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UBS will keep the Swiss business of Credit Suisse but will retire its brand. UBS says it plans to cut costs by $10 billion. UBS also announced at the end of August 2023 that money outflows have stopped at Credit Suisse. [76] UBS announced a record profit of nearly $30 billion in the second quarter of 2023 following the acquisition of Credit ...
UBS Group AG[nb 1] is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered simultaneously in Zürich and Basel, [9] it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS investment bankers and ...
After much speculation and concern about a banking crisis, UBS made its play for its stricken long-time Swiss rival late Sunday by agreeing to a $3.2 billion takeover of Credit Suisse .
On 19 March 2023, following negotiations with the Swiss government, UBS announced its intent to acquire Credit Suisse for $3.25 billion (CHF 3 billion) in order to prevent the bank's collapse. [13] [14] [15] UBS completed the acquisition in June 2023. [16]
Six of the top seven highest ranked companies to make the UBS list are from the U.S. They include Fortinet, a 24-year-old cybersecurity company that has grown explosively since Covid caused the ...
Zürich, Switzerland. Total assets. CHF416 billion (1996) [1] Number of employees. 29,100 (1996) [1] Union Bank of Switzerland (UBS) [a] was a Swiss investment bank and financial services company located in Switzerland. The bank, which at the time was the second largest bank in Switzerland, merged with Swiss Bank Corporation in 1998 to become UBS.
Draho outlined UBS's criteria to officially declare the 2020s a "Roaring ’20s": sustained GDP growth of 2.5% or higher, inflation in the 2-3% range, a Fed funds rate around 3.5%, and the 10-year ...
Sergio Ermotti. Sergio Pietro Ermotti (born 11 May 1960) is a Swiss manager and investment banker. [1] In April 2021, Ermotti was elected chairman of Swiss Re, one of the world's largest reinsurance companies, succeeding Walter Kielholz. He was the chief executive officer (CEO) of UBS Group AG from November 2011 to October 2020 and regained ...
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related to: ubs announcement date