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Swiss Finance Minister Karin Keller-Sutter stated that the government will not be influenced by UBS's intense lobbying while revising financial regulations following Credit Suisse's collapse. She emphasized the need to protect taxpayers and ensure that systemically important banks like UBS are resolvable in a crisis. Keller-Sutter also clarified that she has engaged with UBS management but will not adopt their proposals without considering broader public interests.
Swiss Finance Minister Karin Keller-Sutter stated that the government will not be influenced by UBS's intense lobbying as it revises financial regulations following Credit Suisse's collapse. She emphasized the need for new capital requirements to protect taxpayers and ensure that UBS remains resolvable in a crisis. Despite ongoing communication with UBS management, she affirmed that the government must prioritize public interests over the bank's business concerns.
Swiss Finance Minister Karin Keller-Sutter stated that the government will not yield to UBS's lobbying as it drafts new financial regulations following Credit Suisse's failure. While acknowledging the bank's intense lobbying efforts, she emphasized the need to protect taxpayers and ensure that UBS remains resolvable in a crisis. Keller-Sutter confirmed ongoing communication with UBS management but clarified that the government will not simply adopt the bank's proposals.
UBS has secured the top position in APAC investment banking revenues for Q1 2025, achieving a market share of 5.4%. The bank also excelled in regional M&A, capturing 16.5% of the market, and improved its standing in DCM, moving from 24th to 8th place. However, its global performance remains mixed, with a rise to 10th in Global ECM revenue but a drop in financial sponsor revenues.
Julius Baer is set to open a branch in Milan by the first half of 2025, marking its entry into the onshore Italian market. Roberto Coletta, formerly of Deutsche Bank, will lead the new branch, which will operate under Bank Julius Baer Europe SA in Luxembourg. This expansion underscores the bank's commitment to serving Italian clients and enhancing its presence in Europe.
UBS has delayed its net zero emissions target for its own operations from 2025 to 2035, citing challenges related to the commercial real estate portfolio acquired from Credit Suisse. The bank's latest sustainability report indicates a shift in focus, removing direct links between top management remuneration and climate targets, while still incorporating environmental factors into performance assessments. Despite the postponement, UBS remains a member of the Net-Zero Banking Alliance, which is facing potential changes to its climate target commitments.
The Swiss Bank Employees Association criticizes politicians and regulators for failing to hold Credit Suisse's top managers accountable two years after UBS's takeover. They demand a new criminal standard for bank executives and express disappointment with the Parliamentary Commission of Inquiry's findings, emphasizing the need for a major international bank to support Switzerland's economy and job market. The association also calls for personnel changes at the Financial Market Supervisory Authority due to its inaction.
The Swiss National Bank (SNB) has called for improvements in the capital regime of the banking sector following the 2023 collapse of Credit Suisse, which was taken over by UBS. The government is considering stricter regulations, particularly regarding UBS's capital requirements for its foreign subsidiaries, despite UBS arguing that it is already well-capitalized compared to global peers. The SNB noted positive market indicators for the integration of Credit Suisse into UBS, while also highlighting ongoing risks in the mortgage and real estate markets.
The Swiss National Bank has called for improvements in the capital regime of the banking sector following the 2023 collapse of Credit Suisse, which was taken over by UBS. The government is considering stricter regulations, particularly regarding UBS's capital requirements for its foreign subsidiaries, despite UBS arguing that it is already well-capitalized compared to global peers. The SNB noted positive market indicators for the integration of Credit Suisse into UBS, while also highlighting ongoing risks in the mortgage and real estate markets.
The Swiss National Bank has called for reforms in the banking capital regime following the 2023 collapse of Credit Suisse, supporting government efforts to enhance industry resilience. Stricter regulations are proposed for UBS, which is currently integrating Credit Suisse, amid concerns over its capital adequacy and the risks in the mortgage and real estate markets.
Credit Suisse Strategic Income I
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