TMX Group, the operator of Canadian stock exchanges, is set to acquire VettaFi, a major player in the exchange-traded fund (ETF) industry. The deal, valued at $1.03 billion, will see TMX Group acquire the remaining 78% of VettaFi’s common units. This acquisition will enhance TMX Group’s information business and provide new capabilities in the ETF […]
The Swiss bank, UBS, is intensifying its efforts to reclaim millions of bonus payments that were made to senior executives at Credit Suisse before its collapse. UBS has contacted hundreds of bankers from the acquired Credit Suisse and offered them multi-year payout plans to recover a portion of the 1.2 billion Swiss francs in tied-up […]
Swiss asset manager GAM is expected to report another significant loss in 2023, as its new strategy will take time to take effect. Despite successfully fending off a takeover attempt by Liontrust and implementing a rescue plan with new major shareholder Newgame and French investor Xavier Niel, GAM is still facing financial challenges.The company anticipates […]
The Swiss industrial company R&S Group has defied the challenging IPO environment by going public through a Spac transaction. The company, specializing in electrical engineering, experienced a strong start on the Swiss stock exchange, with its shares closing the day with a nearly 13% increase. This marks the first “real” IPO with capital raising on […]
The UBS has formed a new unit called the “Executive Client Group” consisting of nine bankers who will be responsible for managing the bank’s most important corporate clients worldwide and negotiating directly with company executives. The unit will be led by Ros L’Esperance and will report directly to Rob Karofsky, the head of UBS Investment […]
EFG, a Swiss bank, has made three new high-level appointments in Asia as part of its strategic efforts to expand its business in the Asia-Pacific region. The bank aims to strengthen its regional presence by hiring individuals with extensive experience in Swiss banking.Christina Wong has been appointed as Senior Client Partner based in Hong Kong. […]
A German insurance group, Signal Iduna, is reported to have almost 1 billion euros in outstanding loans to the troubled Signa Group, an investment firm owned by René Benko. Other insurers, including Ergo, R+V, Allianz, and Volkswohl-Bund, have also provided significant loans to Signa, totaling hundreds of millions of euros. Despite the financial difficulties faced […]
A major shakeup occurred at Signa Financial Services as their operational chief was removed from his position amidst allegations of serious misconduct. This small but influential firm, consisting of a handful of financial experts and trusted associates of René Benko, is located in Zurich, Switzerland, just a stone’s throw away from Paradeplatz.Signa Financial Services, a […]
Experienced private bankers at Credit Suisse in Switzerland are still leaving for rival banks, despite UBS’s introduction of retention bonuses averaging CHF 100,000. The integration of the two banks last August provided clarity for Credit Suisse employees, but it hasn’t been enough to prevent front-line staff from seeking opportunities elsewhere. Recently, a team of three […]
Julius Bär, a supposedly conservative private bank, is reportedly facing a potential disclosure regarding its expected profits. The bank’s profits are expected to be lower than anticipated due to a 600 million credit for René Benko’s Signa Group. It is speculated that the bank may have incurred losses from other private debt clients as well.The […]
