Chief Executive Thomas Gottstein’s two-year […]