Sergio Ermotti News

07.11 / 12:06

UBS companies Results Credit Suisse Costs UBS reports $785m loss as Credit Suisse integration costs swell to $2bn

In its asset management arm, net new money declined by $1.5bn, and by $8.3bn excluding money market flows and associates, while invested assets declined 3% to $1.6trn.

07.11 / 09:23

Progressive Experts country pop reports Costs UBS posts first quarterly loss since 2017 on Credit Suisse costs

larger-than-expected loss in the third quarter on Tuesday, the first quarterly drop since 2017 as it integrates Credit Suisse after taking over its fallen Swiss banking rival. Switzerland's largest bank said the net loss in the third quarter stood at $785 million (732 million euros).

07.11 / 07:29

CEO Strategy performer UBS posts first loss since 2017 due to Credit Suisse integration

UBS posted its first quarterly loss in almost six years, as the ongoing absorption of Credit Suisse drags on the Swiss lender’s performance.

07.11 / 06:03

Booking Exodus reports Q3 UBS reports Q3 loss amid integration expenses

ZURICH (Reuters) — UBS Group reported a $785 million third-quarter loss on Tuesday after booking $2.1 billion in expenses tied to the Swiss bank's takeover of fallen rival Credit Suisse.

29.09 / 09:37

COST CEO UBS reports Credit Suisse sheds nearly 13% of workforce this year

ZURICH (Reuters) -Credit Suisse has shed nearly 13% of its workforce this year, underlining the turmoil at the bank that was taken over by cross-town rival UBS in a state-engineered rescue earlier this year.

19.09 / 13:43

COST Progressive Strategy UBS 2024 NOT UBS to set out US growth plan, but not until early 2024

UBS Group Chief Executive Sergio Ermotti said the bank will give investors an outline of its growth strategy early next year and signaled the direction of plans to grow in the U.S., as the lender progresses with the integration of Credit Suisse.

06.09 / 01:21

COST CEO UBS country Takeover NOT UBS CEO insists bank not too big after Credit Suisse takeover

ZUG, Switzerland (Reuters) — The new expanded UBS is not too big for Switzerland following the bank's emergency takeover of fallen rival Credit Suisse, Chief Executive Officer Sergio Ermotti said on Tuesday.

31.08 / 13:49

COST Target Strategy UBS UBS plans cost cuts after $29B Credit Suisse windfall

UBS Group outlined major targets for its integration of former rival Credit Suisse, including 3,000 domestic job cuts and more than $10 billion in cost savings, as it posted the biggest ever quarterly profit for a bank on the back of the bargain acquisition that closed in June.

31.08 / 11:49

COST JPMorgan Chase UBS show UBS just smashed JPMorgan’s record for quarterly bank profit

Global banking group UBS has beaten earnings expectations and beaten the record for quarterly profit in the banking sector.

31.08 / 07:57

UBS banking companies Results Credit Suisse Wealth Management UBS posts record bank profit following Credit Suisse acquisition

“Our analysis clearly shows that full integration is the best outcome for UBS, our stakeholders and the Swiss economy,” said UBS group CEO Sergio Ermotti.

31.08 / 07:23

COST UPS CEO UBS reports Takeover UBS reports huge 2Q profit skewed by Credit Suisse takeover, foresees $10B in cost cuts

Swiss bank UBS announced plans to save $10 billion in costs as it moves ahead with “full integration” of longtime rival Credit Suisse’s domestic operations, releasing its first earnings report since the government-orchestrated merger to help stave off ...

29.08 / 17:55

COST UPS FIVE UBS country Takeover UBS set for record quarter, plenty of post-takeover questions

UBS Group investors are bracing for plenty of superlatives and drama as the Swiss lender prepares to unveil the first quarterly results since taking over Credit Suisse in an unprecedented government-led rescue.

07.08 / 14:59

UPS Reuters UBS show UBS rejigs investment bank in bid to better compete with Wall Street

LONDON (Reuters) — UBS announced an overhaul of its investment banking division on Monday, including naming the unit's M&A chiefs, marking a key step in integrating Credit Suisse.

