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An amendment to the law delays the tightening of capital adequacy requirements for UBS, providing the bank with a reprieve of three to four years. This shift, influenced by lobbying efforts, allows UBS to postpone raising CHF 15 to 25 billion in new equity capital, while simultaneously engaging in share buybacks that could increase risk and reduce stability.
The debate over UBS salaries highlights a common perception that high managerial pay is undeserved, often fueled by envy. Critics argue that office jobs are less demanding, overlooking the immense pressure faced by executives. Ultimately, every role deserves fair compensation, regardless of its nature.
UBS faces scrutiny as a series of operational mishaps raises questions about its reliability, including double charges on credit card bills and customer account issues. As the bank prepares for the migration of Credit Suisse customers, concerns grow over its ability to maintain stability and security amidst these challenges. The accumulation of errors suggests UBS may no longer be the robust institution it once was, potentially jeopardizing its reputation in Swiss banking.
Sergio Ermotti has put Aleksandar Ivanovic in charge of UBS's asset management, but Ivanovic's leadership is under scrutiny following the controversial sale of the Kameha luxury hotel. His recent promotion of Petar Ilic, who has initiated significant layoffs, raises concerns about the future of key managers and potential outsourcing of operations to Poland and India.
The National Council has unanimously praised the PUK report regarding the authorities' actions during the CS crisis, following similar commendation from the Council of States. However, this apparent consensus masks an impending intense debate in Parliament over potential banking regulation reforms.
The political debate over the PUK report regarding fines for bankers continues to intensify, with the SVP facing setbacks in the National Council. However, it is anticipated that parliamentary action on the matter will take several years to materialize.
Marc Jean-Richard has accused a Zurich entrepreneur, his father, and an assistant of defrauding UBS out of millions, demanding prison time for the main defendant. The case, rooted in the 1990s, involves allegations of falsified accounts and misappropriation of funds, leading to bankruptcy and significant debts owed to UBS and other creditors. The trial will unfold over two days, with the presumption of innocence applying to all defendants.
A century ago, Switzerland was home to eight major banks, a stark contrast to the current landscape. UBS reflects on the recent challenges faced by Credit Suisse, highlighting the significant changes in the banking sector over the past hundred years. The evolution of these institutions underscores the dynamic nature of finance in Switzerland.
Raiffeisen has reported a significant profit slump of 13% due to rising costs from expanding its workforce, despite strong financial performance and a growing share of the mortgage market in Switzerland. The cooperative bank is capitalizing on opportunities in the corporate client segment, acquiring thousands of new clients while increasing its employee count to over 12,600. As it aims to strengthen its position amidst the challenges faced by competitors, Raiffeisen's cost/income ratio remains attractive at 56%.
EFG International reported a 6% increase in net profit for 2024, reaching CHF 321.6 million, and announced a higher dividend of 60 centimes per share. The bank also acquired Geneva-based Cité Gestion, which managed CHF 7.5 billion in assets, while net new assets surged to CHF 10.1 billion, exceeding expectations.
CS. Barthoulot-Coaching SNC
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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