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Rolf Olmesdahl, a prominent IT expert in banking, recently returned to UBS to lead the integration of Credit Suisse following its historic takeover. However, reports suggest he is no longer in his position, raising questions about the timing as UBS begins migrating CS data, with significant milestones ahead in 2025.
Zurich will host Business Agility Day 2024 on October 31, focusing on agile transformation and AI in the financial sector. Key speakers include UBS executives discussing agile mini enterprises, a CFO Fireside Chat with Baloise's Carsten Stolz, and insights from Postfinance on agile failures. Prime Minister Albin Kurti of Kosovo will open the event, which aims to connect decision-makers in a dynamic business environment.
Zurich will host Business Agility Day 2024 on October 31, focusing on agile transformation and digital strategy in the finance sector. Key speakers include UBS leaders discussing agile mini-enterprises, a CFO Fireside Chat with Baloise's Carsten Stolz, and a keynote by Kosovo's Prime Minister Albin Kurti. The event will feature workshops and networking opportunities for decision-makers navigating dynamic business landscapes.
The Swiss Bankers Association (SBA) has expressed concerns over the Federal Council's proposed measures for banking stability, particularly regarding the too-big-to-fail (TBTF) issue, advocating for international coordination on capital adequacy and opposing additional powers for Finma. The SBA supports the introduction of a Public Liquidity Backstop (PLB) but rejects the idea of banks paying an insurance premium for it, emphasizing the need for proportionality in regulation to maintain competitiveness. The association awaits the Parliamentary Commission of Inquiry report to finalize its stance on the proposed measures.
The City of St. Gallen is issuing a CHF 100 million bond with a 1.06% coupon and a term of 27 years, maturing on October 30, 2051. Managed by Raiffeisen and Zürcher Kantonalbank, the bond has an issue price of 100.164% and a yield of 1.053%, rated AA-/AA- by ZKB and UBS. Quotation will begin on SIX from October 28, 2024.
Neon, Yuh, and Zak lead the Consumer Bank Ranking Switzerland 2024, scoring 72.9, 71.5, and 64.1 points respectively, reflecting high customer satisfaction among neobanks. Traditional banks like Raiffeisen and Zürcher Kantonalbank are favored by women, while younger individuals still lean towards traditional banking options.
Neon, Yuh, and Zak lead the Consumer Bank Ranking in Switzerland for 2024, with satisfaction scores of 72.9, 71.5, and 64.1, respectively. Neobanks are more popular among men, while women favor traditional banks like Raiffeisen and Zürcher Kantonalbank. Despite the rise of digital banking, younger individuals aged 18 to 29 still lean towards traditional banking options.
A Danish woman deceived banks and a notary in Verbier by changing her name to sell her apartment back to herself, securing a 1.5 million franc loan despite being heavily in debt. While she was convicted of forgery, the notary was acquitted, raising serious questions about banking practices and oversight. The case has prompted further investigations into the banks' roles and potential misconduct.
The Swiss National Bank (SNB) has cut its benchmark interest rate by 25 basis points to 1.00 percent, signaling a likely further reduction in December and March due to low inflation and economic weakness. Analysts anticipate continued upward pressure on the Swiss franc, suggesting potential foreign exchange interventions to stabilize the currency. The SNB's revised inflation forecasts indicate a significant decrease in price pressures, reinforcing the need for a cautious monetary policy approach.
UBS, shielded by legal protections, faces criticism for declining service quality, with 23% of surveyed clients expressing dissatisfaction. The Competition Commission can only act retrospectively, making it difficult to address current market dominance issues, prompting calls for reform in Swiss antitrust law to better monitor complex markets.
Raiffeisen ETF FUND
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs it head olmesdahl reportedly leaves amid credit suisse integration efforts
United States Dollar
Raiffeisen ETF FUND
Credit Suisse Anlagestiftung
UBS AG
Avaloq Group AG
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07:58 07.11.2024
business agility day 2024 explores transformation and innovation in finance
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13:58 25.10.2024
Zurich to Host Business Agility Day Focusing on Transformation and Innovation
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09:53 25.10.2024
Swiss Bankers Association calls for balanced approach to banking stability reforms
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09:10 24.10.2024
St Gallen issues 100 million CHF bond with 1.06 percent coupon
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neobanks lead customer satisfaction in switzerland's banking landscape
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09:00 16.10.2024
neobanks lead customer satisfaction in switzerland's retail banking sector
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06:33 16.10.2024
banks face scrutiny in fraud case involving deceptive loan practices
Swiss Franc
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swiss national bank signals further interest rate cuts amid low inflation
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USA
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09:00 26.09.2024
ubs faces criticism over customer service amid legal protections and market dominance
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Raiffeisen ETF FUND
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CHE
DEU
Sergio Ermotti
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09:00 22.09.2024
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