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UBS Italia has announced 180 redundancies, including 162 from UBS Europe Se and 18 from UBS Fiduciaria. Trade unions have expressed strong opposition, highlighting the employees' commitment during the integration process following the Credit Suisse acquisition and demanding a meeting to discuss reducing layoffs and exploring alternatives like retraining and the Solidarity Fund.
Swedbank AB has launched a Senior Non-Preferential Green Bond issue maturing in 2029, aimed at financing environmentally sustainable projects. UBS Europe SE will act as the Stabilization Manager, with a stabilization period until April 22, 2025. The offering is designed to attract investors interested in both positive environmental impact and financial returns, although specific details regarding the total nominal amount and offer price are yet to be confirmed.
The public prosecutor has requested a maximum fine of 225,000 euros against UBS's French subsidiary for harassing two whistleblowers who exposed its tax evasion practices. The defense called for acquittal, citing the bank's financial struggles during the 2008 crisis as context. The Paris Criminal Court will announce its decision on March 10, 2025.
UBS's French branch faces a 225,000 euro fine for harassing whistleblowers who exposed the bank's illegal tax evasion practices. Prosecutors allege that between 2008 and 2010, the bank pressured executives Stéphanie Gibaud and Nicolas Forissier, leading to their dismissal. The trial, which began on December 3, also addresses charges of moral harassment and witness tampering, with a verdict expected on March 10, 2025.
The public prosecutor has requested a maximum fine of 225,000 euros against UBS's French subsidiary for moral harassment of whistleblowers who exposed a tax evasion scheme. The case, which has lasted over 15 years, highlights the necessity of the Sapin II law protecting whistleblowers. The Paris Criminal Court will announce its decision on March 10, 2025.
UBS's French subsidiary faces a maximum fine of 225,000 euros for moral harassment of whistleblowers who exposed a tax evasion scheme. The prosecutor highlighted the bank's "incredible resistance" to acknowledging the linked cases, while the defense called for acquittal, citing the financial crisis as a context for management decisions. The court's ruling is expected on March 10, 2025.
UBS France has been fined €225,000 for harassing whistleblowers who exposed a tax evasion scheme. The prosecutor highlighted the bank's "incredible resistance" in linking the harassment to the tax fraud case, while the defense called for acquittal, citing the financial crisis as a context for management decisions. The court's ruling is expected on March 10, 2025.
LGT Bank has appointed Wolfgang Eisl to lead its Austrian subsidiary starting January 2025. Eisl, who joined LGT in 2021 following the acquisition of UBS Europe SE's wealth management business in Austria, brings nearly 30 years of experience in the financial sector. He will oversee the development of the 240-strong Austrian branch.
The recent U.S. presidential election outcome introduces significant uncertainties for Europe, particularly regarding trade policies and tariffs. With the U.S. as the EU"s largest trading partner, potential tariffs could impact European exports, while a trade war may affect corporate earnings and business confidence. Additionally, geopolitical shifts, such as the resolution of the Russia-Ukraine conflict, could alter energy markets and economic dynamics, emphasizing the need for cohesive European strategies amidst political fragility.
UBS Europe SE, Frankfurt am Main, Zweigniederlassung Schweiz, Opfikon
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ubs announces 180 redundancies amid integration challenges in italy
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