{
Gerhard Andrey

People

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politicians resist UBS influence while pushing for increased bank capital requirements

Socialist Roger Nordmann and Finance Minister Karin Keller-Sutter emphasize the need for political unity against UBS's influence, advocating for increased equity capital for the bank. While parliament supports this move, concerns arise about potential cost implications for customers, with regional banks poised to benefit if UBS raises prices. The Federal Council backs the capital requirement, asserting it won't necessarily lead to higher costs for Swiss credit operations.
Blick
PostFinance Fonds 3 Credit Suisse Strategic Income I Zürcher Kantonalbank Raiffeisenfonds-Wachstum T DEU CHE Urs Rohner Roger Nordmann Daniela Schneeberger Karin Keller-Sutter Axel Weber Gerhard Andrey Alfred Heer Show more
Politics & Governance, News Article
21:44 19.03.2025

parliament approves measures for systemically important banks amid ongoing debates

The Swiss Parliament has approved measures for systemically important banks, particularly UBS, following the Credit Suisse crisis. While there is broad support for the proposals, significant differences remain between political factions regarding stricter capital requirements and UBS's recent decision to delay its net zero target. Further legislative actions are anticipated as the need for tighter regulations persists.
Nau
CHE Gerhard Andrey Thomas Matter
Politics & Governance, News Article
15:55 18.03.2025

Swiss banking reforms strengthen oversight after Credit Suisse crisis and UBS takeover

Following the takeover of Credit Suisse, Swiss authorities have approved reforms to strengthen banking supervision and enhance FINMA's powers over systemically important institutions like UBS. The reforms include tighter "too big to fail" rules and increased capital requirements, aiming to prevent future financial crises. The Parliamentary Commission of Inquiry has called for lessons learned from the CS crisis to be implemented internationally, emphasizing the need for accountability and better management practices in large banks.
Finanztrends
Swiss Franc United States Dollar PostFinance Fonds 3 Credit Suisse Strategic Income I Zürcher Kantonalbank Raiffeisenfonds-Wachstum T CHE Alfred Heer Gerhard Andrey Daniela Schneeberger Jürg Grossen Leo Müller Karin Keller-Sutter Céline Widmer Show more
Politics & Governance, Market Report
14:41 18.03.2025

Swiss National Council endorses PUK report on Credit Suisse crisis reforms

The National Council has unanimously praised the PUK report on the Credit Suisse crisis, adopting all motions aimed at reforming "too big to fail" rules and enhancing the assertiveness of FINMA. The PUK's findings highlighted mismanagement at CS and called for stronger capital requirements for systemically important banks. Federal President Karin Keller-Sutter acknowledged the PUK's work, noting that some proposals are already being implemented.
Schweizer Radio und Fernsehen (SRF)
Swiss Franc PostFinance Fonds 3 Credit Suisse Strategic Income I Zürcher Kantonalbank Raiffeisenfonds-Wachstum T CHE Daniela Schneeberger Alfred Heer Céline Widmer Karin Keller-Sutter Jürg Grossen Leo Müller Franziska Ryser Gerhard Andrey Show more
Politics & Governance, Transcript
13:37 18.03.2025

Swiss Parliament Endorses PUK Report on Credit Suisse Crisis and Banking Reforms

The National Council has unanimously praised the PUK report on the Credit Suisse crisis, adopting all motions to strengthen regulations for systemically important banks. Key proposals include amending "too big to fail" rules, enhancing FINMA's enforcement powers, and ensuring the resolvability of major banks to prevent future crises. The Federal Council is set to implement several of these recommendations.
Finanz und Wirtschaft
PostFinance Fonds 3 Credit Suisse Strategic Income I Zürcher Kantonalbank Raiffeisenfonds-Wachstum T CHE Alfred Heer Gerhard Andrey Daniela Schneeberger Jürg Grossen Leo Müller Karin Keller-Sutter Céline Widmer Show more
Politics & Governance, Transcript
11:55 18.03.2025

