- Reuters
UBS reaches milestone in Credit Suisse absorption as parent companies merge
UBS on Friday completed the merger of the main parent companies of the Swiss bank and Credit Suisse, which it acquired last year after its longtime rival collapsed, putting an end to one of the bastions of the country's financial sector. Shares in UBS ticked upwards after the business announced it had succeeded to all the rights and obligations of Credit Suisse, including all outstanding Credit Suisse debt instruments, and were trading up by 1.35% at around 1106 GMT. The merger concluded within the planned timeline and was facilitated by strong support from global regulators, said UBS, whose shares have jumped about two-thirds since it snapped up Credit Suisse for 3 billion Swiss francs ($3.3 billion).
- Benzinga
UBS Wealth Management Role Split In Executive Board Reshuffle
UBS Group AG (NYSE:UBS) shares are trading higher after the bank disclosed that it would split its top wealth management role to streamline its executive board. UBS announced several changes to its Group Executive Board (GEB), effective 1 July 2024. The bank appointed Iqbal Khan as the President of UBS Asia-Pacific, effective 1 September 2024, along with the co-president of the Global Wealth Management (GWM) division. UBS also named Rob Karofsky as Co-President of UBS investment bank, head of th
- Barrons.com
UBS Executive Shake-Up Smooths Runway for Potential Successors to CEO Ermotti
The bank named three leaders to its executive board and said that Naureen Hassan, the president of UBS Americas, will retire two years after joining the company.
