Switzerland Financial News

Credit Suisse is paying its senior bankers a bigger chunk of their annual bonus in cash, but will claw some of it back if they leave within three years in a new programme aimed at increasing loyalty among its dealmakers after a spate of departures.

Since 2019, Swiss financial crypto intermediaries have required proof of ownership of an external wallet's address for Bitcoin withdrawals and deposits to their customers' non-custodial wallets. One automated mechanism used for this is the Address Ownership Proof Protocol, or AOPP.  

Credit Suisse is paying its senior bankers a bigger chunk of their annual bonus in cash, but will claw some of it back if they leave within three years in a new programme aimed at increasing loyalty among its dealmakers after a spate of departures.

Meta-backed crypto initiative “Diem” is reportedly trying to sell its assets, seemingly calling time on Facebook founder Mark Zuckerberg’s grand ambitions for a stablecoin to act as the internet’s currency.

Credit Suisse is set to post a loss for its investment bank for the final three months of 2021, as a slow down in trading revenues and a CHF500m (£405m) hit from legal costs prove to be another blow to the Swiss bank after a series of crises.

The internet is filled with Bitcoin (BTC) price forecasts. For example, some analysts believe that the flagship crypto will hit $1 million per coin in the next 10 years, while others think BTC price will eventually drop to zero.

After relocating to Zurich last spring to run Credit Suisse Group as chairman, António Horta-Osório flew to London and Lisbon for work meetings and business events, then spent time with his family at homes there.

After relocating to Zurich last spring to run Credit Suisse Group as chairman, António Horta-Osório flew to London and Lisbon for work meetings and business events, then spent time with his family at homes there.

Davos is back on — but residents of the Swiss mountain town will have to wait until May to spot heads of states and senior executives from around the world roaming through the streets.

Round two of US-Russia talks over Ukraine and security start on Friday.

Credit Suisse has re-hired a senior dealmaker to co-head its coverage of healthcare companies in Europe, as the Swiss bank continues with a hiring spree after a series of departures.

Credit Suisse has re-hired a senior dealmaker to co-head its coverage of healthcare companies in Europe as the Swiss bank continues with a hiring spree after a number of departures.

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

On Thursday, Metaco, an enterprise cryptocurrency platform for securing, trading, issuing, and managing digital assets, announced the addition of UnionBank as its latest client. Founded in 1982, UnionBank is one of the largest banks in the Philippines, with a collective $15 billion in assets under management. UnionBank will be also be deploying its digital asset management services on the IBM Cloud, which are fully integrated with Metaco's solutions.

This came after the firm warned that it would have to cut its headcount in half after a funding round in the "high double-digit million range" fell through.In response, Numbrs changed its business model to focus on a paid software-as-a-service subscription model in Germany and the UK. Now it has pivoted once again, moving its headquarters from Zurich to 'Crypto Valley Zug and kitting out an old Swiss army alpine bunker as the secure backbone for the launch of a bitcoin wallet app.Numbrs CEO and chair Fynn Kreuz told Swissinfo that changes to European Union laws to create Open Banking should have made it easier for agile fintechs to plug into the financial system and reach customers.“It should have allowed us to roll out our business by storm.

Andréa Maechler, a member of the governing board for the Swiss National Bank, or SNB, has reportedly altered her position on the central bank issuing a digital franc. 

Disclaimer: The text below is a press release that was not written by Cryptonews.com.

LONDON — Credit Suisse Chairman Antonio Horta-Osorio resigned on Sunday after violating Covid-19 quarantine rules, the latest in a series of high-profile scandals that have rocked the Swiss bank in recent years.

A major Credit Suisse shareholder said he hopes the Swiss bank will be "revitalised" following another shake-up of its board that ousted Sir António Horta-Osório as chair after just eight months for breaching Covid-19 rules.

Founded by BitMEX Group CEO Alexander Höptner and CFO Stephan Lutz, BXM Operations AG announced today its plans to acquire Bankhaus von der Heydt, one of the oldest banks in Europe, to create a regulated crypto one-stop-shop in Germany, Austria and Switzerland.

BXM Operations AG, a company set up by executives of crypto exchange platform BitMEX, plans to purchase German bank Bankhaus von der Heydt as the BitMEX group aims to establish a one-stop-shop for regulated crypto products in the DACH region (Germany, Austria, and Switzerland).