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Ralph Hamers, the former CEO of UBS Group AG, has joined Arta Finance, a digital-wealth platform founded by ex-Google employees. As an external senior adviser, he will help the firm leverage artificial intelligence to democratize family office-style investing for a broader audience.
Ralph Hamers, former CEO of UBS, has joined Arta Finance, a digital wealth firm founded by ex-Google employees, as an external senior adviser and investor. Arta aims to democratize family office-style investing using AI, targeting accredited investors in the US and Singapore, with plans to expand into India. Hamers, who previously led ING through a digital transformation, is exploring various fintech projects while taking a measured approach to future executive roles.
In 2024, the analysis of residential property prices across 25 major cities indicates a further decline in bubble risk, with Miami now exhibiting the highest risk, followed closely by Tokyo. The Global Real Estate Bubble Index report offers insights into current trends and highlights cities such as Zurich, Frankfurt, Dubai, Singapore, and London.
On Wednesday, the SPI index in Zurich fell 0.20% to 16,099.50 points, marking a decline of 0.996% since the start of the week. The index has risen 10.50% year-to-date, with a high of 16,557.98 points and a low of 14,455.60 points recorded this year. Schlatter Industries and Rieter led the gains, while HOCHDORF and Evolva faced significant losses.
The SPI index on the Zurich Stock Exchange fell 0.18% to 16,103.02 points at midday, marking a weekly decline of 0.974%. Over the past year, the index has risen by 10.52%, with a current high of 16,557.98 points and a low of 14,455.60 points. Notable gainers include Schlatter Industries and Rieter, while HOCHDORF and Evolva are among the biggest losers.
UBS Group AG has retained less than half of Credit Suisse’s bankers in Germany following their merger, highlighting significant job losses. The reductions stem from a combination of cuts, early retirements, and voluntary departures, affecting a workforce that numbered 163 at the end of 2021.
Switzerland's financial landscape is bolstered by a landmark agreement with the UK, enhancing cross-border access for wholesale financial services. The Mutual Recognition Act, signed on December 21, 2023, allows firms to operate under their home regulations, fostering investor confidence and solidifying Switzerland's status as a global banking leader. As assets under management in the Swiss fund market surpass CHF1.5 trillion, both local and foreign interest in Swiss investment opportunities continues to grow.
UBS Group AG
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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