US added over 1,000 new millionaires a day last year Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a new report shows. Business • 19 Jun
US added over 1,000 new millionaires a day last year Wealth grew disproportionately quickly last year in the US, where over 379,000 people became new US dollar millionaires, more than a 1,000 a day, a new report shows. Business • 19 Jun
Swiss court rules Credit Suisse bonus cuts were unlawful A top Swiss court has ruled that the Swiss government's reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published last night. Business • 14 May
Swiss court rules Credit Suisse bonus cuts were unlawful A top Swiss court has ruled that the Swiss government's reductions and cancellations of bonus payments to former executives of Credit Suisse after the bank failed in 2023 were unlawful, according to the ruling published last night. Business • 14 May
UBS profit tops forecasts but tariffs shock cloud outlook UBS has today posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as US tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity. Business • 30 Apr
UBS profit tops forecasts but tariffs shock cloud outlook UBS has today posted better than expected first-quarter net profit, but the Swiss bank warned of an uncertain outlook as US tariffs raise global growth fears even as the market tumult drove up earnings in its trading activity. Business • 30 Apr
UBS probes undisclosed Nazi accounts at Credit Suisse Swiss bank UBS is working with an independent ombudsman to shed light on Nazi-linked accounts, it said over the weekend. Business • 06 Jan
UBS probes undisclosed Nazi accounts at Credit Suisse Swiss bank UBS is working with an independent ombudsman to shed light on Nazi-linked accounts, it said over the weekend. Business • 06 Jan
UBS boss warns against excessive banking regulation Switzerland should not set rules for its banking sector that put it at a disadvantage, UBS CEO Sergio Ermotti was quoted as saying today, as the country prepares to overhaul regulation following his bank's takeover of Credit Suisse. Business • 30 Dec 24
UBS boss warns against excessive banking regulation Switzerland should not set rules for its banking sector that put it at a disadvantage, UBS CEO Sergio Ermotti was quoted as saying today, as the country prepares to overhaul regulation following his bank's takeover of Credit Suisse. Business • 30 Dec 24
Global billionaire wealth leaps, fueled by US gains - UBS The wealth held by the world's billionaires jumped by about 17% over the past year, as significant gains among the super rich in the US more than offset a decline in China, Swiss bank UBS said today. Business • 05 Dec 24
Global billionaire wealth leaps, fueled by US gains - UBS The wealth held by the world's billionaires jumped by about 17% over the past year, as significant gains among the super rich in the US more than offset a decline in China, Swiss bank UBS said today. Business • 05 Dec 24
UBS posts robust third-quarter profit, double forecasts UBS Group has today posted third-quarter profit that was almost double expectations, reducing costs and boosting revenues and said it had completed the first wave of client migrations from Credit Suisse since acquiring its old rival last year. Business • 30 Oct 24
UBS posts robust third-quarter profit, double forecasts UBS Group has today posted third-quarter profit that was almost double expectations, reducing costs and boosting revenues and said it had completed the first wave of client migrations from Credit Suisse since acquiring its old rival last year. Business • 30 Oct 24
Credit Suisse real estate fund put into liquidation UBS has put a real estate fund of its former competitor Credit Suisse worth over $2 billion in to an "orderly liquidation" as of today, the Swiss bank said. Business • 15 Aug 24
Credit Suisse real estate fund put into liquidation UBS has put a real estate fund of its former competitor Credit Suisse worth over $2 billion in to an "orderly liquidation" as of today, the Swiss bank said. Business • 15 Aug 24
UBS quarterly profit beats forecasts Swiss bank UBS has posted a quarterly profit twice as high as the market forecast, buoyed by investment banking and larger-than-expected savings from the integration of its one-time rival Credit Suisse. Business • 14 Aug 24
UBS quarterly profit beats forecasts Swiss bank UBS has posted a quarterly profit twice as high as the market forecast, buoyed by investment banking and larger-than-expected savings from the integration of its one-time rival Credit Suisse. Business • 14 Aug 24
UBS completes merger of Swiss business with Credit Suisse Swiss bank UBS has has completed the merger of its domestic unit with Credit Suisse's operations in its home market, the bank said today, adding that the head of the Credit Suisse business was leaving the bank. Business • 01 Jul 24
UBS completes merger of Swiss business with Credit Suisse Swiss bank UBS has has completed the merger of its domestic unit with Credit Suisse's operations in its home market, the bank said today, adding that the head of the Credit Suisse business was leaving the bank. Business • 01 Jul 24
Swiss regulator rules out UBS competition action Switzerland's financial regulator has today ruled that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country's antitrust watchdog that it merited further scrutiny. Business • 19 Jun 24
Swiss regulator rules out UBS competition action Switzerland's financial regulator has today ruled that the UBS takeover of Credit Suisse did not create any competition concerns, despite recommendations from the country's antitrust watchdog that it merited further scrutiny. Business • 19 Jun 24
UBS splits wealth management role as part of reshuffle UBS said today that Rob Karofsky would become head of the Americas and co-president of global wealth management with Iqbal Khan, who will take charge of the Asia-Pacific region as part of a shake-up of the Swiss bank's executive board. Business • 30 May 24
UBS splits wealth management role as part of reshuffle UBS said today that Rob Karofsky would become head of the Americas and co-president of global wealth management with Iqbal Khan, who will take charge of the Asia-Pacific region as part of a shake-up of the Swiss bank's executive board. Business • 30 May 24
UBS back in profit in Q1 after two quarters in the red UBS has today reported net income for January-March that was nearly triple estimates as the bank logged its first quarterly profit since taking over fallen rival Credit Suisse. Business • 07 May 24
