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UBS to slash up to 36,000 jobs after Credit Suisse merger – DW – 04/02/2023

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1. UBS nuits over Credit Suisse merger – style: news

Swiss multinational investment bank and financial services company UBS has reportedly put an end to its pursuit of a merger with Credit Suisse, according to anonymous sources. Discussions between the two banks had been ongoing for several months, but no agreement was reached due to a number of factors. These included concerns about the valuation of each bank and potential regulatory hurdles. Both banks declined to comment on the rumors.

The news of the failed talks has caused ripples in the financial world, with many analysts speculating on the reasons for the breakdown in negotiations. Some experts suggest that the current economic climate, which has been heavily impacted by the COVID-19 pandemic, may have played a role in the decision not to merge. Others believe that the two banks may have simply been too different in their approaches to business and strategy to make a successful partnership.

  • UBS reportedly puts an end to merger talks with Credit Suisse
  • No agreement reached due to concerns over valuation and regulatory hurdles
  • Analysts speculate on reasons for breakdown in negotiations

The rumor mill is likely to continue churning as investors and industry insiders seek to gain a better understanding of the situation. However, for now, it seems that UBS and Credit Suisse will continue as separate entities.

2. UBS: Robinson to leave Credit Suisse – style: business

UBS has announced that Iqbal Khan, former Credit Suisse executive, will take over as co-head of wealth management as current CEO, Martin Blessing, steps down. This news comes in the wake of the announcement that UBS’s rival, Credit Suisse, is facing big changes. Brian Chin will take over as CEO after company veteran Tidjane Thiam resigned, and James Walker will succeed the current Chief Financial Officer David Mathers as after Mathers retires.

UBS’s newest executive, Iqbal Khan, is no stranger to the wealth management industry. After starting his career with UBS in 2013, Khan swiftly rose up the ranks at Credit Suisse, where he eventually became CEO of its international wealth management unit. He left Credit Suisse in 2019 after it was discovered that he was under surveillance by private investigators who were reportedly hired by former colleagues.

3. UBS: Credit Suisse merger study: What to watch for in 2023 – style: business

As the banking sector continues to undergo major changes, the possibility of a Credit Suisse and UBS merger has been a topic of discussion for years. A recent study conducted by UBS outlines what investors should be watching for in 2023.

  • Regulatory hurdles: Any merger between two major banks is going to face a significant amount of regulatory scrutiny. The UBS study notes that there is likely to be considerable attention paid to antitrust concerns, as well as the overall stability of the financial system after such a major merger.
  • Culture clash: UBS and Credit Suisse are two very different banks with distinct cultures. A merger would bring together two very different teams with different values and ways of doing things. Investors will want to watch how the two companies work to integrate their cultures and ensure that there is a shared vision moving forward.
  • Market impact: A UBS-Credit Suisse merger would create a banking giant that would rival some of the largest institutions in the world. Investors will be watching to see how the market responds to the merger and what impact it has on the broader financial landscape.

Overall, a merger between UBS and Credit Suisse would be a major event in the banking industry. While it remains to be seen whether it will happen, investors should be keeping a close eye on the situation and watching for updates in the coming years.

UBS is considering how to cut its rivals in the credit industry after Credit Suisse’s merge with another bank. Cindely little has been heard yet UBS is talking about layoffs. It’s all part of a overall plan to be more competitive in the credit industry.

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