Tag: UBS

UBS-Credit Suisse Merger: Hundreds Of Investment Bankers To Be Laid Off
29Jul By Hindustan Herald DeskNo Comments
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UBS-Credit Suisse Merger: Hundreds Of Investment Bankers To Be Laid Off

In the aftermath of the global banking crisis that originated from the US financial market, leading Swiss banking institutions, UBS Group and Credit Suisse, have merged in a landmark deal worth $3.2 billion. This merger was facilitated by the Swiss government and regulator as a response to the turbulence in the markets and the liquidity constraints exposed by the crisis.Massive Job Cuts Expected in Investment Banking SectorFollowing the merger, there are expected to be significant layoffs in the investment banking sector. According to a report by Swiss weekly HandelsZeitung, UBS chief executive Sergio Ermotti aims to swiftly eliminate redundancies in the workforce. This comes after UBS Group AG's emergency takeover of Credit Suisse in March of this year.Termination Notices ...
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‘A signal For All bankers…,’ Says Uday Kotak As UBS Seals Credit Suisse Takeover
20Mar By Ratnakar MavilachNo Comments
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‘A signal For All bankers…,’ Says Uday Kotak As UBS Seals Credit Suisse Takeover

UBS Group AG has agreed to acquire Credit Suisse Group AG at a significant discount of 60%. The deal involves a write-off of $17 billion worth of Additional Tier 1 bonds. The acquisition has attracted attention from industry experts, including Uday Kotak, the Managing Director of Kotak Mahindra Bank.Industry Experts Weigh InUday Kotak tweeted that the acquisition of Credit Suisse by UBS sends a signal to all bankers and stakeholders. He emphasized the importance of risk-return assessment in investments over the size of a financial institution. Kotak's statement is a reminder that obsession with size can be detrimental to a company's risk-return matrix.https://twitter.com/udaykotak/status/1637659230839914498?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E16376592308399144...
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