The Bern-based prosecutor is looking into potential breaches of Swiss criminal law by government officials, regulators and executives at the two banks, which agreed on an emergency merger last month, the report said citing the authority.
There were “numerous aspects of events around Credit Suisse” that warranted investigation and which needed to be analysed to “identify any crimes that could fall within the competence of the [prosecutor]”, the report added. Switzerland's federal prosecutor and Credit Suisse did not immediately respond to a Reuters request for comment.Reporting by Sneha Bhowmik in Bengaluru; Editing by David Goodman and David Holmes
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Swiss economists question UBS takeover of Credit Suisse in pollA poll of Swiss economists found that nearly half think the takeover of Credit Suisse by UBS was not the best solution, warning the saga has dented Switzerland's reputation as a banking centre. This is still very risky. Swiss regulators might have been better to spend the time to do the digesting of Credit Suisse rather than quickly sweeping it under the rug to forestall panic. If Swiss keeps greedy for CCP bloody corrupted money, their banking system will end up like Credit Suisse according to the Murphy’s Law.
Source: Reuters - 🏆 2. / 97 Read more »
Credit Suisse takeover hits heart of Swiss banking, identityThe UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say. That’s true that image couldn’t be restored. All caused by Biden and Isreal.
Source: ABC - 🏆 471. / 51 Read more »
Credit Suisse takeover hits heart of Swiss banking, identityAnalysts say the UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center. They warn that the country’s prosperity could grow too dependent on a single banking behemoth. The uncertain future of a union of Switzerland’s two global banks comes at a thorny time for Swiss identity, built nearly as much on a self-image of finesse in finance as on know-how with chocolate, watchmaking and cheese. Incoming UBS chief Sergio Ermotti says Switzerland needs a strong globally significant bank if it wants to be a financial hub. He says the issue isn't “too big to fail' but 'too small to survive.” We are saying the same thing in San Francisco Global reputation as ethically corrupt tax haven, you mean? Really Not even the fact that for decades, Switzerland allowed anonymous people to have secret bank accounts …helping drug trafficking and money laundering …🙄🙄🙄🙄
Source: AP - 🏆 728. / 51 Read more »
Credit Suisse takeover hits heart of Swiss banking, identityThe UBS takeover of embattled rival Credit Suisse has shaken Switzerland's self-image and dented its reputation as a global financial center, analysts say, warning that the country's prosperity could grow too dependent on a single banking behemoth.
Source: WashTimes - 🏆 235. / 63 Read more »
Norwegian wealth fund seeks Credit Suisse boardroom shake-upNorges Bank Investment Management will vote against the re-election of Credit Suisse Chair Axel Lehmann and six other directors at the Swiss lender's annual general meeting on Tuesday, the Norwegian wealth fund said on its website. Ich dachte die Credit Swiss gibt es nicht mehr ? Is there a clear chain of authority inside UBS anymore? This seems to imply that Credit Suisse exists as a separate patch of quicksand inside UBS.
Source: Reuters - 🏆 2. / 97 Read more »
UBS may cut up to a third of jobs after Credit Suisse takeover, Tages-Anzeiger reportsThe bank created by the UBS takeover of Credit Suisse is poised to reduce its workforce by 20-30%, Swiss daily Tages-Anzeiger reported on Sunday, citing an unnamed senior UBS manager. very good for banking. o lol
Source: Reuters - 🏆 2. / 97 Read more »