Now the verdict is being passed. It took more than 22 years to come to terms with the war crimes committed by the Bosnian-Serbian General Ratko Mladic.
The largest Swiss bank announced that UBS Fondscenter, a fund distribution platform for institutional clients, will sell the majority to Clearstream, a company belonging to Deutsche Börse. Clearstream will acquire a package of 51.2 percent and UBS will have the option to include the rest at a later date Sell shares in Clearstream. The bank expects the sale, which is scheduled for completion in the second half of the year, to generate an after-tax profit of around $ 600 million. The hard core capital will increase by around 400 million dollars. Source: ntv.de “UBS sees signs that billionaires are increasingly turning their backs on the stock markets. (Photo: picture alliance / dpa) A UBS manager chats: As through the corona outbreak and share prices collapse, super-rich customers of the big bank hit, they buy shares, even take out loans. 50 million quickly becomes one billion.
Now the bull market seems to be coming to an end. Super-rich customers of the major bank UBS want to dry up the high profits they have made with equity investments in recent months. The proceeds will then be put into residential real estate, private equity and corporate deals, as UBS manager Josef Stadler told Reuters. These shifts were already emerging in Asia and should accelerate in the final quarter of 2020 and the first few months of the coming year. As a result, the stock markets could weaken in the remainder of 2020, predicted Stadler, who oversees business with the wealth management teams of super-rich families (family offices) at UBS. During the stock market slump in March, the richest customers would have with the UBS took out loans and invested the money in stocks. This strategy helped them outperform hedge funds and the overall market by the end of May, according to a UBS survey of 120 family offices.
Their fortunes averaged $ 1.6 billion. “For example, they bought US stocks, but not worth $ 50 million,” said Stadler. You bought stocks worth a billion or more to get back to your target equity quota. And they made a lot of money. “Source: ntv.de, bad / rts” “UBS posted a profit decline in the third quarter. The bottom line was a profit of 1.05 billion US dollars in the summer – 16 percent less than in the same period of the previous year, as reported by the largest Swiss bank, due to the continuing reluctance of wealthy private customers and negative interest rates, which reduced income in the core asset management business.
The investment bank also did worse. UBS boss Sergio Ermotti had already announced that he would like to redesign this area further. The cost of this will weigh around $ 100 million on earnings in the fourth quarter.cheap biology essay service
For the rest of the year, UBS was cautious. Geopolitical tensions and trade conflicts continued to cloud investor sentiment. The low interest rates weighed on earnings. Source: ntv.de “The Swiss Financial Market Authority (Finma) has given the green light for the emergency plans of the major domestic banks. At Credit Suisse, the authority judged the plans to be feasible, as Finma announced.
At UBS, the legal requirements are basically also met. However, there is a reservation that certain contingent liabilities are still too high. The emergency plans submitted by the likewise systemically important institutes PostFinance, Raiffeisen and Zürcher Kantonalbank, however, do not yet meet the legal requirements. Source: ntv.de “Has a new job at UBS since today : Iqbal Khan. (Photo: REUTERS) When it became known that top manager Khan was leaving Credit Suisse and hired by competitor UBS, the alarm bells rang for a senior employee. He arranged for the renegade to be shadowed. The affair now has personal consequences Affair surrounding the surveillance of former Credit Suisse top manager Iqbal Khan, two high-ranking employees of the major Swiss bank take their hats.
August 2019, when it became known that Khan was hired by rival UBS, the Chief Operating Officer (COO) overseeing the Head of Global Security Services. Both resigned with immediate effect. COO Pierre-Olivier Bouée had taken responsibility “for this matter,” said the major Swiss bank. Bouée testified that he ordered Khan to be monitored to protect the bank’s interests.
According to his statement, he decided this on his own and never discussed it with the CEO or with any other board member, the Chairman of the Board of Directors or the Chairman of the Audit Committee. Credit Suisse has appointed James Walker as its new COO. Credit Suisse boss Tidjane Thiam exonerated an investigation of the incident commissioned by the bank from the law firm Homburger. “The investigation by Homburger found no indication that the CEO approved the surveillance of Iqbal Khan or knew about it before September 18, 2019 after the surveillance was canceled,” said Credit Suisse. Tidjane Thiam remains CEO. (Photo: REUTERS) In September, various Swiss media reported that Khan and his wife had been followed in their vehicle by three men in a second car in downtown Zurich.
