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Top related persons:
Boss Sergio Ermotti - 1 Ralph Hamers - 1 UBS’s - 1 Ermotti - 1 it’s - 1 Sergio Ermotti - 1 Neil Unmack - 1 Streisand Neto - 1
Top related locs:
Suisse’s Swiss Switzerland Schweiz
Top related orgs:
Credit Suisse - 1 UBS - 1 Credit - 1 Suisse’s - 1 Suisse - 1 Swiss Competition - 1 Thomson - 1

Search resuls for: "Boss Sergio Ermotti"


4 mentions found


☆ UBS cost-cut gains are a double-edged sword
  + stars: | 2023-08-31 | by ( Liam Proud | ) www.reuters.com   time to read: +4 min
LONDON, Aug 31 (Reuters Breakingviews) - UBS’s (UBSG.S) acquisition of Credit Suisse looks increasingly good – maybe a little too good. There were three key questions for shareholders ahead of UBS’s delayed second-quarter results on Thursday, its first since completing the emergency rescue of Credit Suisse in June. And what would UBS do with Credit Suisse’s local business? He’s keeping Credit Suisse’s Swiss business, which allows him to establish a dominant position at home and wring out juicy cost savings. And while some Credit Suisse businesses are disappearing, Ermotti won’t mind.
Persons: Boss Sergio Ermotti, Ralph Hamers, UBS’s, Ermotti, it’s, Sergio Ermotti, Neil Unmack, Streisand Neto Organizations: Reuters, Credit Suisse, UBS, Credit, Suisse’s, Suisse, Swiss Competition, Thomson Locations: Suisse’s Swiss, Switzerland, Schweiz
☆ New UBS investor pitch fits better than old one
  + stars: | 2023-04-25 | by ( Liam Proud | ) www.reuters.com   time to read: +3 min
LONDON, April 25 (Reuters Breakingviews) - UBS’s (UBSG.S) old strategy under former CEO Ralph Hamers was safe but not particularly rewarding. True, the wealth business pulled in about $20 billion of new fee-paying assets in the first quarter. The revenue UBS generates in wealth management fell to 78 basis points of average fee-earning assets in the first quarter, from 82 basis points a year ago. The second Ermotti era, by contrast, at least offers the chance of some upside. UBS reckons it can eventually wring $8 billion of annual cost savings from the combination with Credit Suisse.
☆ Rivals can feast on Credit Suisse client spoils
  + stars: | 2023-04-17 | by ( Lisa Jucca | ) www.reuters.com   time to read: +4 min
Credit Suisse saw 110 billion Swiss francs flying out the door in the final quarter of 2022. These outflows were chiefly cash from wealthy clients and some deposits at Credit Suisse's Swiss bank unit. Those holding accounts at both Credit Suisse and UBS may dislike too much wealth concentration. And Credit Suisse is hardly incentivised to transfer securities swiftly. The minister said this was needed because Credit Suisse customers had again withdrawn money.
☆ Boomerang UBS boss ticks several important boxes
  + stars: | 2023-03-29 | by ( Liam Proud | ) www.reuters.com   time to read: +4 min
That’s the best explanation for why Chair Colm Kelleher on Wednesday said the Swiss bank was replacing CEO Ralph Hamers with erstwhile boss Sergio Ermotti. Though the move violates several corporate-governance red lines, it improves the group’s chances of successfully absorbing stricken rival Credit Suisse (CSGN.S). Nor was his hesitant delivery in a call with analysts after announcing the Credit Suisse deal. During his previous spell in charge, UBS held talks with Deutsche Bank (DBKGn.DE) and discussed a merger with Credit Suisse. Ermotti, a Swiss national, led the Swiss bank for nine years, departing in late 2020, and is currently chair of Swiss Re.
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