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UBS has begun migrating Credit Suisse clients to its platform, with initial tests in Hong Kong and Singapore proving successful. Over the coming quarters, approximately 1.3 million clients will be integrated, involving the transfer of vast amounts of data, while UBS plans to eliminate around 90% of Credit Suisse's applications and servers.
Emanuele Diquattro has been appointed as the next CEO of Inventx, a bank and insurance technology firm, effective January 1. He will join the company on November 1, succeeding Gregor Stücheli, who has been serving as interim CEO since Pascal Keller's departure in the summer.
UBS has begun integrating Credit Suisse's operations, successfully transferring initial client funds to its platform. Following tests with several hundred clients in Hong Kong and Singapore, around 1.3 million Credit Suisse clients are set to migrate over the coming quarters, with significant data integration planned. UBS will eliminate 90% of Credit Suisse's applications, having already deactivated 560 and 40,000 servers.
Arete Ethik Invest has appointed Martin Künzler as Chief Sales Switzerland to enhance its presence in the Swiss market. Künzler, who previously led the external asset managers team at Thurgauer Kantonalbank, brings valuable experience and a strong network to the role. The firm, focused on ethically sustainable investments for nearly three decades, aims to leverage his expertise for growth.
UBS has successfully begun migrating Credit Suisse clients to its platform, with initial tests involving several hundred clients from Hong Kong and Singapore yielding positive results. The integration, deemed the largest data migration in financial services, will see around 1.3 million clients transitioned over the coming quarters, while UBS plans to reduce its reliance on Credit Suisse applications significantly. The technology integration is on track, with UBS aiming to retain most of Credit Suisse's permanent employees in Group Operations and Technology.
The integration of Credit Suisse into UBS is progressing, with the first customer funds successfully transferred to UBS's platform. Approximately 1.3 million Credit Suisse clients are set to be migrated over the coming quarters, starting with those in Luxembourg and Hong Kong. UBS plans to deactivate 90% of Credit Suisse's applications, having already shut down 560 applications and 40,000 servers.
The Swiss market has shown resilience, with the SMI index rising by 0.93%. Among the top dividend stocks, Cembra Money Bank leads with a yield of 5.11%, while Berner Kantonalbank offers a stable 4.3% yield, supported by a low payout ratio. However, Meier Tobler Group's dividends face sustainability concerns due to high payout ratios and declining sales.
Lombard Odier's new venture in Zug aims for significant profits, but the current banking landscape, influenced by the fallout from Credit Suisse's failure, poses challenges for long-term success. Competitors in Central Switzerland are actively recruiting former Credit Suisse bankers, intensifying the competition.
Glarner Kantonalbank (GLKB) shares closed at EUR 22.90 on October 9, 2024, marking a 0.22% increase and a 2.00% gain over the past month, despite a 6.15% annual decline. The bank boasts a 4.80% dividend yield and a P/E ratio of 11.89, indicating solid financial health. A recent analysis suggests shareholders may need to consider their next steps.
Glarner Kantonalbank (GLKB) shares closed at EUR 22.90 on October 9, 2024, marking a 0.22% increase and a 2.00% gain over the past month, despite a 6.15% annual decline. The bank's solid financials include a 4.80% dividend yield and a P/E ratio of 11.89, indicating stability in a challenging market. Investors are urged to consider their options as new analyses suggest a need for action regarding their holdings.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
ubs begins migration of credit suisse clients to new platform
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09:00 10.10.2024
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credit suisse clients begin transition to ubs platform amid integration efforts
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credit suisse clients begin transition to ubs platform amid integration efforts
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