05.08 / 03:45

Target Reuters CEO Software UBS Inside UBS nears major investment bank restructuring -sources

UBS Group AG is poised to make sweeping changes to the senior ranks of its investment banking division globally as soon as Monday, marking a new milestone in the process of integrating Credit Suisse, people familiar with the matter said. The changes are aimed at producing unified teams following the completion of UBS's emergency takeover in June of Credit Suisse. The changes are broad and involve several dealmaking groups, including healthcare, consumer/retail, financial sponsors and equity capital markets, the sources said.

29.07 / 01:45

UBS UBS Credit Suisse merger: UBS to fire hundreds of Credit Suisse bankers — report

UBS Credit Suisse merger layoffs: More than hundred Credit Suisse investment bankers might have to face the layoff challenge in near ter. As per the Swiss weekly HandelsZeitung report published on Friday, UBS has begun the implementation of UBS Credit Suisse merger plans. In this exercise, UBS may fire investment bankers of Credit Suisse.

24.07 / 19:09

UBS Ex-UBS wealth chief Tom Naratil joins Lightyear Capital

Tom Naratil, a former senior executive at UBS, is back in the wealth management industry, this time as an operating partner for a fund managed by Lightyear Capital, a private equity manager that has long focused on private investments in wealth management shops and broker-dealers.

24.07 / 17:35

Provident Action UBS UBS to pay $387M in fines linked to Credit Suisse’s dealings with Archegos

UBS Group will pay a total of about $387 million in fines related to misconduct by Credit Suisse Group in its dealings with Archegos Capital Management.

17.07 / 10:13

Reuters Strategy UBS AXA Credit Suisse Ltd appoints Daniel Hunziker as Head of Corporate Banking while Andreas Gerber takes a break

leadership within its Corporate Clients area. Daniel Hunziker, who currently serves as the Head of Institutional Clients and is a member of the Executive Board, will now also take over the leadership of the Corporate Clients business, effective immediately, in addition to his current role. Also read: Insurer Swiss Re nominates new chairman after Sergio Ermotti resigns to lead UBS The appointment of Daniel Hunziker comes as Andreas Gerber, the current Head of Corporate Banking and a member of the Executive Board at Credit Suisse (Switzerland) Ltd., would be departing from the company.

12.07 / 08:33

Reuters Digital Strategy UBS AXA Patrick Swiss Insurer Swiss Re nominates new chairman after Sergio Ermotti resigns to lead UBS

leadership role at UBS. The reshuffling of positions is a result of the ongoing aftermath of the Swiss authorities' intervention to rescue Credit Suisse through a shotgun merger with UBS, leading to new management taking charge. Jacques de Vaucleroy, a Belgian executive who previously held management positions at French insurer AXA and Dutch bank ING, has been serving as the acting chairman since Ermotti stepped down in April.

03.07 / 04:13

COST UPS UBS UBS aims to avoid using $10 bln Credit Suisse backstop amid backlash

UBS Group AG is aiming to avoid using a $10 billion backstop for Credit Suisse amid a backlash, the Financial Times reported on Sunday. UBS executives are hoping to announce that the bank will not call on the government backstop when it publishes its second-quarter results on Aug.

12.06 / 07:35

Landmark UBS Takeover Seal UBS and Credit Suisse seal landmark takeover

UBS's takeover of Credit Suisse has officially closed, sealing the biggest banking deal since the financial crisis.

details regarding Sergio Ermotti

Who is Sergio Ermotti?

Sergio Ermotti is a public personality featured in various news reviews related to trending topics.

Why is Sergio Ermotti attracting attention?

Sergio Ermotti frequently draws public interest due to public appearances, which captures media coverage.

Where can I find the latest news about Sergio Ermotti?

Our website has a dedicated section featuring all coverage related to Sergio Ermotti. We continuously monitor developments and update the information promptly.