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The Swiss Financial Market Supervisory Authority (FINMA) faces criticism for its handling of the Credit Suisse (CS) crisis, with a parliamentary inquiry revealing that CS management largely bears the blame for its risky strategies and scandals. Politicians are calling for increased regulation and capital requirements for UBS, which has taken over CS, amid concerns that the bank's high executive salaries and bonuses could lead to similar failures. The debate highlights the tension between maintaining a competitive banking environment and ensuring adequate oversight to prevent future crises.
The debate surrounding UBS's potential relocation is fueled by both bank lobbyists and critics, despite the complexities involved in such a move. UBS's management, under shareholder pressure, may be using threats of departure to influence regulatory leniency, but historical precedents suggest these threats lack credibility. Ultimately, UBS's reliance on Switzerland's stability, reputation, and strong currency underscores its commitment to remaining in the country.
In a recent debate, politicians discussed the need for increased regulation of major banks following the Credit Suisse crisis. SP Co-President Cédric Wermuth advocated for a salary cap of CHF 5 million for bank executives, arguing that state support justifies government intervention. However, UBS's Markus Ronner and SVP's Thomas Matter opposed the cap, emphasizing the importance of maintaining competitiveness and shareholder rights in the banking sector.
Two years after the collapse of Credit Suisse and its takeover by UBS, discussions are intensifying regarding the need for stricter regulations on systemically important banks. The Federal Council's announcement on March 19, 2023, has reignited calls for enhanced financial market supervision and oversight of banking practices.
UBS has resolved its securities activities in China by acquiring a 33% stake in the joint venture Beijing State-owned Assets Management (BSAM) from the Chinese state. In exchange, UBS sold a 36% stake of its 51% holding in CS Securities to a Chinese state-owned company, resulting in full ownership of BSAM. This strategic move underscores UBS's commitment to expanding its investment banking and wealth management presence in the crucial Asia-Pacific market.
UBS is considering a potential change of headquarters due to increased federal capital requirements, sparking discussions about its future in Switzerland. CEO Sergio Ermotti emphasized the importance of Swissness in the bank's strategy, indicating that various scenarios are being evaluated.
Interest rates have increased, putting pressure on profits for the six Raiffeisen banks in the Jura region, which saw a 6% decline in operating income from 2023 to 2024. Despite this, net profit remained stable compared to the previous year, aided by an increase in mortgage sales.
UBS shares fell 0.6% to CHF 28.14 in morning trading, marking a decline from a peak of CHF 28.05. The stock is currently 16.84% below its 52-week high of CHF 32.88 and 24.90% above its low of CHF 22.53. Analysts anticipate a dividend of USD 0.988 for 2025, with earnings per share expected to reach USD 2.09.
"Game Over" is a compelling film that chronicles the dramatic downfall of Credit Suisse, exploring the factors that led to the bank's collapse. This cinematic portrayal delves into the intricate details of the events surrounding its demise, offering insights into the banking industry's vulnerabilities.
UBS Global Wealth Management has lowered its S&P 500 target for 2025 to 6,400, reflecting a broader trend among Wall Street firms responding to the economic impact of U.S. tariffs. The firm also reduced its earnings per share estimate to $265, citing potential volatility in U.S. equity markets due to policy uncertainty. Despite these cuts, UBS maintains an optimistic outlook on U.S. equities, particularly in the information technology sector, driven by growth in artificial intelligence.
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