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Dado Ruvic - 1 David Knox - 1 Mercer - 1 Carolyn Cohn - 1 Alexander Smith - 1
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4 mentions found


☆ AI should cut pensions costs, highlight risks - report
  + stars: | 2023-10-17 | by ( ) www.reuters.com   time to read: +1 min
Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON, Oct 17 (Reuters) - Artificial intelligence should improve pensions performance by cutting costs and highlighting upcoming risks, the Mercer CFA Institute's global pensions report said on Tuesday, with the Netherlands in top spot in this year's index. Additional uses for AI could include building customised portfolios and identifying market anomalies, although AI was unlikely to be able to predict market movements with accuracy so uncertainty will remain, the report said. Iceland came second and Denmark third in the 2023 index. Reporting by Carolyn Cohn; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.
Persons: Dado Ruvic, David Knox, Mercer, Carolyn Cohn, Alexander Smith Organizations: REUTERS, Mercer CFA, Mercer, CFA Institute, Monash Centre, Financial Studies, Denmark, Thomson Locations: Netherlands, Iceland
☆ 'The first bank crisis of the Twitter generation': The pressure on banks is very different from 2008
  + stars: | 2023-03-27 | by ( Hannah Ward-Glenton | ) www.cnbc.com   time to read: +6 min
It is "unlikely" that European banks will undergo anything as serious as in 2008, according to economists. But a banking crisis today would look very different from 15 years ago thanks to social media, online banking, and huge shifts in regulation. This is "the first bank crisis of the Twitter generation," Paul Donovan, chief economist at UBS Global Wealth Management, told CNBC earlier this month, in reference to the collapse of Credit Suisse . watch nowRegulators shuttered Silicon Valley Bank on March 10 in what was the biggest U.S. bank collapse since the global financial crisis in 2008. Risk in the banking system today is significantly less than it has been at any time over the last 20 or 30 years.
☆ Analysis: Credit Suisse collapse threatens Switzerland's wealth management crown
  + stars: | 2023-03-22 | by ( John Revill | ) www.reuters.com   time to read: +6 min
[1/3] Logos of Swiss banks UBS and Credit Suisse are seen in Zurich, Switzerland March 20, 2023. Switzerland's credibility as a stable, predictable country had been upended by moves like the decision to wipe out the holdings of Credit Suisse bondholders, he said. Under the takeover deal, holders of Credit Suisse AT1 bonds will get nothing, while shareholders, who usually rank below bondholders in compensation terms, will receive $3.23 billion. "In that sense I also see a prosperous future for the financial centre because we have hundreds of very well capitalised banks and very successful wealth management and asset management banks." Reuters Graphics Reuters GraphicsReuters GraphicsOthers were more skeptical about the future, highlighting a reluctance to confront mistakes at Credit Suisse or take responsibility for the aftermath.
☆ Swiss lawmakers tell Credit Suisse to clean up its act, seek to ringfence crisis
  + stars: | 2023-03-17 | by ( Alexandra Hudson Tom Sims | Alexandra Hudson | Tom Sims | ) www.reuters.com   time to read: +5 min
The Swiss cabinet held an emergency meeting about the central bank's move on Thursday but gave no public statement after, with most politicians, including Finance Minister Karin Keller-Sutter, tight-lipped. Greens lawmaker Gerhard Andrey said managers should take responsibility and Switzerland should look at its regulations, with the Credit Suisse debacle putting the country "in a very difficult situation". That Credit Suisse has problems has been known for a long time," said Martin Staub speaking in central Zurich. The financial sector makes up about 9% of Swiss gross domestic product, according to Finance Swiss, and employs 5.5% of the workforce. "The Credit Suisse crisis is negative for Switzerland, but not enough to damage the reputation of Switzerland on its own.
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