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swiss national bank cuts rates amid global economic uncertainty
The Swiss National Bank (SNB) has cut its guide rate from 0.50% to 0.25%, signaling a potential end to the cycle of rate cuts among major central banks amid global economic uncertainty. Analysts express mixed views, with some predicting further cuts if disinflation persists, while others believe rates will stabilize, reflecting the SNB's cautious approach to inflation and economic conditions. The next meeting in June is deemed crucial for future policy direction.
luxury skis and banking bonuses highlight economic disparities in switzerland
The Swiss National Bank reported an impressive profit of CHF 80 billion last year, with CHF 3 billion allocated to the federal and cantonal coffers. Meanwhile, luxury brand Hermès is selling exclusive skis for CHF 15,600, reflecting the stark contrast between the banking sector's bonuses and the struggles of ordinary citizens facing high interest rates and rising rents. As UBS CEO Sergio Ermotti could earn CHF 20 million in 2024, the disparity between wealth and everyday challenges continues to grow.
Migros Bank announces leadership change in corporate client division
Migros Bank is set for a leadership transition in its corporate client division as Bernd Geisenberger steps down after seven years, effective June 2025, to explore new opportunities. Olivier Häner, currently Geisenberger's deputy, will take over as interim head starting February 1, 2025. CEO Manuel Kunzelmann praised Geisenberger for successfully developing the corporate client business into a key and profitable segment for the bank.
migros bank announces management change in corporate clients division
Migros Bank is undergoing a management change in its Corporate Clients division as Bernd Geisenberger, who has led the department for seven years, departs at the end of June 2025 to pursue a new career path. Olivier Häner, Geisenberger's former deputy, will assume interim leadership starting February 1, 2025. CEO Manuel Kunzelmann praised Geisenberger for successfully developing the corporate client business into a key and profitable segment for the bank.
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