{
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ubs chairman criticizes penalties after credit suisse takeover and advocates private solutions
UBS chairman Colm Kelleher stated that the bank should not face penalties for taking on responsibilities from the defunct Credit Suisse after a government-brokered takeover. He emphasized that stepping in to stabilize the financial system should be rewarded, not penalized, and argued that a private resolution would have been preferable for Credit Suisse. Kelleher also noted that the integration process is progressing well, particularly in Asia, and expressed no concerns about the liabilities inherited from Credit Suisse.
finews.com
United States Dollar Credit Suisse UBS USA GBR CHE Colm Kelleher Show more
Finance & Economy, Transcript
07:00 19.11.2024
banks navigate us sanctions pressure on russian clients and legal challenges
US sanctions enforcement is intensifying, pressuring Swiss banks like UBS to comply strictly with the Office of Foreign Assets Control (Ofac) regulations. Recent inquiries into former Credit Suisse Russian clients highlight the complexities of legal obligations and banking secrecy, as banks aim to avoid severe penalties while navigating a challenging relationship with US authorities. The situation raises concerns about the protection of potentially suspicious clients and the future of attorney-client privilege in Switzerland.
watson.ch
United States Dollar UBS Credit Suisse CHE RUS USA Marcel Rohner Scott Miller Show more
TradFi, News Article
06:00 19.11.2024
vp bank ceo outlines growth strategy and commitment to zurich office
Urs Monstein has been officially appointed CEO of VP Bank, emphasizing continuity and growth opportunities despite recent staff departures, particularly in Zurich. He reassured that Zurich remains a vital hub for the bank, which is adapting to enhance client relationships and attract new talent amid industry changes. Monstein expressed confidence in VP Bank"s service platform and the capabilities of its employees, viewing current challenges as part of the business landscape rather than solely as management failures.
finews.com
United States Dollar Euro VP Bank AG Credit Suisse LIE Urs Monstein Stefan Zimmermann
TradFi, Transcript
05:30 19.11.2024
vp bank ceo outlines growth strategy and commitment to zurich office
Urs Monstein has been officially appointed CEO of VP Bank, emphasizing continuity and growth opportunities despite recent staff departures, particularly in Zurich. He reassured that the Zurich office remains vital, and attracting new talent has become easier amid industry changes. Monstein expressed confidence in the bank"s service platform and the capabilities of its employees, viewing current challenges as part of the business landscape.
finews.com
United States Dollar Euro Credit Suisse VP Bank AG LIE Urs Monstein Stefan Zimmermann
Finance & Economy, Transcript
05:30 19.11.2024
vp bank ceo discusses growth opportunities and challenges in zurich location
Urs Monstein has been appointed CEO of VP Bank, emphasizing continuity and growth despite recent turbulence, including job cuts and office closures. He remains optimistic about the bank"s potential, particularly in the intermediaries business, and reassures that Zurich remains a key location for future operations. Monstein acknowledges challenges but believes in the bank"s strong service platform and dedicated employees.
finews.ch
VP Bank AG Credit Suisse LIE Urs Monstein Stefan Zimmermann
TradFi, Transcript
05:30 19.11.2024
ubs chairman criticizes penalties after credit suisse takeover and advocates private solutions
UBS chairman Colm Kelleher stated that the bank should not face penalties for its role in the government-brokered takeover of Credit Suisse, emphasizing that stepping in to stabilize the financial system should be rewarded, not penalized. He argued that a private resolution would have been preferable for Credit Suisse, despite acknowledging the challenges it would have posed. Kelleher also reported that the integration process is progressing well, with a focus on technology and client migration in Asia, and expressed no concerns about liabilities from Credit Suisse.
finews.asia
United States Dollar Credit Suisse UBS CHE Colm Kelleher
TradFi, Transcript
04:57 19.11.2024
ubs faces challenges in transferring credit suisse client data in switzerland
UBS CEO Sergio Ermotti has emphasized the complexities of migrating Credit Suisse clients to UBS"s IT platform, noting successful initial transfers in Hong Kong and Luxembourg. The significant challenge remains in Switzerland, where over one million client relationships will be transitioned in three phases starting next year, a move deemed essential for achieving targeted cost savings.
zentralplus
Credit Suisse UBS HKG CHE LUX Sergio Ermotti Show more
TradFi, News Article
21:40 18.11.2024
ubs faces client migration challenges after credit suisse acquisition
UBS chief Ermotti highlighted the challenges of integrating Credit Suisse"s clients following UBS"s acquisition of the troubled bank in March 2023. The migration process, particularly in Switzerland, will involve transferring over one million client relationships in three phases over 18 months. As UBS navigates this transition, it faces regulatory scrutiny to prevent future financial instability while advocating for balanced regulations to support growth.
MarketScreener
United States Dollar Credit Suisse UBS CHE Ermotti Sergio Ermotti
TradFi, Market Report
19:03 18.11.2024
ubs ceo highlights challenges in integrating credit suisse customer migration
UBS CEO Sergio Ermotti highlighted the significant challenge of migrating Credit Suisse customers to UBS"s platform, particularly in Switzerland, starting next year. The integration process, which includes over a million client relationships, is expected to take around 18 months. Ermotti emphasized the importance of technological advancements, especially artificial intelligence, in navigating the banking sector"s challenges while urging authorities to avoid imposing overly restrictive regulations on the enlarged UBS.
Zonebourse
United States Dollar Credit Suisse UBS CHE Sergio Ermotti
TradFi, News Article
19:03 18.11.2024
ubs navigates complex integration challenges after credit suisse acquisition
UBS is navigating the complex integration of Credit Suisse"s clients, a process expected to take 18 months, with successful transitions in Luxembourg and Hong Kong, and Singapore next. The major challenge lies in transitioning over a million Swiss clients while managing potential regulatory hurdles that could impact innovation and growth. As UBS balances these demands, it reflects a broader trend in the banking sector where innovation must coexist with tightening regulations.
Finimize
United States Dollar Credit Suisse UBS CHE Sergio Ermotti
TradFi, Market Report
19:00 18.11.2024
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