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The Swiss financial regulator FINMA will regularly review its supervision of UBS as part of a broader regulatory overhaul aimed at strengthening the banking sector. Following the collapse of Credit Suisse, proposals for tighter regulations are being developed, with an announcement on supervisory tools expected in early 2025. UBS and other systemically important banks must enhance their contingency plans to ensure stability and avoid risks to taxpayers.
Andreas Akermann advises investors to prioritize low-cost products like ETFs and index funds for pillar 3a savings, emphasizing the importance of scrutinizing fees and performance. With over 200 options available, understanding the complex fee structures is crucial, as costs can significantly impact long-term returns. Recent trends show a shift towards cheaper investment products, but the variety can overwhelm customers, making informed choices essential for maximizing retirement savings.
The Cantonal Council will elect a new member to the Zürcher Kantonalbank (ZKB) Bank Council, with the SVP's York-Peter Meyer as the candidate following the resignation of Walter Schoch. Despite some reservations from other parties regarding his casual demeanor and past comments, the election is expected to proceed without significant opposition. The SVP will retain its seat, resulting in a new composition of the council.
Zürcher Kantonalbank is issuing a series 159 bond worth CHF 150 million, with an option to increase the amount. The bond features a 1.00% coupon, an issue price of 100.614%, and matures in 8 years on November 22, 2032, with a yield to maturity of 0.920%. It holds a top rating of Aaa/AAA/AAA and will be listed on SIX starting November 21, 2024.
Luzerner Kantonalbank has appointed Sybille Umiker as the new Head of Communications, effective March 1, 2025, succeeding Daniel von Arx, who has served for 29 years. Umiker brings extensive experience from her roles at Zürcher Kantonalbank and Emmi, and has been with Sustainserv since 2021, focusing on ESG strategies. Von Arx will transition to a Senior Communications Advisor role until his retirement in 2027.
Sibylle Umiker will assume the role of Head of Communications and Media Spokeswoman at Luzerner Kantonalbank (LUKB) starting March 1, 2025. With a strong background in media relations and strategic communications, she aims to enhance LUKB's communication strategy. Daniel von Arx, after nearly 30 years as a media spokesperson, will transition to Senior Communications Advisor until his retirement in 2027.
Luzerner Kantonalbank has appointed Sybille Umiker as the new Head of Communications, effective March 1, 2025, succeeding Daniel von Arx, who has served for 29 years. Umiker brings a wealth of experience from her previous roles in media relations and strategic communications, including her time at Zürcher Kantonalbank and Emmi. Until his retirement in 2027, Arx will transition to a Senior Communications Advisor role, focusing on strategic projects.
UBS shares surged 2.2% to CHF 29.09, outperforming analysts' expectations for the third quarter. While the bank remains cautious about its outlook, it successfully navigated the initial phase of integrating Credit Suisse's client accounts. Analysts maintain a "buy" recommendation, with a price target of CHF 31.
The Appenzeller Kantonalbank hosted its inaugural financial forum, featuring a discussion led by Thomas Brägger with financial experts Jens Korte and Simon Lustenberger. Around 100 attendees engaged in a dialogue about the U.S. economic landscape and its implications for Europe and Switzerland, followed by a networking reception for further discussion.
Last Tuesday, Appenzeller Kantonalbank hosted its inaugural Financial Forum, attracting around 100 guests, including customers and employees. Renowned journalist Jens Korte discussed the current U.S. economic landscape and its implications for Europe and Switzerland, followed by an engaging expert panel featuring Simon Lustenberger, moderated by Thomas Brägger. Participants actively engaged in discussions and networked during a drinks reception, gaining valuable insights into pressing economic issues.
Zürcher Kantonalbank
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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