Tag: CH:UBSG
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UBS faces hundreds of millions in fines over Credit Suisse’s Archegos: report
[ad_1] Credit Suisse’s relationship with family office Archegos Capital is set to hit UBS following investigations by UK, Swiss and US regulators. Hundreds of millions in potential penalties could come just days after UBS UBS, -0.05% UBSG, -0.78% completed its acquisition of its beleaguered Swiss rival in a landmark deal backed by the Swiss government,…
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UBS says its takeover of Credit Suisse is now complete
[ad_1] UBS said Monday that it has finalized its takeover of Credit Suisse AG, ending a monthslong saga that saw the collapse of one of Switzerland’s biggest financial institutions. The bank announced that completion in an open letter to Swiss, German-language daily newspaper, NZZ and other international publications, describing the deal as “the beginning of a…
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UBS expects to complete Credit Suisse acquisition as early as June 12
[ad_1] UBS Group said it expects to complete its acquisition of Swiss peer Credit Suisse Group as early as June 12. Upon completion, Credit Suisse’s shares CSGN, +2.32% and American depositary shares CS, +4.54% will be delisted from the SIX Swiss Exchange and the New York Stock Exchange, UBS UBS, +2.31% UBSG, +2.41% said in…
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UBS estimates $35 billion gain from buying Credit Suisse
[ad_1] UBS is setting aside $4 billion for possible litigation costs from its acquisition of Credit Suisse, but nonetheless will book $34.8 billion in negative goodwill from the deal. The announcement came in a presentation the bank made on the deal, which UBS UBS, -1.44% UBSG, +0.20% made with the backing of the Swiss government.…
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UBS outlines new leadership team as it says Credit Suisse deal will close in coming weeks
[ad_1] UBS Group on Tuesday outlined its new operating model and leadership team as it said that it anticipates its acquisition of Credit Suisse Group CS CH:CSGN will close in the next few weeks. The Swiss bank UBS CH:UBSG said Credit Suisse Chief Executive Ulrich Koerner will join UBS’s executive board once the transaction is…
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UBS profit halves due to U.S. litigation, but draws billions new money
[ad_1] UBS Group AG said Tuesday that earnings declined in the first quarter, hurt by litigation, but that the bank drew in billions in net new money at its global wealth-management business following the news of its acquisition of Credit Suisse Group AG. The Swiss bank UBS CH:UBSG said its result was affected by $665…