Tidjane Thiam, former CEO of Credit Suisse, faces allegations of using the bank"s security staff to spy on his partner"s ex-husband, leading to a $15 million lawsuit. This follows previous accusations of misconduct during his tenure, which resulted in serious regulatory violations. Thiam, now a political candidate in Côte d"Ivoire, may find his past actions complicating his future ambitions.
Sükriya Aclan has been appointed as the new Head of Wealth Management at UBS Germany, taking over from Philipp Neuhofen. Aclan, who has a background with Dresdner Bank, Commerzbank, and Oddo BHF, will oversee the bank's wealthiest private clients in Germany.In other leadership changes, Björn Jesch has left DWS, with Vincenzo Vedda stepping in as global Chief Investment Officer. Sven Württemberger has been named as Jesch's successor as Head of Switzerland at DWS. Nikolaus Maximilian Linaric will join the Executive Board of ING Germany in December, while Rainer Mellis has resigned from Volksbank Düsseldorf Neuss amid a fraud case. Additionally, Stephan Manz has moved to Aareal Bank as Chief Operating Officer.
UBS aims to enhance its US banking operations by obtaining a national Industrial Loan Company license from the FDIC, which would allow for a broader range of lending services. Despite skepticism from analysts regarding immediate share price increases, UBS's Chairman Kelleher sees potential for growth, particularly in wealth management, where nearly half of its revenue originates from the Americas. The bank's profitability in the US is hindered by its current licensing limitations, impacting its ability to offer high-margin loans.
Alstom shares have shown a positive trend, rising significantly in recent weeks, with a notable increase of 4.74% to USD 22.36 on November 14, 2024. Analysts from various banks have adjusted their target prices, with DZ Bank raising its fair value to 24 euros while maintaining a "Hold" rating, and JPMorgan increasing its target to 24.80 euros with an "Overweight" rating, reflecting confidence in the company's turnaround despite ongoing challenges.
The DAX index closed at 19,003, marking a new monthly low after a decline of 2.1% earlier in the week. The index is currently testing the 19,000 threshold, with potential upward movement towards 19,250 if it surpasses the 50-day line at 19,104. Conversely, a drop below 19,000 could lead to further declines, targeting the October low at 18,912.
UBS AG has maintained its "Buy" rating for Deutsche Bank, keeping the price target at €19.50 following an investor conference. Despite a 1.3% drop in shares to €15.61, there remains a potential upside of 24.90%. Deutsche Bank shares have risen 30.0% since the start of 2024, with Q4 2024 financial results set for January 30, 2025.
UBS has maintained a 'Buy' rating for Deutsche Bank, setting a target price of 19.50 euros following insights from an investor conference. CFO James von Moltke expressed confidence in achieving the bank's earnings target for 2025. Currently, Deutsche Bank AG manages EUR 622 billion in assets and EUR 473.7 billion in loans.
Deutsche Bank AG is reviewing its legal risks following an unexpected profit hit due to an unfavorable court ruling related to its Postbank acquisition over a decade ago. The bank set aside up to €1.3 billion in provisions, leading to a postponement of a previously reaffirmed buyback.
UBS has maintained its "Buy" rating for Deutsche Bank following an investor conference, with analyst Mate Nemes keeping the price target at €19.50. CFO James von Moltke expressed confidence in achieving the earnings target for 2025.
UBS has maintained its 'Buy' rating for Deutsche Bank, setting a price target of 19.50 euros following insights from an investor conference. CFO James von Moltke expressed confidence in achieving the earnings target for 2025. As of November 13, Deutsche Bank's stock was trading at approximately 15.58 euros, reflecting a decline of 1.48%.
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