UBS Group AG is reportedly preparing to resolve Credit Suisse's longstanding tax dispute with the United States Department of Justice, which involves allegations of aiding American clients in tax evasion, sources told The Wall Street Journal on Thursday.An insider revealed that a settlement, potentially...
The Swiss Parliamentary Investigation Committee (PUK) released its findings on the Credit Suisse collapse on Friday, attributing the bank's downfall to "years of mismanagement."The report revealed that Credit Suisse's financial situation worsened throughout 2022, with significant liquidity outflows...
UBS Group AG said on Monday that it completed the merger of UBS Switzerland AG and Credit Suisse AG, adding that Credit Suisse no longer exists as a separate entity. The company said existing clients of Credit Suisse will still use their existing platforms and tools before switching to UBS.
"The...
The Swiss Financial Market Supervisory Authority (FINMA) ruled on Wednesday that the merger between UBS Group and Credit Suisse did not create any competition concerns.The Swiss regulator previously approved UBS' takeover of the troubled Credit Suisse in advance on March 19 last year to serve...
Credit Suisse Group AG CEO Ulrich Korner will supposedly depart from UBS Group AG in the coming weeks. the Financial Times reported, citing people briefed on the matter.UBS is working toward the completion of the merger between the bank's legal entities and those of Credit Suisse by the end of...
Swiss multinational investment bank UBS Group AG and Apollo Global Management Inc. announced on Wednesday a deal in which the latter will purchase $8 billion of UBS's senior secured financing instruments.
The deal states that UBS and Apollo entered into an Investment Management...
UBS Group AG announced on Thursday that its Board of Directors cleared the deal under which UBS AG and Credit Suisse AG would merge.
The deal between the two entities is expected to materialize in 2024, according to a press release by UBS.
In June, holding companies UBS Group AG and CS...
The Financial Stability Board (FSB) announced on Monday that it decided to remove Italian UniCredit from its list of global systemically important banks (G-SIBs) for not complying with FSB's requirements.
Additionally, the FSB eliminated Credit Suisse from its list of G-SIBs after Switzerland's...
The Swiss bank UBS Group started selling Additional Tier 1 (AT1) bonds for the first time since the Credit Suisse buyout, The Financial Times reported on Wednesday.
The lender's offer for new dollar AT1 bonds markets non-call 5-year and non-call 10-year notes with a yield of about 10% and 10.125%,...
Swiss National Bank (SNB) Governing Board Chairman Thomas Jordan said on Wednesday that the possibility of additional interest rate increases should not be dismissed.
The real consequences of the economy from monetary tightening carried out so far are yet uncertain, he noted after delivering...
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