UBS profit leaps 63% in Q2 amid wealth management boom
UBS (UBSG.S) on Tuesday posted a 63% jump in second-quarter net profit, easily beating expectations as buoyant markets continued to help the world’s largest wealth manager generate higher earnings from managing money for the rich.
Swiss bank UBS to let most staff adopt hybrid working
UBS Group (UBSG.S) will allow most staff to mix remote working with time spent in the office, Switzerland’s biggest bank said on Monday, taking a more relaxed approach than some of its Wall Street rivals.
Fearing predators, Credit Suisse seeks new look or even merger-sources
Credit Suisse’s top management are under pressure to come up with an overhaul plan for the scandal-hit Swiss bank that could include a potential merger with rival UBS (UBSG.S), three people familiar with its thinking told Reuters.
Global banks in Hong Kong push to get staff back to office
Global banks are moving faster in Hong Kong to get staff back to office versus in other major centres, given fewer daily COVID-19 cases in the Asian city, and are offering incentives such as onsite vaccinations and days off to encourage inoculation.
Archegos fallout shows big banks need to be resilient, Swiss cenbank says
Losses from exposure to U.S.-based investment firm Archegos have demonstrated the need for “too big to fail” capital requirements to ensure adequate resilience at Credit Suisse (CSGN.S) and UBS (UBSG.S), the Swiss National Bank (SNB) said on Thursday.
NBCUniversal CEO says Tokyo Olympics could be most profitable ever for company
NBCUniversal Chief Executive Jeff Shell said on Monday that the upcoming Tokyo Games could be the most profitable Olympics in NBC’s history.
Australia’s NAB reveals anti-money laundering probe, shares fall
National Australia Bank (NAB.AX) said on Monday it is under investigation for suspected serious and ongoing breaches of anti-money laundering and counter-terrorism laws, sparking concerns about potential fines and higher compliance costs.
Credit Suisse in firing line after Archegos losses
ZURICH/NEW YORK (Reuters) – Pressure was mounting on Credit Suisse on Tuesday over losses linked to the downfall of Archegos Capital, with analysts warning its dividend and share buyback plans may need to go on hold and investors advised to vote against management pay.
