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UBS shares rose by 1.5% to CHF 27.27 in early trading, outperforming the SMI at 12,738 points. The stock's 52-week high is CHF 32.88, requiring a 20.57% increase to reach that level, while the 52-week low stands at CHF 22.53, indicating a potential downside of 17.38%. Analysts project earnings of USD 2.07 per share for 2025, with Q1 2025 results expected on April 30, 2025.
Swiss financial market regulator FINMA has restructured its organization to enhance supervision, particularly following UBS's acquisition of Credit Suisse. The changes include a new Chief Risk Officer role and a focus on integrated risk management to address challenges like liquidity, capital, and non-financial risks. Deputy CEO Birgit Rutishauser will leave by April 30 for a new career opportunity, a decision unrelated to the restructuring.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among European banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel received the largest raise, bringing his total to 13.2 million euros, while Deutsche Bank's Christian Sewing followed with 9.8 million euros. Other notable figures include Santander's Hector Grisi at 8.3 million euros and BBVA's Onur Genc at 7.3 million euros, with the lowest compensation reported at 2.6 million euros for Credit Agricole's Philippe Brassac.
Sergio Ermotti, CEO of UBS, topped the list of highest-paid CEOs among Europe's largest banks in 2024, earning 14.9 million Swiss francs. UniCredit's Andrea Orcel followed with a significant raise to 13.2 million euros, while Deutsche Bank's Christian Sewing earned 9.8 million euros. Many banks benefited from rising interest rates, leading to increased profits and higher compensation for executives.
The Swiss National Bank (SNB) has cautiously intervened in the foreign exchange market, purchasing around 100 million CHF in the fourth quarter and a total of 1.2 billion CHF last year to weaken the franc. Despite its willingness to act more decisively, the SNB remains wary of the risks associated with a large balance sheet and potential tariffs under the current U.S. administration. With the EUR/CHF rate rising, the SNB appears more comfortable with the franc's position than in the previous year.
Bruno Marxer, the global investment management head at UBS Global Wealth Management, will retire at the end of Q1 2026. Solita Marcelli, currently the chief investment officer for the Americas, will take over as global head of investment management on July 1, overseeing a portfolio of over $2 trillion in client assets across multiple regions. She will report to Mark Haefele and Yves-Alain Sommerhalder.
Also Holding AG shares surged over 7% after UBS Global Research initiated coverage with a "buy" rating, highlighting the company's position as the second-largest European IT distributor. The recent acquisition of Westcoast is expected to significantly boost sales and revenue growth, with projections of a 46% increase in FY25 driven by this consolidation and a favorable PC refresh cycle. UBS has set a price target of CHF 320 for the stock, anticipating continued margin improvements and cost optimization opportunities.
Marcuard Heritage has appointed Monica Dahinden, a former HR specialist at Credit Suisse, to its Board of Directors as part of its growth strategy focused on transformation and diversification. Dahinden brings over 20 years of HR experience in banking and will help the firm tap into new markets and attract younger clients. Founded in 2003, Marcuard Heritage is a leading independent asset manager managing nearly CHF 5 billion with offices in Zurich, Singapore, Abu Dhabi, and Limassol.
Major British banks, including Barclays, NatWest, Citibank, and JPMorgan, are taking a forex rigging case to the Supreme Court. In 2019, the European Commission found that these banks participated in FX spot trading cartels. A successful appeal could render the Court of Appeal's decision moot, jeopardizing the claim certification.
In the wake of the collapses of Credit Suisse and Silicon Valley Bank, the focus on capital ratios as a measure of bank stability is being challenged. While UBS faces calls for higher capital requirements, the real lesson is that liquidity, not capital, is crucial for survival in modern banking, especially amid rapid digital transactions and shifting market sentiments. The failures of these banks highlight that even with strong capital positions, a lack of liquidity preparedness can lead to catastrophic outcomes when confidence erodes.
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