{
}
Natalia Ferrara, Vice President of the Swiss Bank Employees Association, criticizes the PUK report regarding UBS's withdrawal, asserting that the collapse of Credit Suisse stemmed from inadequate enforcement of existing rules rather than a lack of regulations. She expresses dissatisfaction with the report, echoing sentiments from former Credit Suisse employees.
Natalia Ferrara, Vice President of the Swiss Bank Employees Association, criticizes the PUK report on Credit Suisse's downfall, stating it fails to assign clear responsibility and lacks actionable lessons. She emphasizes the importance of UBS for the Swiss financial sector and warns against negligent theories regarding its necessity, highlighting the potential job losses and the need for effective regulation and enforcement. As UBS integrates with Credit Suisse, challenges remain, particularly for older employees facing redundancy.
The Swiss Bank Employees Association has criticized the PUK report regarding UBS's withdrawal, labeling its conclusions as "negligent." Vice President Natalia Ferrara emphasized that the downfall of Credit Suisse stemmed not from a lack of regulations, but from inadequate enforcement of existing rules.
The debate over UBS's role in the Swiss economy intensifies, with some economists arguing it is not irreplaceable, while others emphasize its significance for local businesses. The Federal Council's recent actions have raised concerns about increased dependence on UBS, which some view as a geopolitical risk. Meanwhile, foreign banks are expanding their presence, sensing an opportunity as UBS faces stricter capital requirements and potential relocation discussions.
Natalia Ferrara, vice president of the Swiss Association of Bank Employees (ASIB), emphasizes the need for a large global bank in Switzerland, criticizing regulatory failures following Credit Suisse's collapse. ASIB calls for greater accountability for top managers, stronger supervision from FINMA, and concrete measures to ensure the stability of the banking sector and protect workers. The organization argues that the focus should be on upholding Swiss values rather than merely residency requirements for UBS board members.
Swiss banks face significant job cuts as they announce annual results for 2024. Julius Baer has already revealed 400 layoffs, while UBS is set to cut around 3,000 jobs due to the integration of Credit Suisse. Employees express exhaustion and uncertainty amid restructuring, despite UBS projecting a profit exceeding four billion dollars for the year.
Swiss banks, including Julius Baer and UBS, are set to announce their annual results for 2024, with job cuts anticipated, particularly at Julius Baer due to high costs. UBS is expected to eliminate around 3,000 positions as it integrates Credit Suisse, leaving employees in a state of uncertainty and exhaustion. The financial sector faces challenges as it navigates the aftermath of the CS demise, with questions about the effectiveness of new client advisors and the potential for further layoffs.
Natalia Ferrara, vice president of the Swiss Bank Employees Association, has called for the criminal prosecution of Credit Suisse's top management following a report on the bank's bankruptcy. She criticized the Federal Financial Market Supervisory Authority (Finma) for failing to fulfill its supervisory role, suggesting that its concessions since 2017 obscured the bank's instability. Ferrara also demanded the resignation of Finma's president, emphasizing the need for accountability in light of the mismanagement.
The Parliamentary Commission of Inquiry's report on the Credit Suisse crisis has sparked varied reactions, with calls for the resignation of FINMA chairwoman Marlene Amstad and criticism of the bank's management for strategic failures. The Swiss National Bank plans to strengthen regulations, while UBS expresses cautious support for government proposals to enhance financial stability.
The Bank Staff Association is demanding the resignation of Finma President Marlene Amstad ahead of the PUK report on Credit Suisse's collapse, criticizing supervisory authorities for failing to intervene earlier. They call for new accountability measures for top bank management and urge UBS to uphold Swiss values post-takeover. The anticipated PUK report is expected to scrutinize Finma's role in the bank's downfall.
Natalia Ferrara
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Bank staff association criticizes PUK report on UBS withdrawal and enforcement issues
08:13 19.03.2025
bank staff association criticizes report on credit suisse downfall and UBS integration
Swiss Franc
Credit Suisse Strategic Income I
CHE
Daniel Zulauf
Marlene Amstad
Natalia Ferrara
Show more
06:00 19.03.2025
Bank staff association criticizes PUK report on UBS withdrawal and enforcement issues
05:00 19.03.2025
the debate on the necessity of UBS for the swiss economy
Nordea Bank Abp
SWE
CHE
FIN
Aymo Brunetti
Karin Keller-Sutter
Sergio Ermotti
Jean-philippe Kohler
Roman Studer
Adriel Jost
Natalia Ferrara
Show more
18:14 18.03.2025
call for accountability and stronger supervision in swiss banking sector
11:01 18.03.2025
Swiss banks face significant job cuts amid financial restructuring challenges
United States Dollar
Zürcher Kantonalbank
Vontobel Holding AG
Julius Bär Gruppe AG
CHE
Daniel Bosshard
Natalia Ferrara
Stefan Bollinger
Show more
11:34 03.02.2025
job cuts loom as swiss banks report challenging annual results
United States Dollar
Zürcher Kantonalbank
Vontobel Holding AG
Julius Bär Gruppe AG
CHE
Daniel Bosshard
Natalia Ferrara
Stefan Bollinger
Show more
00:02 03.02.2025
calls for criminal prosecution of credit suisse management after bankruptcy report
20:40 20.12.2024
credit suisse crisis report sparks calls for regulatory reforms and resignations
United States Dollar
Credit Suisse Real Estate Fund Siat
CHE
Marlene Amstad
Natalia Ferrara
Ueli Maurer
Show more
13:32 20.12.2024
Bank staff association demands resignation of Finma president amid Credit Suisse fallout
15:18 19.12.2024
Trending
Subcategory
Stock Market Updates
Corporate News
Industry Trends
Finance Mergers & Acquisitions
Banking Regulations
Global Financial Events
Market Analysis and Predictions
Retail and Consumer Goods
CEO Changes
Financial Scams and Security
Global Trade Developments
Central Bank Actions
GDP Growth & Recession Forecasts
Industry Mergers & Acquisitions
Government Policies
Hedge Funds & Private Equity
Inflation and Monetary Impact
Workplace Trends
Startups & Entrepreneurship
Government Economic Policies
Countries:
Companies:
The Goldman Sachs Group, Inc.
JPMorgan Chase & Co.
Tesla, Inc.
Apple Inc.
Bank of America Corporation
Wells Fargo & Company
Citigroup Inc.
Barclays PLC
Morgan Stanley
Deutsche Bank Money Market PP
Lloyds Banking Group plc
Huawei Technologies CO. Ltd.
American Express Company
Credit Suisse Strategic Income I
Berkshire Hathaway Inc.
UBS Group AG
AMERICAN EXPRESS
Northern Trust Corporation
Amazon.com, Inc.
Banco Santander, S.A.
Currencies:
United States Dollar
Euro
Chinese Yuan
British Pound Sterling
Swiss Franc
Indian Rupee
Japanese Yen
Canadian Dollar
Australian Dollar
Russian Ruble
Mexican Peso
Saudi Riyal
United Arab Emirates Dirham
Indonesian Rupiah
Hong Kong Dollar
Danish Krone
Offshore Chinese Yuan
Singapore Dollar
Ghanaian Cedi
South Korean Won
People: