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ubs sells 19 branches in switzerland amid credit suisse integration

UBS is selling 19 branches across Switzerland as part of its consolidation efforts following the integration of Credit Suisse. The properties, located in areas such as Locarno, Glarus, Einsiedeln, and Martigny, can be acquired individually or as a package. Ultimately, UBS plans to close 85 duplicate branches, maintaining a network of 190 by 2026.
rts.ch
Credit Suisse Anlagestiftung UBS SA CHE
TradFi, News Article
09:00 20.09.2024

ubs to sell 19 branches in major consolidation effort across switzerland

UBS is selling 19 branches across Switzerland, including the Locarno branch, as part of its consolidation following the integration of Credit Suisse. This significant real estate transaction allows potential buyers to acquire individual properties or the entire portfolio, with a closing deadline expected in spring 2025. UBS plans to close 85 branches to streamline its network, aiming for 190 branches by 2026, similar to its pre-takeover count.
Corriere del Ticino
United States Dollar Credit Suisse Anlagestiftung UBS SA CHE Joe Biden Sabine Keller-Busse
TradFi, News Article
09:00 20.09.2024

ing to restrict lending to climate polluters amid growing protests

Dutch bank ING has announced plans to stop financing oil and gas companies developing new fields, aiming for a complete phase-out by 2040. The bank will drop clients not meeting climate goals by 2026, impacting around 25 clients and €1 billion in lending. ING has already reduced its investments in the sector by 40% and is pushing 2,000 clients to reassess their sustainability efforts.
VICE
Euro ING Groep N.V. Shell Aircraft International NLD Steven van Rijswijk
TradFi, News Article
09:00 20.09.2024

efg international recruits former xp advisors to enhance private banking services

EFG International has welcomed four former XP advisors—Thiago Favery, Raphael Pinheiro, Fernando Olea, and Felipe Sebe—who manage a combined $3.5 billion portfolio, to enhance its private banking services for high-net-worth Brazilian clients. They will officially join the Miami office after their non-compete period ends in December. EFG, a leading Swiss private banking group, manages assets of CHF 160 billion and is recognized for its personalized wealth management solutions.
Americas
Swiss Franc EFG International AG CHE Fernando Olea Thiago Favery Raphael Pinheiro Felipe Sebe Show more
TradFi, Market Report
09:00 20.09.2024

vp bank faces turmoil as leadership changes and layoffs loom

VP Bank is facing significant challenges, with a 55% profit drop leading to CEO Paul Arni's resignation and a restructuring plan that includes cutting 10% of its workforce. Despite these issues, the bank remains committed to its profitable German operations, focusing on private banking and wealth management, while closing its Hong Kong office and consolidating Asian business in Singapore. Competitors like LGT and LLB maintain a stronger presence in Germany, highlighting VP Bank's limited visibility in the market.
Platow
LLB Aktien Fit for Life (CHF) BlackRock, Inc. VP Bank AG LGT Academy Foundation LIE Dirk Klee Stephan Zimmermann Paul Arni Thomas Gitzel Urs Monstein Show more
TradFi, Market Report
09:00 20.09.2024

ubs initiates major sale of 19 commercial properties in project horizon

UBS is launching "Project Horizon," offering 19 commercial properties across Switzerland for sale, primarily from Credit Suisse, with a signing/closing expected by spring 2025. Interested buyers must sign a confidentiality agreement and can bid on individual properties or as a portfolio. The sale reflects the significant downsizing of Credit Suisse following its emergency acquisition by UBS.
insideparadeplatz.ch
Swiss Franc Credit Suisse Anlagestiftung UBS SA CHE
TradFi, Market Report
09:00 20.09.2024

Nike appoints Elliott Hill as new CEO amid stock struggles and strategy shift

Nike's leadership is shifting as CEO John Donahoe resigns, to be succeeded by Elliott Hill, a veteran executive with 30 years at the company. This change comes after a significant decline in stock value and aims to restore investor confidence through a return to market-oriented strategies and global expansion. Following the announcement, Nike's stock saw a nearly 10% increase, signaling investor optimism about Hill's potential to blend tradition with innovation to navigate fierce competition.
IG
United States Dollar NIKE, Inc. USA Elliott Hill John Donahoe
TradFi, Market Report
09:00 20.09.2024

Lombard Odier's Long-Term Strategy Amidst Swiss Inheritance Tax Concerns

Frédéric Rochat, Managing Partner at Lombard Odier, discusses the firm's long-term investment strategy amid declining profits and industry challenges. He expresses concern over the proposed inheritance tax initiative in Switzerland, warning it could destabilize the economy by forcing entrepreneurs to relocate or liquidate their businesses. Rochat emphasizes the importance of preserving Switzerland's balanced economic model, which supports both large corporations and small to medium-sized enterprises.
lombardodier.com
Swiss Franc Lombard, Odier & Cie CHE Joe Biden Donald Trump Frédéric Rochat Show more
TradFi, Transcript
09:00 20.09.2024

private banks advise risk-taking as federal reserve begins interest rate cuts

The US Federal Reserve has initiated its easing cycle with a 50 basis point rate cut, reducing the target range to 4.75-5%. Private banks are advising investors to embrace more risk, particularly in equities, while suggesting a shift from cash to high-quality bonds. However, the trajectory of future rate cuts may be influenced by the upcoming presidential election.
finews.asia
United States Dollar Julius Bär Gruppe AG Lombard, Odier & Cie UBS SA HSBC Holdings plc VP Bank AG Standard Chartered PLC USA Bernd Hartmann David Kohl Homin Lee Show more
TradFi, Market Report
09:00 20.09.2024

world bank supports bangladesh in inclusive growth and recovery reforms

World Bank Vice President Martin Raiser concluded his visit to Bangladesh, pledging support for reforms aimed at achieving inclusive and sustainable growth. The World Bank's $2.3 billion program will enhance economic resilience, aid flood recovery, and support the Rohingya population. Raiser emphasized the need for improved governance and job creation for the 2 million youth entering the job market annually.
Mirage News
Bangladeshi Taka United States Dollar World Bank Trust Funds MMR BGD Rohingya people Bangladesh Bank Governor Martin Raiser Professor Muhammad Yunus Muhammad Yunus Show more
TradFi, Press Release
13:44 19.09.2024
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