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Hanspeter Rhyner, CEO of Zuger Kantonalbank, reported a slight increase in net interest income despite falling rates, driven by strong credit growth. The bank anticipates continued volatility in financial markets but does not foresee a widespread crash, maintaining a solid equity base and proactive risk management. Demand for fixed-rate mortgages is rising, while their crypto offerings have seen unexpected interest since launch.
SIX is tightening exclusion criteria for its ESG equity and bond indices, particularly targeting fossil energy. New rules will ban companies generating over 1% of revenue from coal and impose stricter limits on oil and greenhouse gas-intensive electricity generation. Adjustments to the indices will take effect in March and April 2025, with detailed changes announced in mid-March.
The surge in cryptocurrency interest, particularly among younger investors, is reshaping the market landscape, especially with Bitcoin reaching $100,000. As regulatory frameworks like MiCA and CARF emerge, they promise enhanced transparency and investor protection, addressing risks while fostering long-term engagement. The shift towards data-driven decision-making is crucial for navigating this evolving asset class, marking a new era of trust and opportunity.
The final report from the Parliamentary Commission of Inquiry (PCI) on the Credit Suisse crisis will influence Swiss banking regulations, focusing on the actions of authorities during the emergency merger with UBS. It scrutinizes the conduct of FINMA and the Swiss National Bank, highlighting potential failings by former Finance Minister Ueli Maurer. Recommendations from the PCI are expected to shape future regulations for "too big to fail" banks, with amendments likely to be proposed by the Federal Council in 2025.
Kristine Schulze has been elected to the Bank Council of Zürcher Kantonalbank, replacing Henrich Kisker, who is stepping down due to age-related term limits. A sustainability specialist with over 30 years in the financial sector, Schulze's experience is seen as a valuable addition to the council.
Baloise will expand its Board of Directors next year, increasing the number from nine to ten members. Christoph Gloor and Hans-Jörg Schmidt-Trenz will not seek re-election, with André Helfenstein and Vincent Vandendael proposed as replacements. Cevian, the largest shareholder, will be represented by Robert Schuchna, as the company aims to enhance its expertise in insurance and finance through a new "refocusing" strategy.
Baloise will expand its Board of Directors from nine to ten members, with André Helfenstein and Vincent Vandendael replacing Christoph Gloor and Hans-Jörg Schmidt-Trenz, who are not seeking re-election. Robert Schuchna will represent major shareholder Cevian, which holds nearly 10% of the company. This restructuring aims to enhance the company's insurance and financial expertise as part of a refocusing strategy to develop new services and strengthen its core business in European markets.
Patrick O. Müller has been unanimously elected as the new Chairman of the Zurich Banking Association, succeeding Daniel Hunziker. Müller, a 46-year-old Regional Director at UBS with 18 years of experience, aims to represent the financial sector in Zurich with commitment and responsibility. Hunziker, who led the Association from 2019 to 2024, will be honored for his contributions at the 2024 General Meeting.
SIX announces a leadership change as CEO Jos Dijsselhof departs for a new opportunity in the Middle East, effective January 1, 2025. He will be succeeded by Bjørn Sibbern, currently Global Head Exchanges, who has a background with Nasdaq and E*TRADE. Dijsselhof will remain until February 2025 to ensure a smooth transition.
Sixt SE
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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credit suisse report to shape future swiss banking regulations
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10:55 05.12.2024
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