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Dominique Gerster, a seasoned communicator with nearly two decades at UBS and Credit Suisse, will join the Zurich consultancy IRF as a partner in November 2024. He brings extensive experience in corporate communications, crisis management, and strategic messaging, having led global communications at Credit Suisse during challenging times. Gerster holds a Master's degree in law and is pursuing an Executive MBA at the University of St. Gallen, set to complete in early 2025.
BNP Paribas has seen over 25% growth in assets under management in Switzerland, driven by a strategic focus on the German-speaking market and the fallout from Credit Suisse's collapse. CEO Beat Bachmann highlights the bank's unique integration of wealth management and corporate services, attracting entrepreneurial families seeking diversification. Despite this success, he notes that BNP Paribas is still in the early stages of its onshore business in Switzerland.
Swiss political parties are anxious about the potential loss of substantial donations following UBS's acquisition of Credit Suisse, which had previously contributed up to one million francs to conservative parties. UBS has indicated it may not increase its donation volume, leaving parties reliant on past contributions to navigate an expensive election year.
UBS has lowered its target price for Edenred, as reported by Cercle Finance. BOURSORAMA, acting solely as a distribution channel, emphasizes that it has not influenced the analysis and bears no responsibility for its content. The institution maintains a conflict of interest management policy to ensure objectivity in its investment recommendations.
UBS aims to become the leading European investment bank while expanding its market share in the USA, where M&A activity is robust. Despite facing challenges from dominant US banks and ongoing integration work with Credit Suisse, UBS is positioned for growth, having acquired top M&A advisors and showing potential for upward movement in league tables. The M&A advisory business is expected to gain momentum, with optimism surrounding upcoming large transactions.
UBS has begun migrating Credit Suisse clients to its platform, with initial tests in Hong Kong and Singapore proving successful. Over the coming quarters, approximately 1.3 million clients will be integrated, involving the transfer of vast amounts of data, while UBS plans to eliminate around 90% of Credit Suisse's applications and servers.
UBS has begun integrating Credit Suisse's operations, successfully transferring initial client funds to its platform. Following tests with several hundred clients in Hong Kong and Singapore, around 1.3 million Credit Suisse clients are set to migrate over the coming quarters, with significant data integration planned. UBS will eliminate 90% of Credit Suisse's applications, having already deactivated 560 and 40,000 servers.
UBS's Head of Technology, Dargan, announced that the migration of the first Credit Suisse clients has been successful, with upcoming migrations planned for Luxembourg and Hong Kong, followed by Singapore. UBS is on track to shut down approximately 90% of Credit Suisse's 3,000 applications and has already decommissioned around 560 applications and 40,000 servers, indicating strong progress in technology integration.
Castro, a developer with a troubled past in real estate, has shifted his focus to building sustainable, affordable housing. After experiencing the emotional toll of evicting tenants, he now prioritizes the cost of housing, worker safety, and environmental impact, aiming to create a positive legacy in the industry. His innovative approach includes collaborating with designers to implement prefab technologies, ensuring a more responsible construction process.
Active ETFs are increasingly viewed as enhanced indexing solutions rather than traditional alpha-generating strategies. In Europe, the ETF market is projected to reach $3 trillion by June 2028, driven by retail investors and millennials who favor digital investment platforms. While actively managed ETFs represent a small portion of the market, their appeal is growing, particularly in fixed income and thematic investments.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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