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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.
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.
Michael Hartmann has been appointed as the new Head of the Private and Corporate Clients Division at Liechtensteinische Landesbank, effective July 1, 2025, succeeding Urs Müller, who is retiring. With over 35 years of experience in the financial sector, Hartmann has held various management roles and was most recently leading Private Banking in Zurich West at Zürcher Kantonalbank.
Migros Bank is seeking a new head of corporate clients following the departure of Bernd Geisenberger, who has led the division since 2018. Geisenberger, a German national, is leaving to pursue a new career direction, with his former deputy, Olivier Häner, stepping in on an interim basis. CEO Manuel Kunzelmann praised Geisenberger for successfully developing the corporate client business into a key segment for the bank.
The Raiffeisen Pension Fund is facing criticism for offering a mere 2 percent interest rate on retirement savings, significantly lower than competitors like UBS and Migros Bank, which provide 9 percent and 7.5 percent, respectively. The fund's weak performance is attributed to its target interest rate and coverage ratio policies. Following this turmoil, CEO Heinz Huber is set to leave, with no clear internal successor in sight.
The Swiss National Bank (SNB) has reduced the key interest rate by 50 basis points to 0.5%, signaling urgency amid economic uncertainties and low inflation. While some economists view this as a necessary step to curb the franc's appreciation, others believe its impact will be limited, raising concerns about the SNB's remaining monetary policy tools. The strong franc continues to negatively affect SMEs, with many calling for measures to prevent further appreciation against the euro.
Migros Bank (CH) Fds 65 V
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ubs faces challenges amid customer service failures and integration concerns
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17:39 26.03.2025
serena fioravanti joins migros bank board of directors as risk expert
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17:09 20.01.2025
migros bank seeks new head of corporate clients after geisenberger departure
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07:22 09.01.2025
raiffeisen pension fund offers low interest rate amid leadership changes
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07:43 19.12.2024
snb cuts interest rates amid economic uncertainty and currency concerns
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11:30 12.12.2024
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