After Khan stopped and tried to take pictures of the men, they tried to snatch his cell phone from him. Approaching passers-by would have prevented this. The three persecutors were later determined by the police and identified as private detectives, it said. Khan was head of international asset management at Credit Suisse, but switched to competitor UBS on October 1, where he is the successor to ex-Commerzbank boss Martin Blessing as co-head of the Global Wealth Management division.
According to the money house, no evidence has been found that Khan, contrary to his contractual obligations, attempted to poach employees or clients of Credit Suisse. Source: ntv.de, fzö / DJ / rts “News and information at a glance. Collection of articles by n-tv.de on the subject of UBS The major Swiss bank UBS posted a slight decline in profits in the second quarter, but the institute expects further losses from its private equity business in the coming periods.
The Swiss financial group had a weak 2001 financial year. The result was below the analysts’ expectations and significantly below the previous year’s figure. In order not to block the way for Crossair, Credit Suisse and UBS do not want to increase their share in the Crossair restructuring case.
Swissair can count on state aid. That said on Wednesday evening a spokesman for the finance department after a meeting between Swissair boss Mario Corti, representatives of the two big banks UBS and Credit Suisse Group and two federal councilors of the Swiss government. UBS fared better than expected despite a sharp drop in earnings in the second quarter. Asset management grew faster than predicted. “The Swiss UBS is known as the” fortified bank for billionaires “. It addresses the richest people in the world. (Photo: REUTERS) According to the head of the global family offices of UBS, the price rally from March to May has the richest customers of the bank significant Returns brought in.
They took out loans in March and pumped billions into the stock markets. Now these rich customers have silvered their papers and put their money in “illiquid and private assets”, it is said. “In mid-March and mid-April we had record loans from important family offices who asked us for a balance sheet and then went on the market,” said Josef Stadler in an interview with Reuters. “For example, they bought US stocks, but they didn’t buy $ 50 million. They bought more than a billion of those stocks … and they made a lot of money.” Source: ntv.de “News and information at a glance. Collection of articles by n-tv.de on the topic of Unicredit The economic crisis in Turkey and the Italian budget dispute weigh on the major Italian bank Unicredit.
Movement in the European banking landscape: under the pressure of the political turmoil in Rome, a heavyweight in the Italian economy is considering a merger with the French, according to a newspaper report. UniCredit is Italy’s largest financial institution – and is in the middle of a restructuring. A merger with a competitor is not part of it. However, bank boss Mustier is squinting towards France. Rumors of a change in leadership at Germany’s largest bank?
All wrong, says Deutsche Bank boss Cryan. He wants to do all he can for the bank. The debate bursts in the middle of their restructuring – and brings the share further downhill. The major Italian bank Unicredit is taking big steps out of the crisis. In the middle of the reform process, the Hypovereinsbank parent is returning to profitability – and is aiming for a dividend.
With a new Express bond with a fixed coupon on UniCredit shares, investors can achieve an annual gross return of 4.75 percent over the next four years if the share price falls by up to 50 percent. The successor for Carsten Kengeter has been found: ex-investment banker Theodor Weimer will take over as CEO of Deutsche Börse at the turn of the year. The 57-year-old currently runs HypoVereinsbank. Carsten Kengeter, who is being investigated on suspicion of insider trading, will be relinquishing the management of Deutsche Börse at the end of the year.
A favorite for the successor is the ex-investment banker Theodor Weimer. He currently heads HypoVereinsbank. “” (Photo: imago images / Geisser) UBS is like Deutsche Bank and HSBC: The major Swiss bank has to revise its targets downwards. She cites the difficult market environment as the reason, such as record-low interest rates. UBS is already scaling back the financial targets it had set a year ago.
