Archive – Banking & Fintech

Remaining ‘hit list’ banks sweat over US verdicts

This content was published on May 22, 2014 Zurich Cantonal Bank (ZKB) was named as Switzerland’s third ‘too big to fail’ bank last year owing to its high share of domestic credit it offers to individuals and companies. Basel Cantonal Bank (BKB) plays a vital role in Basel city and canton while Julius Bär, the third biggest Swiss wealth manager, and Pictet are…

‘Credit Suisse must offer an honourable resignation’

This content was published on May 22, 2014 It was the wrong decision. While Mr Dougan was not personally in charge of its rogue private bankers, he is responsible for Credit Suisse itself. Instead, having professed his “deep regret”, he made the $2.6 billion (CHF2.5 billion) settlement sound more like a parking fine than the kind of catastrophe that brought down Arthur Andersen…

Switzerland remains competitive business ‘island’

This content was published on May 22, 2014 The index of 60 countries put Switzerland in between the United States – which held the top spot – and Singapore at number three. Switzerland also came in second place last year. Switzerland, along with Singapore and Hong Kong, which held position four, continued to prosper thanks to exports, business, efficiency and innovation, an IMD…

‘Dougan and Rohner rightly remain at the helm’

This content was published on May 21, 2014 However, he wonders about Board Chairman Urs Rohner’s former role as the bank’s top legal counsel. swissinfo.ch: Credit Suisse, the Swiss government, the banker’s association and the National Bank have all welcomed the news of the deal. How do you view the outcome? Is it good for the bank and for Switzerland as a financial…

Conviction casts a pall over Credit Suisse

This content was published on May 21, 2014 In the short term, the main question is whether Credit Suisse’s guilty plea will deter other financial institutions from doing business with it – pension funds, in particular, sometimes have provisions preventing them from working with convicted entities. In recent weeks, Credit Suisse has spent a lot of effort going through the possible ramifications of…

Media mulls Credit Suisse verdict

This content was published on May 21, 2014 “Once again, the Swiss banking sector can thank the cabinet and the finance minister. CS heads Rohner and Dougan should actually give Eveline Widmer-Schlumpf a portion of their fat bonuses, which they’ll probably get this year, too,” suggested German-language tabloid newspaper Blick – acknowledging the fact that this would hardly happen. The Aargauer Zeitung also…

CS verdict seen as end of dark chapter

This content was published on May 20, 2014 The Swiss government said in a statement on Tuesday it welcomed the agreement, “which resolves the long-standing conflict between the Department of Justice and Credit Suisse”. “What is also particularly important is that there will be no licence withdrawals with this solution and the use of emergency legislation is not an issue,” it added. Swiss…

Credit Suisse admits US tax evasion guilt

This content was published on May 20, 2014 The bank admitted to a US court that it set up sham companies to enable clients to unlawfully funnel assets away from the Internal Revenue Service (IRS). It agreed on Monday to pay out $1.8 billion to the federal authorities, $715 million to the New York state banking regulator and $100 million to the Federal Reserve. The bank…

UBS division chief: Battle lines are drawn in US

This content was published on May 16, 2014 “My conclusion after a month was if we didn’t act decisively 16% was more likely to be 25% than it was 10%,” says Mr McCann, who was hired from Merrill Lynch in 2009 to run the division and now also runs the group’s investment bank in the Americas. Mr McCann would cajole the top producers…

Compensation claim over the pill turned down

This content was published on May 15, 2014 The young woman’s family claimed she developed a pulmonary embolism after starting to take the contraceptive pill, Yasmin, two months earlier. She was 16 when her gynaecologist prescribed it to her. The girl suffered brain damage as a result of a lack of oxygen, caused by the blockage in her artery. The family claimed the…

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Archive – Banking & Fintech

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Archive – Banking & Fintech

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Remaining ‘hit list’ banks sweat over US verdicts

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‘Credit Suisse must offer an honourable resignation’

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Switzerland remains competitive business ‘island’

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‘Dougan and Rohner rightly remain at the helm’

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Conviction casts a pall over Credit Suisse

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Media mulls Credit Suisse verdict

More

CS verdict seen as end of dark chapter

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Credit Suisse admits US tax evasion guilt

More

UBS division chief: Battle lines are drawn in US

More

Compensation claim over the pill turned down

Popular Stories

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