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UBS may see $150 billion drop in wealth management client assets
The decline would be due to the acquisition of Credit Suisse which would come as a result of client outflows, the overlap between the two banks and ongoing cost savings, says bank analysts.
UBS could get hit with hefty fines over Credit Suisse’s dealings with Archegos
The Federal Reserve’s fine over Archegos may be as high as $300 million, while the UK’s Prudential Regulation Authority could impose a penalty of up to $128 million.
Credit Suisse deal will make UBS a wealth management ‘powerhouse’: JPMorgan
The price UBS paid for its Swiss rival is 'attractive' even after factoring in potential losses on Credit Suisse assets, litigation costs and restructuring expenses, according to a report by JPMorgan analysts.
UBS, Credit Suisse among banks facing US probe into Russia sanctions
As the Justice Department investigates whether financial professionals helped Russian oligarchs evade sanctions, subpoenas also went to employees of some major US banks.
UBS credit outlook cut to negative by S&P, Moody’s following Credit Suisse deal
In addition, Fitch places UBS on rating watch negative due to uncertain implications of the acquisition on the combined credit profile of the two banks.
UBS swallows Credit Suisse, still eyes growth in US
The UBS deal to acquire its banking rival, along with the continued drop in the share price of First Republic Bank, could mean a further shake-up in the US wealth management market.
First Republic stock falls in early trading after S&P cuts rating for second time
The rating agency lowered the bank's long-term issuer credit rating to B+ from BB+, having already downgraded the lender to junk last Wednesday.
UBS CEO gets 11% pay hike
Ralph Hamers received $13 million for his second full year in the job while the overall bonus pool for the rest of the firm was cut 10% to $3.3 billion.
Morgan Stanley fines bankers over $1 million each for using unapproved messaging platforms
The firm is the latest bank to require individual staff to bear some of the burden of an unprecedented regulatory investigation.