After the major Swiss bank tore its own bar with the 2019 financial statements, it is now lowering the targets for the period from 2020 to 2022. Group boss Sergio Ermotti is now aiming for a return on Common Equity Tier 1 capital of twelve to 15 percent, as previously announced by UBS the bank has set a figure of 17 percent by 2021. Ermotti is also less ambitious when it comes to the cost-to-expense ratio: In the past 2019 financial year, the institute generated a profit of 4.3 billion US dollars, five percent less than in the previous year. Nevertheless, the bank exceeded the analysts’ estimates.
The dividend is said to be $ 0.73 per title. In the first half of 2020, the institute is aiming for further share buybacks with a volume of 450 million dollars. Additional buybacks would be considered in the second half of the year. UBS will not set a new money growth target for its core asset management business in the future. The outlook for the first quarter was cautiously optimistic.
Investors have become more willing to take risks, which is likely to have a positive effect on transaction income. The world’s largest manager of private assets justified the lowering of the medium-term targets with the more difficult market environment such as record-low interest rates. Arch-rival Credit Suisse had already reduced the targets in December. Europe’s largest financial institution, the British HSBC, cut its forecasts at the end of October, and Deutsche Bank has also become more cautious about its target return of eight percent by 2022. Deutsche Bank boss Christian Sewing recently described this as “more ambitious”.
On the other hand, it is already clear that Germany’s largest financial institution made a loss of several billion euros due to the expensive restructuring of the group in 2019. The US banks are in much better shape. For example, Morgan Stanley raised its goals for the next few years after a jump in profits in the final quarter last week. Source: ntv.de, wne / DJ “Sergio Ermotti (Photo: picture alliance / dpa) UBS boss Sergio Ermotti is defeated by the major Swiss bank The bank cut the salary of its boss, who was leaving at the end of October, to CHF 12.5 million from CHF 14.1 million in the previous year. UBS made the record fine imposed on the bank in the first instance in the tax proceedings in France, The disappointing share price development and the lower return on equity were responsible for the decline. Ermotti’s remuneration for 2019 consisted of 2.8 million francs base salary and a bonus of 9.7 million francs. The decline reflects the asset manager’s business performance.
The low interest rate environment and price pressure had pushed UBS’s profits by five percent to 4.3 billion dollars last year. Source: ntv.de “Ratko Mladic before the UN war crimes tribunal. (Photo: picture alliance / dpa) Ratko Mladic stands for The worst crime in Europe since World War II – the Srebrenica massacre. He has stood before the Hague UN War Crimes Tribunal for more than six years. Now the verdict is being passed. It took more than 22 years to come to terms with the war crimes of the Bosnian Serb General Ratko Mladic , because on July 24, 1995, he was charged with genocide, crimes against humanity and numerous war crimes before the International Criminal Court in The Hague.
This Wednesday, the Mladic case will finally be drawn to a close when the UN war crimes tribunal announces its verdict against the 75-year-old. Richard Holbrooke on Mladic: “One of those terrible characters that history brings out.” (Photo: picture alliance / dpa) Mladic is the living symbol of the bloodshed in the crumbling Yugoslavia of the 1990s. The worst of the war was in Bosnia-Herzegovina. Around 100,000 people died in the former Yugoslav republic from 1992 to the Dayton / Ohio Peace Agreement in November 1995. “Hollywood couldn’t find a more convincing actor for a war criminal,” said the US representative for Bosnia, Richard Holbrooke, who died in 2010 : “He is one of those terrible characters that history brings up again and again: a charismatic murderer.” It was a long time before the arrest of Mladic, who was charged with the worst war crimes in Europe since the end of the Second World War.
He was on the run for almost 16 years before he was arrested on May 26, 2011 on the property of a relative in Lazarevo, northern Serbia, and only one day later transferred to The Hague – a Belgrade court had immediately approved the transfer to the Netherlands, although Mladic’s supporters in his home country protested. Mladic with Radovan Karadzic (1993). (Photo: picture alliance / dpa) For Serbia, Mladic was the bargaining chip for a possible acceleration of the EU accession negotiations.