UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure key staff following the takeover, a person with knowledge of the matter told Reuters on Monday. | Reuters
and assume at least $5.4 billion in losses in a deal backed by a massive Swiss guarantee and expected to close by the end of 2023.
During the townhall, the executives didn’t provide further details on job cuts. Before the deal,had embarked on a plan to slash 9,000 jobs. That number can grow to 10,000, Reuters has reported as
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Central banks try to calm markets after UBS deal to buy Credit SuisseIn a global response not seen since the height of the pandemic, the US Federal Reserve says it has joined with central banks in Canada, England, Japan, the EU, and Switzerland in a coordinated action to enhance market liquidity.
Read more »
UBS to take over Credit Suisse, assume up to 5 billion Swiss francs in losses'With the takeover of Credit Suisse by UBS, a solution has been found to secure financial stability and protect the Swiss economy in this exceptional situation,' the Swiss central bank says.
Read more »
UBS agrees to buy Credit Suisse for more than $2 billion —FTUBS has agreed to buy Swiss banking giant Credit Suisse after increasing its offer to more than $2 billion, the Financial Times reported on Sunday, as authorities bid to stave off turmoil when the markets reopen.
Read more »
UBS makes offer for Credit Suisse; bondholder losses consideredBloomberg News reports that Credit Suisse is resisting UBS' offer of up to $1 billion. Any deal for Credit Suisse could ripple through global financial markets.
Read more »
Central banks try to calm markets after UBS deal to buy Credit SuisseSome of the world’s largest central banks came together on Sunday to stop a banking crisis from spreading as Swiss authorities persuaded UBS Group AG on Sunday to buy rival Credit Suisse Group AG in a historic deal. | Reuters
Read more »
UBS swallows doomed Credit Suisse, casting shadow over SwitzerlandUBS Group emerged as Switzerland’s one and only global bank with a state-backed rescue of its smaller peer Credit Suisse, a risky bet that makes the Swiss economy more dependent on a single lender. | Reuters
Read more »