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The caller was UBS (UBS) chairman Colm Kelleher. “I was definitely not expecting the phone call,” Ermotti told CNN on the sidelines of a conference in Geneva last month. UBS paid 60% less than the beaten-down value of Credit Suisse shares just before its last-ditch rescue over a weekend. Even if Credit Suisse had none of that painful baggage, the sheer size of the two banks makes the merger an enormous undertaking. “The fact that UBS was asked to be part of the solution (to Credit Suisse), that was the ultimate success,” Ermotti told CNN.
Persons: Sergio Ermotti, Colm Kelleher, Ermotti, ” Ermotti, Anke Reingen, Roger Federer, , , Morgan Stanley, ” Kelleher, Michael Buholzer, it’s, Katrin Koch, Tom Naratil, , Merrill Lynch, Stefan Wermuth, Oswald Gruebel, ” Christopher Wheeler, Fabrice Coffrini, Organizations: Switzerland CNN, UBS, Credit Suisse, CNN, Bank of America, JPMorgan, HSBC, RBC Capital Markets, RBC, Ermotti’s, Banca, Citi, UBS —, Bloomberg, New York Times, Getty Locations: Geneva, Switzerland, Swiss, Zurich, Lugano, Singapore, Europe, Middle East, Africa, New York, AFP
ZURICH, April 30 (Reuters) - As UBS's (UBSG.S) takeover of former rival Swiss bank Credit Suisse (CSGN.S) nears completion, details are emerging of what the new merged bank will look like. UBS is working towards spinning off the Swiss part of Credit Suisse and having the business's current head, Andre Helfenstein, run it, NZZ am Sonntag reported on Sunday. The Swiss newspaper cited a source as saying UBS had come around to the idea of a spin-off, which it initially deemed "out of the question", amid growing public and political pressure. UBS executives have repeatedly said that all options were still on the table concerning Credit Suisse's domestic business. NZZ also reported several sources as confirming that former co-head of UBS's global wealth management division, Tom Naratil, would rejoin the bank, having stepped down in October.
UBS seeing positive client flows this quarter - Khan
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - UBS Group (UBSG.S) is seeing positive flows of client funds this quarter, the co-head of the Swiss bank's wealth management business said on Tuesday. The first quarter had been pretty strong and it viewed the slowdown in the second quarter as an "anomaly", Iqbal Khan told the BofA Global Research financials conference. "As of this quarter we are seeing positive flows," he said without being specific. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Michael Shields, editing by Rachel More and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
UBS says it sees positive client flows this quarter
  + stars: | 2022-09-20 | by ( ) www.reuters.com   time to read: +1 min
Register now for FREE unlimited access to Reuters.com RegisterThe logo of Swiss bank UBS is seen at a branch office in Zurich, Switzerland, January 27, 2017. REUTERS/Arnd Wiegmann/File PhotoZURICH, Sept 20 (Reuters) - UBS Group (UBSG.S) is seeing positive flows of client funds this quarter, the co-head of the Swiss bank's wealth management business said on Tuesday. The first quarter had been pretty strong and it viewed the slowdown in the second quarter as an "anomaly", Iqbal Khan told the BofA Global Research financials conference. "As of this quarter we are seeing positive flows," he said without being specific. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Michael Shields, editing by Rachel More and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.
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