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Search resuls for: "Yantoultra Ngui Summer Zhen Selena Li"


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☆ Stunned Credit Suisse staff fear uncertain future despite UBS rescue deal
  + stars: | 2023-03-20 | by ( Yantoultra Ngui Summer Zhen Selena Li | Yantoultra Ngui | Summer Zhen | ) www.reuters.com   time to read: +4 min
Credit Suisse employs 50,000 people globally across wealth management, investment banking and asset management operations, with more than 150 offices in 50 countries. Outside its office near Singapore's central business district, nearby coffee shops, usually bustling with bankers from Credit Suisse and rivals, were less crowded early on Monday. UBS warned on Sunday that it would pare back much of Credit Suisse's investment bank, which Credit Suisse had planned to spin off. UBS and Credit Suisse sources said Southeast Asia was among the regions where the banks had the most overlap on the wealth management and investment banking teams. "Investment banking stands out and that could be where the pain is felt most for Credit Suisse," a senior executive at UBS said.
☆ Shocked Credit Suisse staff fear uncertain future despite UBS rescue deal
  + stars: | 2023-03-20 | by ( Yantoultra Ngui Summer Zhen Selena Li | Yantoultra Ngui | Summer Zhen | ) www.reuters.com   time to read: +3 min
SINGAPORE/HONG KONG, March 20 (Reuters) - Credit Suisse staff arriving to work in Hong Kong and Singapore on Monday morning fretted about retrenchments and retaining business after larger Swiss rival UBS agreed to swallow the 167-year-old bank in a state-backed rescue. Credit Suisse employs 50,000 people globally across wealth management, investment banking and asset management operations, with more than 150 offices in 50 countries. Outside its office near Singapore's central business district, nearby coffee shops, usually bustling with bankers from Credit Suisse and rivals, were less crowded early on Monday. In Hong Kong, Credit Suisse said it would still press ahead with its annual investment conference that kicks off on Tuesday, although media are no longer invited. UBS warned on Sunday that it would pare back much of Credit Suisse's investment bank, which Credit Suisse had planned to spin off.
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