Archive – Banking & Fintech

National Bank watches currency-inflation link

This content was published on May 9, 2001 Speaking in Zurich to the Association of Swiss Businesses in Germany, Roth said that the Swiss National Bank was looking at the currency exchange rate “to the extent that it effects the inflation forecast”. He also said that in recent years the SNB had been fortunate that exchange rate levels had contributed to price stability…

Profit down but turnover up at Swissmetal

This content was published on May 9, 2001 However, the group said in a statement on Wednesday that turnover grew by seven per cent over the previous quarter, reaching SFr51 million. The company added that sales were still benefiting from the extremely strong order book it had at the end of last year. Since then, orders have declined, slipping seven per cent between…

Credit Suisse Private Banking and Concord International launch joint venture in Egypt

This content was published on May 9, 2001 CSPB and its partner are setting up Swiss Egyptian Portfolio Management, which will provide asset management services for high net worth private clients in Egypt. Based in New York, Concord is one of the leading managers of Egyptian securities in the world, with $700 million (SFr1.2 billion) invested in Egyptian securities through its Cairo office.…

Roche financial chief fired

This content was published on May 8, 2001 From its headquarters in Basel, Roche said that Anton Affentranger would step down at the end of the month. No reason for the decision has yet been given. Roche thanked Affentranger for his “valuable services, high level of competence and professionalism”. His position is to be temporarily filled by Bernd Wolff and Erwin Schneider. The…

Wolf confirmed in canton Graubünden

This content was published on May 8, 2001 Scientists at the university of Lausanne said on Tuesday that an examination of DNA taken from the animal’s excrement proved the predator was a wolf, and that it had come over the border from Italy. Several sheep, deer and goats have been killed since early March in and around Bergell in the south of Graubünden.…

Kudelski buys TicketCorner from UBS

This content was published on May 8, 2001 UBS said in a statement on Tuesday that all 150 staff of TicketCorner would maintain their jobs in the deal. No financial details of the transaction have been released. It said that TicketCorner was not part of the bank’s core business and the sale was in line with current strategy. The takeover by Kudelski will…

Sulzer product recall pushes sales down in US

This content was published on May 8, 2001 The company announced on Tuesday that net income rose by 10 per cent in the first quarter to SFr360 million ($207.02 million). It declined to give a profit forecast for 2001 as a whole, saying that the recall and the company’s separation from the Sulzer Corporation could “generate additional exceptional costs in future accounting periods”.…

Vontobel publishes inquiry details

This content was published on May 8, 2001 The total costs of y-o-u will be up to SFr250 million, the bank announced on Tuesday. An in-depth inquiry by the Vontobel Group’s auditors, Ernst and Young, listed a number of serious failings in their report. Last month, heads rolled at Vontobel, with the board of directors dismissing Jörg Fischer, the chief executive of Vontobel…

Novartis takes 20 per cent stake in rivals Roche

This content was published on May 7, 2001 At close of trading on Monday, Roche’s shares had increased by 5.7 per cent, to SFr152, while Novartis’ shares had gone up by 2.1 per cent, to just over SFr68. Novartis announced it would pay Swiss financier Martin Ebner’s BZ Group SFr151 per share for the 20 per cent stake. Novartis’ chairman and chief executive,…

Good start for Calida

This content was published on May 7, 2001 Supplying around a quarter of the nation’s underwear needs, the company revealed operating profit of SFr3.1 million ($1.8 million) over the first quarter of 2001, up more than 50 per cent. Sales also increased, climbing 11 per cent higher to SFr54 million in the first three months of the year. “Business is developing positively, but…

Archive – Banking & Fintech

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Archive – Banking & Fintech

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National Bank watches currency-inflation link

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Profit down but turnover up at Swissmetal

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Credit Suisse Private Banking and Concord International launch joint venture in Egypt

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Roche financial chief fired

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Wolf confirmed in canton Graubünden

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Kudelski buys TicketCorner from UBS

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Sulzer product recall pushes sales down in US

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Vontobel publishes inquiry details

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Novartis takes 20 per cent stake in rivals Roche

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Good start for Calida

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