72 articles found within the last year.
Displaying results 1 - 20
-
UBS sets targets, warns no quick fixes
UBS chief executive Oswald Gruebel today asked investors ... "We are on track, we have stabilized UBs' ... Gruebel said UBS targets roughly Sfr15bn (€9.9bn) in ... UBS also targets a cost-income ratio of 65%-70% ... Bank Sarasin analyst Rainer Skierka lauded the targets...
-
Swiss Banque Heritage Sees Gains From Foreign Expansion
Geneva-based Banque Heritage is among the latest of ... The family-controlled private bank said Monday that the ... The hiring spree is an effort by the ... "Given the flood of new regulation, being a ... Smaller private banks in Switzerland are scrambling to ... In cautiously expanding, Banque Heritage hopes to join...
-
Swiss regulator won't cap bank, insurer bonuses
Swiss banks and insurers will have to ensure ... New regulations that come into effect on January ... The publication of the new guidelines follows months ... Though only one Swiss bank, UBS, needed to ... The regulator said it "didn't accede to the ... Under the new regulation, bonuses must be treated...
-
Recovery at UBS: work in progress
For a bank which hoped all the bad ... The penalty, the FSA’s third largest, was for ... Despite a slew of accounting items that contributed ... Even the sceptics admit the bank has come ... Now, downsized, derisked and out of government control, ... Speaking to Financial News last week, chief financial...
-
Debt defaults hit record but expected to slow
Default rates of low quality debt at European ... Rating agency Standard & Poor’s expected the number ... The figure, which followed the agency’s last reported ... The research tracks companies in the EU, Norway, ... The aggregate outstanding debt held by the 81 ... The acceleration in defaults followed the collapse of...
-
Secrecy Hit, Swiss Banks Are Losing Europeans
While the spotlight has been on the aggressive ... Americans have made up no more than 5% ... Nonresident, or offshore, clients make up about a ... This weekend, Swiss banking giant UBS AG will ... Now, in the wake of the American crackdown, ... "It's a big mistake to say this is...
-
Swiss mortgages build on firm foundations
The Swiss franc’s appreciation may be strangling some ... In the first six months of this year, ... So, even though Swiss GDP dropped in the ... In Hungary, however, where foreign currency mortgages account ... Back here in Switzerland, the growth of the ... The Swiss example is unique for several reasons....
-
Credit Suisse moves to meet G20 pay standards
Credit Suisse has become the first big bank ... Seven thousand managing directors and directors across Credit ... Credit Suisse chief executive Brady Dougan said the ... The new pay structure is designed to comply ... Credit Suisse last year pushed the boundaries on ... The new pay structure, which will be in...
-
Swiss private banks expect merger activity
A merger boom in on the cards in ... Only 14% of the 30 leading Swiss private ... Nearly three-quarters of respondents believe the Swiss private ... Less than a third believe Swiss domestic private ... Almost 90% expect intensifying competition. This brings the ... Current challenges will lead to greater consolidation, according...
-
Emea chief quits UBS Global Asset Management
UBS Global Asset Management has parted company with ... Herrera is leaving as part of a restructuring ... Herrera became SBC's global head of product development ... Writing in an internal memo seen by Financial ... Securing a good working relationship between its asset ... Fraser has decided that Andreas Schlatter, his head...
-
Swiss bank takes liquid path in latest fund venture
Asset manager Union Bancaire Privee has launched its ... The Swiss firm has partnered with US hedge ... UBP hopes to raise up to $500m (€340m) ... Mark Kurland, general partner at New Castle, said ... John Donohoe, chief executive of hedge fund business ... The CHF81bn (€54bn) asset manager decided to request...
-
UBS board members to leave bank
UBS on Tuesday said that board members Sergio ... UBS said that Marchionne, who is also Fiat's ... UBS's next annual general meeting is scheduled April ... Analysts said the two managers' resignation was partly ... Marchionne, a 57-year-old Canadian and Italian citizen, was...
-
Alpine bourses face uphill struggle for independence
Nestled together at the heart of Europe, Austria ... Their biggest cities – Vienna and Zurich – ... But these similarities do not extend to financial ... The market capitalisation of Switzerland’s bourse, SIX Swiss ... But the Austrian and Swiss bourses have one ... • SIX Swiss Exchange: Katz targets international traders...
-
The hills are alive… with luxury properties
Super-luxury property developments are taking root across the ... A development of two and three-bedroom luxury apartments ... The €225m Du Parc project will involve the ... The project has 60% backing from Switzerland’s fourth-largest ... Nearby in Vevey, a six-bedroom lakeside manor in...
-
Switzerland prime property booms as wealthy move in
There is a well-worn legend that a labyrinth ... Switzerland’s 26 cantons are attracting more high net ... Zurich and Geneva score high in surveys that ... Nicholas Barnes, director of London-based independent property consultant ... “Prime property prices have actually increased 5% every...
-
Credit Suisse Voices Confidence on Private Banking Growth
Credit Suisse Group said Tuesday it was confident ... The Zurich-based bank said it aims to keep ... "Some of our competitors have obviously been hurt, ... Swiss banks have long prospered by managing offshore ... While boutiques without any investment banking or trading...
-
Italian, Swiss banks vie for tax-amnesty spoils
As much as 100 billion euros ($146 billion) ... Italy on Tuesday launched its third tax amnesty ... Italians hide an estimated 600 billion euros in ... This time, with tax cheats spooked by the ... "The Italian amnesty is much more favorable to ... During past Italian tax amnesties, investors were allowed...
-
UBS probed for possible disclosure breaches
The Swiss bourse said on Friday it has ... The investigation, which UBS declined to comment on, ... The bourse is scrutinising potential breaches in disclosure ... Top executives were ousted during the period including ... In the past, other bourse probes of Swiss ... In April of last year, Basel-based Lonza Holding...
-
Hedgie claims 'lazy' London needs a rethink
A hedge fund manager who relocated from London ... Karsten Schroeder said London remains a key financial ... However, he said: "At the start of last ... The answer was 'no' and by December, Amplitude, ... Financial News reported in February that at least ... Higher rates for personal tax in the UK,...
-
Switzerland Named Most Competitive Economy, Topping US
Switzerland has moved up to replace the U.S. ... The Global Competitiveness Index, or GCI, is produced ... The GCI's headline findings for 2009-10 showed the ... Trust in U.S. banks fell to 108th position ... That loss of competitiveness could prove another obstacle ... Economists said the U.S. still won marks for...
