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 […]
Chinese pension markets welcome JPMorgan, UBS and more
As the nation formally revealed a private pension system last week, Chinese subsidiaries of global asset managers JPMorgan (JPM.N), Warburg Pincus (WP.UL), and UBS (UBSG.S) are preparing to extend their retirement services.As it struggles with a steadily ageing population, China unveiled its first private pension programme on Friday in 36 cities, enabling people to create […]
UBS’s Weber center stage as Santander-Orcel court battle resumes
UBS Chairman Axel Weber is expected to take centre stage in a court battle that erupted after Spain’s Santander withdrew a multimillion-euro offer to the Swiss lender’s former top investment banker to be its CEO. Italian banker Andrea Orcel is suing Spain’s largest lender. This is after it dropped the job offer almost three years ago in […]
UBS verdict postponed in 4.5 BLN Euro French tax case
French judges postponed until Dec. 13. This is a ruling on UBS’s appeal against a landmark fine. And that too in a case in which the Swiss bank has contested allegations it helped wealthy clients stash undeclared assets offshore. Judges said that the decision had to be delayed. UBS said that it only took note of the […]
UBS ramps up Netflix of banking to tap into stream of millionaires
UBS’s new hybrid digital wealth management platform has attracted $3.7 billion in its first year. This boosts the chief executive Ralph Hamer’s strategy of winning more business from the lower echelons of the global rich. The world’s biggest wealth manager is trying to improve its digital services to reach customers outside its super rich core client […]