A ‘historic' result but still a ‘construction site': Analysts react to blowout UBS earnings

Verstraete suggested that severing any financial dependence on the Swiss government and central bank had freed up UBS to take the decision on absorbing Credit Suisse's domestic banking unit without being subject to any political pressure. The prospect of further mass layoffs may be unpopular among some portions of the political and public sphere in Switzerland.

UBS on Thursday announced plans to further wind down non-core units of Credit Suisse's ailing investment bank, wealth management and asset management divisions, which it said are"not aligned with our strategy and policies."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European markets open higher following UBS earnings; UBS up 6%European markets opened higher as investors assess UBS earnings.
Source: CNBC - 🏆 12. / 72 Read more »

European markets open higher following UBS earnings; UBS up 5%European markets opened higher as investors assess UBS earnings.
Source: NBCLA - 🏆 319. / 59 Read more »

'Pain trade': UBS CIO warns of bear trap as Chinese stocks riseAdrian Zuercher, a chief investment officer at UBS, also said there could be a 'tactical trade' in the coming weeks.
Source: CNBC - 🏆 12. / 72 Read more »

UBS Earnings Could Reveal Key Details about Credit Suisse AcquisitionInvestors will be looking for more transparency around how UBS is managing the integration of Credit Suisse, the former rival it acquired at a fire sale...
Source: MarketWatch - 🏆 3. / 97 Read more »