lawmakers call for limits on excessive bank executive salaries

Pierre-Yves Maillard, head of the Swiss Trade Union Confederation, criticized UBS CEO Sergio Ermotti's CHF 14.93 million salary, calling it excessive and disconnected from the realities faced by most people. While some parliamentarians support capping salaries in the banking sector, others argue against intervention in the free market, emphasizing the need for shareholder influence on compensation policies. The Council of States has proposed stricter remuneration rules for systemically important banks, with a motion to limit salaries to CHF 3-5 million awaiting consideration by the National Council.
blue News
Swiss Franc Credit Suisse Strategic Income I CHE Beat Walti Thomas Stettler Sergio Ermotti Pierre-Yves Maillard Gerhard Andrey Jakob Stark Show more
Politics & Governance, News Article
19:51 17.03.2025

ubs ceo sergio ermotti earns 14.9 million amid salary cap discussions

UBS CEO Sergio Ermotti earned 14.9 million francs in 2024, maintaining a similar salary to the previous year despite only nine months in the role. His compensation, which includes a fixed salary of 2.8 million and a variable portion of 12.1 million, has sparked outrage among some Swiss parliamentarians, who question the justification for such high earnings, especially given UBS's state support. The Council of States is considering a cap on banking sector salaries, while UBS defends its pay structure as aligned with performance and risk management.
laRegione
Swiss Franc Credit Suisse Strategic Income I CHE Beat Walti Colm Kelleher Thomas Stettler Sergio Ermotti Pierre-Yves Maillard Gerhard Andrey Jakob Stark Show more
Finance & Economy, News Article
18:08 17.03.2025

parliamentarians express outrage over high salary of UBS CEO Ermotti

Parliamentarians have expressed shock at UBS CEO Ermotti's salary of CHF 14.9 million, with calls for limits on executive pay, particularly in light of UBS's state-backed status. Critics argue such high compensation is unjustifiable, while some defend it as performance-related and necessary for attracting talent. A motion to cap banking sector salaries at 3-5 million francs is set for discussion in the National Council.
Plattform J
Swiss Franc Credit Suisse Strategic Income I CHE Beat Walti Thomas Stettler Pierre-Yves Maillard Gerhard Andrey Jakob Stark Show more
Finance & Economy, News Article
17:15 17.03.2025

ubs intensifies lobbying to avoid stricter regulations after credit suisse crisis

UBS has intensified lobbying efforts to prevent new regulations following the Credit Suisse crisis, with significant donations to conservative parties raising concerns. The SP calls for a ban on party funding from UBS, arguing that it undermines regulatory independence and accountability. The PUK report highlights how bank lobbying contributed to regulatory fatigue, impacting the effectiveness of FINMA.
Tages-Anzeiger
Swiss Franc Credit Suisse Real Estate Fund Siat CHE Céline Widmer Gerhard Andrey Gerhard Pfister Anny Klawa-Morf Jürg Grossen Thomas Matter Sergio Ermotti Show more
Regulatory & Legal, News Article
00:00 22.12.2024

parties react to credit suisse debacle with calls for accountability and reform

The PUK's report on the Credit Suisse crisis has sparked varied reactions from political parties, highlighting mismanagement by bank leaders and calling for stricter regulations. The FDP praises its Federal Councillor for crisis management, while the SP demands a ban on bonuses for UBS managers and compensation for taxpayers. The Greens and Center Party echo calls for enhanced oversight and accountability in the banking sector.
Zofinger Tagblatt
Swiss Franc United States Dollar Credit Suisse Real Estate Fund Siat CHE Gerhard Andrey Cédric Wermuth Isabelle Chassot Thomas Aeschi Marlene Amstad Karin Keller-Sutter Jürg Grossen Ueli Maurer Show more
Finance & Economy, News Article
15:16 20.12.2024
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