Former Credit Suisse APAC asset management head exiting UBS – sources
By Selena Li and Xie Yu HONG KONG (Reuters) – Former asset management head of Credit Suisse in Asia Pacific, Min Huang, is leaving UBS as the bank embarks on reviewing its…
Swiss finance minister sees no ‘stumbling blocks’ to UBS takeover of Credit Suisse
ZURICH (Reuters) – UBS’s multi-billion state-sponsored takeover of Credit Suisse should proceed smoothly without political obstructions, Swiss Finance Minister Karin Keller-Sutter said in an interview published on Saturday. The Swiss parliament is…
Credit Suisse chairman: “I am truly sorry”
ZURICH (Reuters) – Credit Suisse’s chairman told a room full of shareholders that he was “truly sorry” the Swiss bank was not able to get back on track at its final annual…
Swiss economists question UBS takeover of Credit Suisse in poll
ZURICH (Reuters) – A poll of Swiss economists found that nearly half think the takeover of Credit Suisse by UBS was not the best solution, warning the saga has dented Switzerland’s reputation…
Analysis-Future for shock-absorbing bank debt uncertain in Credit Suisse aftermath
By Naomi Rovnick, Nell Mackenzie and Chiara Elisei LONDON (Reuters) – As the dust settles on a surprise move by Switzerland to write down $17 billion of bonds under Credit Suisse’s rescue,…
Credit Suisse withdraws certain proposals to AGM following UBS merger
(Reuters) -Credit Suisse Group AG said on Wednesday it has withdrawn certain proposals to the 2023 annual general meeting following the lender’s recent merger with UBS Group AG. The withdrawn proposals includes…
UK Treasury official sees no immediate concerns on UBS-Credit Suisse deal
By David Lawder WASHINGTON (Reuters) – Britain’s No. 2 Treasury official said on Tuesday that he does not have any immediate concerns about the execution of Switzerland’s Credit Suisse rescue by UBS…
Japan banks’ holdings of Credit Suisse AT1 bonds small – Finance Minister
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese banks’ holdings of Additional Tier-1 (AT1) bonds issued by Credit Suisse are small so the direct hit from them being written down to…
“We did not buy Credit Suisse only to close it” – UBS CEO
ZURICH (Reuters) – UBS’s CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters. “While…
Swiss sight deposits jump, suggesting Credit Suisse, UBS took emergency liquidity
ZURICH (Reuters) – Sight deposits held by the Swiss National Bank (SNB) jumped last week, data showed on Monday, suggesting that both Credit Suisse and UBS may have taken big chunks of…
UBS races to seal Credit Suisse deal as soon as late April, sources say
By Elisa Martinuzzi, Saeed Azhar and Stefania Spezzati LONDON (Reuters) – The Swiss authorities and UBS Group AG are racing to close the takeover of Credit Suisse Group AG within as little…
Credit Suisse hires Southeast Asia wealth vice chairman
Sydney (Reuters) – Credit Suisse said on Thursday it has hired private banker Kwong Kin Mun as its new vice chairman for Southeast Asia wealth management. The embattled bank is being bought…
Analysis-Credit Suisse collapse threatens Switzerland’s wealth management crown
By John Revill ZURICH (Reuters) – The fall of Credit Suisse has dealt a serious blow to Switzerland’s credentials as the world’s leading wealth management centre, experts warn, calling into question its…
Big investor in Credit Suisse bonds says ‘bail-in’ system worked
By Herbert Lash NEW YORK (Reuters) – One of the largest investors of the Credit Suisse bonds that were wiped out in the UBS takeover of the troubled Swiss bank still believes…
UBS set for talks with Michael Klein to terminate Credit Suisse investment bank deal – FT
(Reuters) – UBS is set to enter talks with Michael Klein to terminate a deal that would have seen the Wall Street dealmaker take control of much of Credit Suisse’s investment bank,…
PIMCO lost $340 million with Credit Suisse AT1 bonds write-off – source
By Davide Barbuscia NEW YORK (Reuters) – Bond giant PIMCO lost about $340 million on a category of Credit Suisse bonds that were wiped out by the takeover by UBS, with the…
Canada’s banking regulator reaffirms creditor hierarchy after Credit Suisse deal angers bondholders
(Reuters) – Canada’s banking regulator said on Monday that those who hold Additional Tier 1 (AT1) and Tier 2 debt will be entitled to a more favorable outcome if a bank runs…
Credit Suisse memorabilia up for grabs in online shops after merger
ZURICH (Reuters) – Within hours of its state-backed takeover by UBS Group being announced, memorabilia bearing lender Credit Suisse’s name and logo was being put up for sale in Switzerland, marking the…
UBS mulls sweeteners to keep Credit Suisse wealth bankers – source
By Stefania Spezzati LONDON (Reuters) – UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover,…
Sight deposits rise, indicating Credit Suisse took central bank liquidity
ZURICH (Reuters) – Credit Suisse took a hefty chunk of liquidity from the Swiss National Bank last week, sight deposit data published by the central bank indicated on Monday. Total deposits held…
French insurer AXA has about $640 million exposure to Credit Suisse
PARIS (Reuters) – French insurer AXA had a “limited exposure” of about 0.6 billion euros ($639.5 million) to Swiss bank Credit Suisse, it said on Monday. “AXA has no exposure to Credit…
Derivatives that track bonds at the heart of Credit Suisse rescue slide
LONDON (Reuters) – Derivatives that track the value of key bank debt fell sharply on Monday, after UBS agreed to rescue rival Credit Suisse, forcing a massive writedown of the latter’s additional…
Asia policymakers move to calm nerves after Credit Suisse takeover
By Scott Murdoch SYDNEY (Reuters) – Asian policymakers on Monday moved to calm investor nerves after announcements of a historic Swiss-backed takeover of troubled Credit Suisse and a coordinated move by major…
Singapore central bank says no interruption to Credit Suisse operations
(Reuters) – Singapore’s central bank said Credit Suisse Group would continue operating in the city-state without any curbs, adding that it expected no impact of the Swiss bank’s takeover by UBS Group…
UBS’s Credit Suisse deal was the best solution says Swiss gov’t
(Reuters) – Swiss Finance Minister Karin Keller-Sutter was determined to present the deal for UBS to buy Credit Suisse as no bailout but the best possible solution to a difficult situation. Keller-Sutter,…
Marketmind: UBS-Credit Suisse deal sealed. Is it enough?
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Buckle up. Asian markets are set for a volatile open on Monday after Swiss authorities…
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