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The logo of Swiss private bank Julius Baer is seen at their headquarters in Zurich, Switzerland February 2, 2022. "The strength of the Swiss banks, of the Swiss economy, of the Swiss political system ... I think this is the foundation to be the preeminent number one financial place for cross border wealth management," he told the event. "Everyone is and wants to be in wealth management and everyone sticks to it, even those players who are not as efficient, not as effective as others." He declined to comment on speculation linking Julius Baer with Swiss bank EFG International (EFGN.S).

Persons: Julius Baer, Arnd, Julius Baer's, Philipp Rickenbacher, Rickenbacher, Noele Illien, John Revill, Tomasz Janowski Organizations: REUTERS, Rights, Reuters, UBS, Credit Suisse, Swiss, EFG, Thomson Locations: Zurich, Switzerland, Swiss, United States

[1/2] The logo of Credit Suisse is pictured in front of the Swiss Parliament Building, in Bern, Switzerland, March 19, 2023. REUTERS/Denis Balibouse//File PhotoBERN, July 13 (Reuters) - A Swiss parliamentary investigation into the role played by state institutions in the collapse and emergency rescue of Switzerland's second biggest lender Credit Suisse will take 12 to 14 months to complete, its president said on Thursday. The investigation committee is Swiss lawmakers' most powerful tool and this is only the fifth time such a parliamentary probe has been launched. It will also examine the role played by financial regulator FINMA as well as the Swiss National Bank. UBS (UBSG.S) agreed to buy Credit Suisse for 3 billion Swiss francs ($3.48 billion) in March after panicked customers withdrew cash from their accounts at the stricken lender.

Persons: Denis Balibouse, Isabelle Chassot, Noele Illien, John Revill, David Evans, Alexandra Hudson Organizations: Credit Suisse, Swiss, REUTERS, Suisse, Swiss National Bank, UBS, Alexandra Hudson Our, Thomson Locations: Bern, Switzerland, BERN, Swiss, Die Mitte, Zurich

The lower house retrospectively rejected the rescue near midnight, with heated debates continuing into the early hours of Wednesday morning as members discussed other measures related to Credit Suisse. Earlier on Tuesday, Switzerland's upper house had approved the rescue, meaning the two chambers of the legislative body will vote again on Wednesday. A poll of Swiss economists found that nearly half thought the takeover of Credit Suisse by UBS was not the best solution, warning the saga had dented Switzerland's reputation. Politicians also questioned why the Swiss financial regulator was unable to prevent Credit Suisse's failure. There are also growing worries about jobs and in an open letter to parliament, the Swiss Bank Employees' Association said that Credit Suisse and UBS must freeze any cuts.

SummarySummary Companies Swiss upper house approved Credit Suisse rescueFrustration in Switzerland over use of state fundsLawmakers have protested, but cannot overturn dealBERN, April 11 (Reuters) - Switzerland's upper house of parliament voted on Tuesday after a heated debate to approve retrospectively the 109 billion Swiss francs ($120.5 billion) in financial guarantees used to rescue Credit Suisse (CSGN.S) last month. But 29 of Switzerland's 46-member Council of States upper house approved the measure. "The use of emergency law has reached a level in the last three years that is beginning to annoy me," Hansjoerg Knecht, a member of Parliament's upper house, said. Politicians also questioned why the Swiss financial regulator was unable to prevent Credit Suisse's failure. Eva Herzog asked during a speech to the upper house.

SummarySummary Companies Swiss upper house lawmakers approve Credit Suisse rescueFrustration in Switzerland over use of state fundsLawmakers have protested but cannot overturn dealBERN, April 11 (Reuters) - Switzerland's upper house of parliament voted on Tuesday to retrospectively approve 109 billion Swiss francs ($120.5 billion) in financial guarantees used to rescue Credit Suisse (CSGN.S) after a heated debate. The Swiss parliament had recalled lawmakers for a rare extraordinary session to discuss the rapid rescue of Credit Suisse as well as the government's open chequebook response. A shotgun marriage which saw Credit Suisse taken over by Zurich-based rival UBS (UBSG.S) for 3 billion Swiss francs and propped up with more than 250 billion Swiss francs in guarantees and support has been the subject of widespread criticism. "The use of emergency law has reached a level in the last three years that is beginning to annoy me," said Hansjoerg Knecht, a member of Parliament's upper house. In an open letter to the country's parliament, the Swiss Bank Employees' Association said on Tuesday that Credit Suisse and UBS must freeze any job cuts.

On Tuesday, they will meet in Bern for an extraordinary session to discuss Credit Suisse's downfall as well as the government's open chequebook response. In Tuesday's session, lawmakers will get a chance to challenge the rushed rescue package and discuss whether conditions can be imposed on Credit Suisse. Last week, Switzerland announced it was cutting bonus payments for Credit Suisse's top management. Credit Suisse's rescue angered not only politicians but many in Switzerland. In an open letter to the country's parliament, the Swiss Bank Employees' Association said on Tuesday that Credit Suisse and UBS must freeze any job cuts.

March 15 (Reuters) - Swiss regulators pledged a liquidity lifeline to Credit Suisse (CSGN.S) in an unprecedented move by a central bank after the flagship Swiss lender's shares tumbled as much as 30% on Wednesday. They said the bank could access liquidity from the central bank if needed. Credit Suisse said it welcomed the statement of support from the Swiss National Bank and FINMA. Hoping to quell concerns, FINMA and the Swiss central bank said there were no indications of a direct risk of contagion for Swiss institutions from U.S. banking market turmoil. The logo of Swiss bank Credit Suisse is seen in front of an office building in Zurich, Switzerland October 26, 2022.

ZURICH/FRANKFURT, March 15 (Reuters) - Swiss financial regulator FINMA and the nation's central bank said on Wednesday that the Swiss National Bank would provide Credit Suisse (CSGN.S) liquidity "if necessary", a first for a global bank since the financial crisis. The two institutions said in a joint statement that Credit Suisse "meets the capital and liquidity requirements imposed on systemically important banks". Governments and at least one bank were putting pressure on Switzerland to act, said people familiar with the matter. Shares in Credit Suisse, which is battling to recover from a string of scandals that have undermined the confidence of investors and clients, lost nearly a quarter of their value on Wednesday. The stock, which was worth around 80 Swiss francs in 2008 plunged to 1.55 Swiss francs on Wednesday.

During the three months to the end of September, Geberit sales fell 7.5% to 790.7 million Swiss francs ($788.33 million). The company, seen as a proxy for the broader construction sector, also said it now expected a full-year core operating profit margin of around 27%, down from its August view of 28%. It also tweaked its sales outlook lower, now expecting growth in the mid to high single-digit percentage range, down from its previous outlook for a high single-digit increase. "This prudent outlook is shaped by the prevailing high macroeconomic uncertainties," Geberit said. ($1 = 1.0037 Swiss francs)Reporting by Noele Illien; editing by John Revill and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

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