The Swiss stock exchange closed lower, with the SMI down 0.26% at 11,384.92 points, marking a 3% loss over the week and reducing year-to-date gains to just 2%. Investor uncertainty stems from the Federal Reserve's cautious approach to interest rate cuts and concerns over a potential U.S. government shutdown. Notable declines were seen in UBS, Partners Group, and various insurance companies, while Idorsia plummeted 50.35% due to delays in drug negotiations.
Baloise has appointed Andrea Kleiner as the new Head of Corporate Customers, effective April 1, 2025, succeeding Patric Olivier Zbinden, who will transition to Head of Customer Services. Kleiner, with extensive experience in the insurance sector and a focus on digital transformation, will join the Executive Committee to drive strategic goals and enhance the Corporate Customers division. CEO Clemens Markstein emphasized her strategic thinking and implementation skills as vital for Baloise's growth and efficiency objectives.
Swiss Life Asset Managers has significantly expanded its asset management capabilities, managing CHF 262 billion, with CHF 117 billion from third-party clients, positioning itself as a top player in Switzerland. The firm focuses on stable income-generating investments in real estate, infrastructure, and securities, while leveraging unique market opportunities and maintaining strong client relationships. With a strategic emphasis on organic growth and sustainable investments, Swiss Life aims to enhance its portfolio amidst a competitive landscape.
J.P. Morgan's Swiss Investment Banking head, Reinout Böttcher, expresses cautious optimism for 2025, anticipating a revival in IPOs and capital market transactions following a challenging 2024. Despite subdued sentiment in Europe, he notes a well-filled M&A pipeline and strong performance in the DCM business, highlighting the resilience of Swiss companies in the global market.
J.P. Morgan anticipates a rebound in Swiss IPOs and capital market transactions by 2025, despite a challenging 2024. The loss of Credit Suisse is expected to foster a more welcoming environment for foreign banks, while the DCM business remains robust, supporting major Swiss firms in raising funds abroad. Böttcher highlights the potential for recovery in the European economy, driven by the positive momentum seen in the US.
Reinout Böttcher, Head of Swiss Investment Banking at J.P. Morgan, expresses cautious optimism for 2025, anticipating a recovery in IPOs and M&A activity despite a challenging 2024. While the loss of Credit Suisse has a modest direct impact, it may lead to increased openness towards foreign banks among Swiss companies. Böttcher highlights a vibrant DCM business and a well-filled M&A pipeline, indicating potential growth opportunities ahead.
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