Zurich: Banking giant UBS said Thursday that its merger with former rival Credit Suisse and full absorbtion of its Swiss unit would cause 3,000 job cuts in Switzerland in the coming years. “Around 1,000 redundancies will result from the integration of Credit Suisse Schweiz,” UBS chief executive Sergio Ermotti said in a conference call with […]
Swiss media have speculated about between 30,000 and 35,000 job cuts across world. (Representational) Zurich, Switzerland: Several hundred Credit Suisse investment bankers will soon be fired as UBS begins to implement the merger of the two banks, the Swiss weekly HandelsZeitung said Friday. UBS agreed to buy its rival in a hastily arranged 3-billion-franc ($3.5 […]
Thousands of jobs could be lost because of overlapping operations. (File) Zurich, Switzerland: UBS said Monday that it had finalised the takeover of its former rival Credit Suisse, clearing the way for a Herculean task of integration that will be closely watched by clients, employees and Swiss political leaders. The coming months are likely to […]
The merger will be complex both technically and politically. (File) UBS announced Monday it had finalised the takeover of its former rival Credit Suisse, clearing the way for the Herculean task of integrating two of the world’s most important banks. UBS announced Monday it had finalised the takeover of its former rival Credit Suisse, clearing […]
Credit Suisse said in a statement it will appeal the decision. Singapore: A Singapore court on Friday ordered Credit Suisse to pay an ex-Georgian prime minister $926 million for failing in its duty to safeguard his assets, in another blow to the fallen banking giant. Credit Suisse was bought by its rival UBS, Switzerland’s biggest […]
Tens of billions were withdrawn from Credit Suisse in the first three months of 2023. (Representational) Zurich: Tens of billions were withdrawn from Credit Suisse in the first three months of 2023, the bank’s earnings report showed Monday, providing clues to the towering challenges ahead as UBS prepares an emergency takeover. Switzerland’s long-time second largest […]
