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baloise and helvetia shares rise amid merger speculation despite analyst skepticism
Shares of insurers Baloise and Helvetia rose slightly amid merger rumors, with Baloise up 1.7% to CHF 182.95 and Helvetia gaining 1.1% to CHF 180.20. Analysts view the speculation as intriguing but unlikely, noting investor dissatisfaction with Baloise's management strategy. Major shareholder Cevian may push for Baloise to divest its foreign and life insurance businesses to unlock capital for shareholders.
former cs switzerland ceo andre helfenstein takes on new business roles
André Helfenstein, the former CEO of CS Switzerland, has secured new roles on the Board of Directors for the Gaydoul Group and Amag Leasing AG, marking his transition from banking to other sectors. His experience in corporate finance is expected to enhance capital procurement and leasing operations. Additionally, he will join the Baloise Board of Directors at the next Annual General Meeting, following the establishment of his consulting firm, Metis e4i GmbH.
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