UBS back in profit in Q1 after two quarters in the red UBS has today reported net income for January-March that was nearly triple estimates as the bank logged its first quarterly profit since taking over fallen rival Credit Suisse. Business • 07 May 24
UBS to face tougher rules due to Credit Suisse rescue Switzerland's government said today that UBS and three other systemically relevant banks must face tougher capital requirements to shield the country's wider economy, a year after the rescue of Credit Suisse. Business • 10 Apr 24
UBS to face tougher rules due to Credit Suisse rescue Switzerland's government said today that UBS and three other systemically relevant banks must face tougher capital requirements to shield the country's wider economy, a year after the rescue of Credit Suisse. Business • 10 Apr 24
UBS near Switzerland's 'too big to fail' reckoning Since UBS rescued its stricken rival Credit Suisse a year ago, it has been waiting to hear how authorities will protect Switzerland from the risk of the country's only remaining big bank also imploding. It is about to find out. Business • 08 Apr 24
UBS near Switzerland's 'too big to fail' reckoning Since UBS rescued its stricken rival Credit Suisse a year ago, it has been waiting to hear how authorities will protect Switzerland from the risk of the country's only remaining big bank also imploding. It is about to find out. Business • 08 Apr 24
UBS launches new $2 billion share buyback UBS has today announced it was launching a new share buyback programme of up to $2 billion, with up to half being completed in 2024. Business • 02 Apr 24
UBS launches new $2 billion share buyback UBS has today announced it was launching a new share buyback programme of up to $2 billion, with up to half being completed in 2024. Business • 02 Apr 24
UBS CEO Ermotti had pay package of $16m last year UBS chief executive Sergio Ermotti earned 14.4 million Swiss francs ($15.90m) in 2023, making him the best paid European bank boss last year. Business • 28 Mar 24
UBS CEO Ermotti had pay package of $16m last year UBS chief executive Sergio Ermotti earned 14.4 million Swiss francs ($15.90m) in 2023, making him the best paid European bank boss last year. Business • 28 Mar 24
UBS sells $8 billion of Credit Suisse assets to Apollo UBS has sealed the sale of the securitised products business of Credit Suisse to Apollo Global Management, as part of efforts to wind down non-core assets after its takeover of the collapsed banking giant. Business • 27 Mar 24
UBS sells $8 billion of Credit Suisse assets to Apollo UBS has sealed the sale of the securitised products business of Credit Suisse to Apollo Global Management, as part of efforts to wind down non-core assets after its takeover of the collapsed banking giant. Business • 27 Mar 24
85 Swiss branches of UBS and Credit Suisse to shut UBS will close 85 branches in Switzerland of its combined operations with Credit Suisse by 2025 as part of its consolidation of its former rival, Swiss media reported today. Business • 08 Mar 24
85 Swiss branches of UBS and Credit Suisse to shut UBS will close 85 branches in Switzerland of its combined operations with Credit Suisse by 2025 as part of its consolidation of its former rival, Swiss media reported today. Business • 08 Mar 24
Global watchdog tells Switzerland to bolster controls Switzerland must strengthen its banking controls, a global financial watchdog said today, highlighting the risk a failure of UBS would pose to the country in the starkest warning yet of the perils from its takeover of Credit Suisse. Business • 29 Feb 24
Global watchdog tells Switzerland to bolster controls Switzerland must strengthen its banking controls, a global financial watchdog said today, highlighting the risk a failure of UBS would pose to the country in the starkest warning yet of the perils from its takeover of Credit Suisse. Business • 29 Feb 24
UBS flags up to $1 billion in share buybacks UBS said today it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up to $1 billion slated for 2024. Business • 06 Feb 24
UBS flags up to $1 billion in share buybacks UBS said today it had completed the first phase of integrating fallen rival Credit Suisse, was benefiting from net new asset flows and plans to restart share buybacks in the second half of the year, with up to $1 billion slated for 2024. Business • 06 Feb 24
UBS CEO dismisses criticism of bank's balance sheet UBS chief executive Sergio Ermotti dismissed critics' warning about the size of his bank's balance sheet today, arguing that the bank's rescue of Credit Suisse had created a larger but also stronger lender. Business • 17 Jan 24
UBS CEO dismisses criticism of bank's balance sheet UBS chief executive Sergio Ermotti dismissed critics' warning about the size of his bank's balance sheet today, arguing that the bank's rescue of Credit Suisse had created a larger but also stronger lender. Business • 17 Jan 24
UBS Chair: Swiss financial regulator needs more power UBS Chairman Colm Kelleher has called for the Swiss financial industry regulator FINMA to be given more powers after the downfall of Credit Suisse showed the authority lacked sufficient "teeth." Business • 28 Nov 23
UBS Chair: Swiss financial regulator needs more power UBS Chairman Colm Kelleher has called for the Swiss financial industry regulator FINMA to be given more powers after the downfall of Credit Suisse showed the authority lacked sufficient "teeth." Business • 28 Nov 23
ECB backs rules for bonds wiped in Credit Suisse deal The European Central Bank's chief supervisor has supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS earlier this year. Business • 17 Nov 23
ECB backs rules for bonds wiped in Credit Suisse deal The European Central Bank's chief supervisor has supported creating global standards for convertible bonds that were wiped out as part of Credit Suisse's rescue by rival UBS earlier this year. Business • 17 Nov 23
UBS reports Q3 loss amid integration expenses UBS Group has today posted a $785m loss in the third quarter after expenses tied to the Swiss bank's takeover of Credit Suisse while signalling that its core wealth business is stabilising. Business • 07 Nov 23
UBS reports Q3 loss amid integration expenses UBS Group has today posted a $785m loss in the third quarter after expenses tied to the Swiss bank's takeover of Credit Suisse while signalling that its core wealth business is stabilising. Business • 07 Nov 23
