UBS appeals against French court’s money laundering ruling Money laundering UBS has filed an appeal against the decision by France’s Supreme Court last week to uphold the Swiss bank’s conviction for money laundering. It comes just a week after a Paris appeals court slashed the bank’s fine for allegedly helping wealthy customers in France evade taxes to £1.5bn – down from an original penalty of [...]
UBS swipe new finance chief Sarah Youngwood from rival JPMorgan Banking UBS have pinched a JPMorgan executive as its new chief financial officer, as part of major shake-up of senior management at the biggest bank in Switzerland. The announcement comes shortly after UBS also named Colm Kelleher, former president at Morgan Stanley, to succeed Axel Weber as chairman of the world’s biggest wealth manager when his [...]
UBS: Ex-Morgan Stanley president Colm Kelleher to succeed Axel Weber as chair Succession Colm Kelleher has been proposed as the next chair of UBS, the company confirmed this morning.
KPMG eyes larger piece of UK’s asset management pie as it lures EY and UBS veterans November 8, 2021 Accountancy giant KPMG is ramping up its efforts in the UK’s wealth and asset management space as the firm has appointed a range of new partners. KPMG said it has appointed Dean Brown as a partner and Shelley Doorey-Williams as an Associate Partner in its market leading Wealth and Asset Management practice. Brown will support [...]
UBS chief: Staff who choose not to get vaccine can work from home rather than office September 2, 2021 UBS employees who don’t want to receive the Covid vaccine can apply to work from home instead, the Swiss bank’s CEO Ralph Hamers announced today, indicating a more flexible approach than some banking rivals. Some banks, including Deutsche Bank, Morgan Stanley and Goldman Sachs, have mandated vaccines for staff returning to their desks in some [...]
Climate change activists occupy Zurich’s financial district August 2, 2021 Police this morning began clearing a group of Climate Strike activists occupying the heart of Zurich’s financial district. Around 200 activists from the Climate Strike Switzerland group gathered outside the UBS and Credit Suisse headquarters to protest the financing of environmentally damaging fossil fuel projects. According to “Rise Up for Change”, a group bringing together [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex-UBS and Canary Wharf Group chiefs join construction-tech firm British construction technology company Modulous has bolstered its London workforce with former Canary Wharf and UBS leads this week. Former director of the Canary Wharf Group Chris [...]
Credit Suisse could seek UBS merger after Greensill and Archegos scandals June 25, 2021 Credit Suisse’s top management are under pressure to overhaul the scandal-hit Swiss bank and a merger with rival UBS may be on the cards. Reuters today reported that three people familiar with the bank’s thinking are concerned that it could be challenged by investors demanding its break-up. This has led the sources to believe that [...]
Exclusive: Meet the former UBS and JPMorgan heavyweights shaking up private banking May 28, 2021 As the economy is slowly switching into recovery gear, activity in the City and beyond is starting to pick up again. That is also the case for Vestrata, a relatively new fintech player that is taking the wealth management and private banking space by storm by bring machine learning and automated risk metrics into the [...]
EU slaps £319m fine on UBS, Nomura and UniCredit for bond cartels May 20, 2021 European Union antitrust regulators charged UBS, UniCredit and Nomura with a fine of £319m for their connections with a European government bond trading cartel. The sizable fines are the most recent punishment of the financial industry for its alleged involvement in foreign exchange cartels, Euribor and Libor benchmark cartels, and bonds cartels. The European Commission [...]