English
French
German
Italian
Russian
Spanish
UBS looks to bring Naratil back and mulls Swiss bank spin-off – NZZ
UBS looks to bring Naratil back and mulls Swiss bank spin-off – NZZ By Reuters
Breaking News
‘;
Published Apr 30, 2023 07:44AM ET
(C) Reuters. A logo of Swiss bank UBS is seen in Zurich, Switzerland March 29, 2023. REUTERS/Denis Balibouse
ZURICH (Reuters) – As UBS’s takeover of former rival Swiss bank Credit Suisse nears completion, details are emerging of what the new merged bank will look like.
UBS is working towards spinning off the Swiss part of Credit Suisse and having the business’s current head, Andre Helfenstein, run it, NZZ am Sonntag reported on Sunday.
The Swiss newspaper cited a source as saying UBS had come around to the idea of a spin-off, which it initially deemed “out of the question”, amid growing public and political pressure.
UBS executives have repeatedly said that all options were still on the table concerning Credit Suisse’s domestic business.
NZZ also reported several sources as confirming that former co-head of UBS’s global wealth management division, Tom Naratil, would rejoin the bank, having stepped down in October.
UBS declined to comment.
UBS looks to bring Naratil back and mulls Swiss bank spin-off – NZZ
Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
