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UBS is facing pressure from Swiss regulators to increase capital reserves, prompting discussions about potentially relocating its headquarters. While the bank emphasizes its commitment to remaining in Switzerland, experts suggest that alternatives like Singapore are limited, and a move may not be financially viable for 10 to 15 years. The ongoing uncertainty is impacting UBS's share price, which has underperformed compared to its peers.
UBS's potential departure from Zurich poses a significant risk to the city's tax revenue and job market, as banks contribute nearly 40% of corporate taxes. Despite the challenges faced by the banking sector, tax contributions from banks have risen steadily since 2020, highlighting Zurich's ongoing dependence on its financial center. The city's efforts to diversify its economy have had limited success, with major tech companies like Google paying most taxes in their home countries.
UBS has maintained a "Buy" rating for RWE but reduced its price target from 46 to 42 euros, citing increased depreciation and financing costs. The analyst has also cut earnings forecasts for 2025-2028 by up to 10%. As of midday trading, RWE shares fell 0.5% to EUR 32.83, indicating a potential upside of 27.93% relative to the new target price.
UBS has secured approval to increase its stake in UBS Securities in China from 67% to 100% by acquiring the 33% held by Beijing State-owned Assets Management. This strategic move follows the takeover of Credit Suisse and aims to streamline its operations in China, where foreign banks are restricted from holding multiple licenses. Despite this development, UBS shares fell by 0.92% on the Swiss stock exchange.
UBS has become the sole shareholder of its Chinese subsidiary, enhancing its investment banking and wealth management services in the region. The China Securities Regulatory Commission approved UBS to retain a 14.99% stake in Credit Suisse Securities (China) Limited while selling a 36.01% stake to Beijing State-owned Assets Management.
Regula Berger has been elected Chairman of the Board of Directors of Banque Cler during the Annual General Meeting. She is also the CEO of Basler Kantonalbank (BKB) and takes over from Basil Heeb, who resigned as CEO of BKB last July.
UBS Group AG has received approval from Chinese authorities to acquire 100% of UBS Securities. The company operates through four main business segments: wealth management (49.4% of revenues), investment banking (22.1%), retail and corporate banking (18.8%), and asset management (6.4%). By the end of 2024, UBS managed USD 745.8 billion in deposits and USD 580 billion in loans.
UBS has acquired full control of UBS Securities in China by increasing its stake from 67% to 100%, purchasing the 33% share from the Beijing State-owned Assets Management. This strategic move follows the bank's takeover of Credit Suisse and aims to streamline its operations in China, where foreign banks are restricted from holding multiple securities licenses. UBS, which first entered the Chinese market in 2007, has progressively increased its ownership since gaining majority control in 2018.
UBS has received approval from the China Securities Regulatory Commission to become the sole shareholder of UBS Securities by acquiring the remaining 33% stake from Beijing State-owned Assets Management Co, raising its ownership to 100%. This move marks a significant milestone in UBS's strategy to expand its investment banking and wealth management services in China, allowing the firm to better engage with the country's financial market and wealth creation opportunities.
UBS has received regulatory approval to fully acquire its China securities joint venture. This move marks a significant step in the bank's expansion within the Chinese financial market, allowing it to operate independently in the region.
CHE
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