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Ermotti - 1 Sergio Ermotti - 1 Denis Balibouse - 1 Jefferies - 1 Brenna Hughes - 1 John O'Donnell - 1 Noele - 1 Edwina Gibbs - 1
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Search resuls for: "Noele Illien Oliver Hirt"


3 mentions found


☆ UBS targets $10 bln in costs, to cut 3,000 jobs after Credit Suisse takeover
  + stars: | 2023-08-31 | by ( Noele Illien Oliver Hirt | Noele Illien | Oliver Hirt | ) www.reuters.com   time to read: +6 min
In a memo to staff Ermotti said that 3,000 Swiss jobs would go, while more people would leave of their own accord, for example, through retirement. With a market value of 77 billion Swiss francs, UBS also struck an optimistic note about its short-term outlook. With Credit Suisse in Switzerland intact and independent, as some politicians had hoped, fewer jobs would have been hit. [1/2]Logos of Swiss banks Credit Suisse and UBS are seen before a news conference in Zurich Switzerland, August 30, 2023. Reuters GraphicsThe bumper profit results from a huge one-off gain that reflects how the acquisition costs were far below Credit Suisse's value.
Persons: Ermotti, Sergio Ermotti, Denis Balibouse, Jefferies, Brenna Hughes, John O'Donnell, Noele, Edwina Gibbs, Tomasz Janowski, Alexander Smith Organizations: UBS, Credit Suisse Swiss, Credit Suisse, UBS grapples, REUTERS, Swiss Bank Employees Association, Analysts, Deutsche Bank, Reuters, Credit, Thomson Locations: Switzerland, ZURICH, Swiss, Zurich Switzerland, Zurich, London
☆ Credit Suisse delays annual report after last-minute call from SEC
  + stars: | 2023-03-09 | by ( Noele Illien Oliver Hirt | Noele Illien | Oliver Hirt | ) www.reuters.com   time to read: +2 min
ZURICH, March 9 (Reuters) - Credit Suisse has postponed publication of its annual report after a last-minute call from the United States Securities and Exchange Commission (SEC), which raised questions about its earlier financial statements. Credit Suisse said it had then decided to postpone publication of the annual report. It is unclear when the 2022 annual report will be released. Credit Suisse shares were indicated 3.2% lower in pre market activity in Zurich. Among a string of scandals, Credit Suisse was hard hit by the collapse of U.S. investment firm Archegos in 2021 as well as the freezing of billions of supply chain finance funds linked to insolvent British financier Greensill.
☆ Credit Suisse warns of more losses after sliding deep into the red
  + stars: | 2023-02-09 | by ( Noele Illien Oliver Hirt | Noele Illien | Oliver Hirt | ) www.reuters.com   time to read: +4 min
For the fourth quarter, Switzerland's second-biggest bank posted a net loss of 1.39 billion francs. That brought its total net loss in 2022 to 7.29 billion francs, marking its second straight year in the red. The bank, however, completed a 4 billion Swiss franc fundraising in December and said liquidity levels had been boosted. Chief Executive Ulrich Koerner said last month that Credit Suisse was "seeing money now coming back in different parts of the firm." "We have a clear plan to create a new Credit Suisse and intend to continue to deliver on our three-year strategic transformation," Koerner said on Thursday.
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