UBS Group Wealth management president Iqbal Khan announced in a memo on Monday morning the new leadership of the unit after the closure of the acquisition of Credit Suisse Group AG .
UBS Asia Pacific co-head of wealth management, Amy Lo, has expanded her role to spend more time on key clients after the Swiss bank completed its takeover of Credit Suisse on Monday, according to an internal memo seen by Reuters.
PrivatBank’s former owners had “absolute power” over the lender which they used to siphon off nearly $2 billion, pushing it towards nationalisation, lawyers representing Ukraine’s largest bank told London’s High Court on Monday.
Swiss financial regulator FINMA has specified the central elements of its regulatory requirements for the merged UBS and Credit Suisse, it said on Monday.
JPMorgan said on Monday it expects Turkey’s central bank to hike interest rates to 25% from the current 8.5% at its June meeting, adding this could come with forward guidance suggesting smaller hikes ahead if needed.
With its Credit Suisse takeover officially wrapped up, UBS must now make good on its promise that the government-orchestrated rescue will deliver both for shareholders and Swiss taxpayers.
Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said.
Several Chinese commercial banks cut interest rates on a range of yuan deposits from Monday, following their larger peers in a coordinated move to ease pressure on profit margins.
