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The SVP has retracted its radical proposal to break up big banks, initially called for after the Credit Suisse crisis, citing better regulatory alternatives from the Federal Council and the parliamentary commission. Thomas Matter emphasized that the new measures aim to significantly reduce risks, particularly in investment banking, without the need for drastic structural changes.
Serena Fioravanti has been appointed to the Board of Directors of Migros Bank, filling the vacancy left by Ursula La Roche. Currently the Group Chief Risk Officer at ABN Amro, Fioravanti brings extensive experience from her previous roles at Credit Suisse, Novartis, and UBS, along with a background in theoretical physics from the University of Rome. Chairman Bernhard Kobler highlighted her expertise in risk management, treasury, and liquidity management.
Migros Bank has appointed Serena Fioravanti to its Board of Directors, effective March 1, 2025, filling the vacancy left by Ursula La Roche's departure in mid-2024. Fioravanti, a risk specialist, previously served as Chief Risk Officer at Credit Suisse Switzerland and is currently the Group Chief Risk Officer at ABN Amro.
Credit Suisse has sparked a new wave of selling in global equities, leading to significant market volatility. Investors are reacting to the bank's recent developments, which have raised concerns about broader financial stability. This situation underscores the interconnectedness of global markets and the potential for rapid shifts in investor sentiment.
Julius Bär, Switzerland's largest private bank, announced personnel cuts despite a significant profit increase in 2024. Unlike during the 2023 collapse of Credit Suisse, the bank avoided similar risks, although it has faced past misconduct issues. Meanwhile, Austrian billionaire René Benko was arrested for the collapse of his Signa real estate group.
Markus Ronner from UBS addresses the Federal Council's proposals to increase capital requirements for banks following UBS's takeover of Credit Suisse. As the consultation process is set to begin in May, concerns arise about potential impacts on loan interest rates and the possibility of UBS relocating abroad. The discussion is part of a broader examination of financial policies, including insights from monetary economist Fabio Canetg on central banks, inflation, and economic strategies in Switzerland.
The Lucerne Festival has lost its main sponsor, Sibylla and Christoph M. Müller, after 25 years of support, due to their protest against former Credit Suisse CEO Walter Kielholz remaining on the Board of Trustees. The couple withdrew their six-figure annual contribution, citing incompatibility with the festival's values. Despite this setback, the festival has secured new sponsorship from the Schwöbel family and the Jörg G. Bucherer Foundation.
Former Credit Suisse employees in the UK retain privileges at UBS, including the option for paid sabbaticals, a benefit not available to other UBS staff. Meanwhile, the Zermatt ski race scandal continues in court, and the city of Fribourg plans celebrations for artist Jean Tinguely's centenary. Additionally, a 77-year-old man lost his driving license due to health issues, reflecting a trend among senior citizens in Switzerland, while a brewery in Bern faces backlash over a concert cancellation linked to accusations of cultural appropriation.
AirFund, backed by Amundi SA, has expanded its UK operations by appointing Markus Ruetimann, former head of Credit Suisse’s asset management, as chair and Trevor Hunt, ex-UBS asset management operations head, as CEO. This move aims to broaden its client base beyond continental Europe.
Alexandre Zeller, recently retired, reflects on his distinguished banking career, having held leadership roles at Credit Suisse, BCV, HSBC Switzerland, and the Swiss Stock Exchange, culminating as a partner at Lombard Odier. He discusses the factors behind Credit Suisse's decline and his experiences managing the Falciani affair, all while enjoying fondue bourguignonne. At Lombard Odier, he focused on modernizing IT, compliance, and human resources until the end of 2024.
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svp withdraws radical banking reform proposals after new regulatory suggestions
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18:23 18.02.2025
serena fioravanti joins migros bank board of directors as risk expert
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ITA
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08:28 18.02.2025
serena fioravanti joins migros bank board of directors effective march 2025
Swiss Franc
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Migros Bank (CH) Fds 0 I
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07:24 18.02.2025
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former credit suisse employees retain unique privileges at ubs in uk
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07:10 17.02.2025
AirFund expands UK operations with new leadership from Credit Suisse and UBS
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06:00 17.02.2025
alexandre zeller reflects on his banking career and credit suisse's downfall
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05:03 17.02.2025
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