UBS Bank

A Bloomberg index of contingent convertible bonds has risen 10 per cent from the lows seen during the Credit Suisse crisis

After years of scandal and losses, Credit Suisse came to the brink of collapse before UBS rode to the rescue with a merger engineered and bankrolled by the Swiss authorities

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

UBS said Wednesday that it's bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse. Ermotti, who was the bank's top executive for nine years and led a turnaround following the 2008 global financial crisis, will take over next Wednesday from CEO Ralph Hamers. Hamers took up the job in November 2020 and will remain at UBS during a transition period to ensure a successful closure of the transaction and a smooth handover, the bank said in a statement. UBS credited Ermotti, who is now chairman of insurer Swiss Re, for having cut its footprint and changing the culture of the bank and it pointed to his experience in bringing big financial institutions together. The hastily arranged, USD 3.25 billion deal for Credit Suisse aimed to stem the upheaval in the global financial system after the collapse of two US banks and jitters about long-running troubles at Credit Suisse led shares

Deutsche Bank shares fell for a third day, dropping more than 12 per cent after a sharp jump in the cost of insuring its bonds against the risk of default

UBS is buying the bonds at the price at which they were sold rather than at market prices, which compensates investors after the sell-off earlier this week

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Just as UBS is sorting through Credit Suisse's assets, properties and personnel, it's also taking on its former rival's carbon emissions

The SVB collapse has alerted hundreds of Indian investment and tech companies. They came together to help each other and share knowledge to deal with the impact

The wipeout of $17 billion worth of AT1 bonds in the UBS-Credit Suisse deal has spooked investors as they now assess if this can happen to their AT1 holdings in other banks as well

Rating agency Moody's has cut the outlook on UBS Group's debt to negative following its takeover of Credit Suisse,

The demise of 167-year-old Credit Suisse was triggered by the collapse of U.S. mid-sized lenders Silicon Valley Bank (SVB) and Signature Bank, and investors are concerned about potential bombs ticking

Credit Suisse crisis: Swiss government said it would provide $9 bn to help UBS meet the possible losses while taking over Credit Suisse, and Swiss National Bank will provide $100 bn of liquidity

UBS AG was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse, sources said

While the RBI's monetary policy committee kept rates steady in its recent policy review in April, UBS expects the Indian central bank to hike rates starting June 2022

The Paris appeals court is set to rule on whether to confirm or adjust the penalty against Switzerland's largest lender, which was imposed after an initial trial in 2019.

Toshiba started weighing options including privatization in May after weeks of takeover discussions sparked by private equity firm CVC Capital Partners' $21 billion acquisition bid

As Switzerland's largest bank, UBS has around 70,000 staff worldwide

Fears about inflation and uncontrolled rises in long-term yields, a risk not flagged by participants at all in last year's Annual Reserve Manager Survey, were raised by 57% of respondents this year

Credit Suisse is considering centralising the management of its bankers to the world's wealthy, replacing a regional structure, three sources said