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the future of banking balancing ai innovation and traditional finance challenges

The collapse of Credit Suisse highlighted significant failures in management and risk assessment, emphasizing the need for better bank supervision. While concerns about UBS's size persist, the financial sector remains crucial to Switzerland's economy, benefiting from foreign assets and lower interest rates. The rise of AI in banking is expected to enhance risk monitoring but may also lead to job losses, as younger generations increasingly prefer AI-driven financial advice.

switzerland's national bank faces pressure to embrace bitcoin investment strategy

Switzerland's National Bank (SNB) faces pressure to invest in Bitcoin as part of a popular initiative advocating for constitutional changes to enhance financial sovereignty. Despite past rejections, the growing influence of Bitcoin advocates, including billionaires, suggests a potential shift in the SNB's stance amid rising global interest in cryptocurrencies. The canton of Zug, dubbed "Crypto Valley," continues to thrive as a hub for digital currency investment, attracting both private banks and wealthy investors.

Christian Mumenthaler appointed President of UBS Center amid controversy

Christian Mumenthaler, recently ousted as CEO of Swiss Re, will take over as President of the UBS Center for Economics in Society at the University of Zurich in 2025, succeeding Kaspar Villiger. His appointment raises eyebrows due to his poor track record at Swiss Re, where he failed to maintain competitiveness against Munich Re and faced criticism for his leadership style, including a lack of accountability and controversial decisions at the Geneva Association.
08:31 27.11.2024

ubs center announces leadership change with christian mumenthaler as new president

The UBS Center for Economics in Society at the University of Zurich will see a leadership change as Kaspar Villiger steps down as Chairman of the Foundation Board, with Christian Mumenthaler, former Group CEO of Swiss Re, set to succeed him. Villiger, who played a pivotal role in establishing the center in 2012 through a significant donation from UBS, is praised for his exceptional leadership and commitment to fostering collaboration between science, business, and politics. UBS reaffirmed its support with an additional CHF 27 million donation in 2020 to ensure the center's continued development.
09:44 26.11.2024
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