Luzerner Kantonalbank (LUKB) will begin offering deposit and delivery services for Bitcoin and Ethereum starting October 1, 2024, becoming the first traditional bank in Switzerland to do so among cantonal banks. This service allows customers to transfer cryptocurrencies from other wallets to their securities custody account, complementing LUKB's existing crypto trading and custody offerings. The bank ensures secure custody of cryptocurrencies by adhering to recognized security standards, certified under the ISAE 3000 standard.
UBS is ahead of schedule on its cost-cutting plans, with CEO Sergio Ernotti noting they are about six months ahead of forecasts. The merger with Credit Suisse has been legally completed, allowing progress on cost reductions, though full benefits may not be realized until late 2025 or 2026. UBS is also expanding its market share in foreign exchange, equities, and investment banking, particularly in the US, despite anticipating a more challenging third quarter for M&A activities.
Holcim shares are expected to see further price returns, with eleven "buy" recommendations from analysts, alongside thirteen "holds" and one "sell." A future payout ratio of 50 to 60 percent is considered realistic, potentially increasing the dividend yield to 5-6 percent, which could enhance the valuation of Holcim shares.
Luzerner Kantonalbank (LUKB) is set to become the first traditional Swiss bank to offer deposit and delivery services for cryptocurrencies, starting October 1, 2024. Initially supporting Bitcoin and Ethereum, the bank will also allow transfers from other wallets to its custody accounts. LUKB aims to enhance its crypto offerings while ensuring security through ISAE 3000-certified infrastructure.
UBS is approximately six months ahead in its cost-saving initiatives and the integration of Credit Suisse, according to CEO Sergio Ermotti. The bank has completed legal entity mergers with 80 regulators providing 180 approvals globally, positioning it for further cost reductions. While market share gains are evident, particularly in equities and foreign exchange, significant cost savings from client data integration are not expected until late 2025 or into 2026.
Regula Berger will succeed Basil Heeb as CEO and Chairwoman of Basler Kantonalbank on March 1, 2025, following Heeb's decision to step down after six years in the role. Berger, currently Deputy CEO and Head of Commercial Client Sales, has been with the bank since 2019 and is recognized for her strong leadership. Heeb will assist in the transition until the end of March 2025 before pursuing opportunities outside the Group.
Regula Berger will become the new CEO and Chairwoman of the Executive Board at Basler Kantonalbank on March 1, 2025, succeeding Basil Heeb, who is stepping down after six years in the role. Berger, currently the Deputy CEO and Head of Commercial Client Sales, has been with the bank since 2019 and is recognized for her strong leadership skills. Heeb's tenure is noted for enhancing BKB's position and profitability.
Nau
Saxo Bank, based in Copenhagen and backed by Chinese auto group Geely, is closing its offices in Hong Kong and Shanghai while scaling back operations in Tokyo due to a sluggish Chinese economy. This strategic retreat will impact 10 staff members as the bank reassesses its presence in Asia.
Regula Berger will succeed Basil Heeb as the head of Basler Kantonalbank (BKB) on March 1, marking the first time a woman has led the bank. Heeb, who is stepping down at his own request after six years, will assist in the transition until March 2025 before pursuing opportunities outside BKB. Bank Council Chairman Adrian Bult expressed confidence in Berger's ability to continue the bank's successful trajectory.
Basil Heeb, CEO of Basler Kantonalbank (BKB), will step down at the end of February after six years in leadership. Under his management, BKB strengthened its position as a secure and sustainable bank, setting a solid foundation for future strategic development, as noted by Chairman Adrian Bult.
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