News Formal

UBS winds down Credit Suisse Global Markets business

  • 📰 SaltWire Network
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 63%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

ZURICH (Reuters) - Credit Suisse said it will reduce the volume of new markets business from Sept. 22 while UBS integrates its former rival, the bank ...

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSWatch on

ZURICH - Credit Suisse said it will reduce the volume of new markets business from Sept. 22 while UBS integrates its former rival, the bank said in a letter sent to clients, as the 166-year-old firm winds down trading in global securities. Increases in positions, or maturity extensions, will now not be possible for clients at Credit Suisse, which trades a wide variety of assets from stocks to currencies."Going forward, UBS shall focus on consolidating new client activity through UBS legal entities," the letter seen by Reuters on Wednesday said.

The move is a further step along UBS's tricky path to absorbing its fallen rival in the first-ever merger of two global systematically important banks. UBS will report its second-quarter earnings on Thursday, its first results since taking over Credit Suisse earlier this year.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.
Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 45. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

UBS, Swiss finance blog settle Credit Suisse legacy lawsuitUBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, the publication said on Tuesday. As part of the settlement, Inside Paradeplatz agreed to delete or amend user comments and three passages from posts. Credit Suisse launched a lawsuit against the blog, widely read in Swiss finance circles, in December over user comments left under posts.
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

UBS, Swiss finance blog settle Credit Suisse legacy lawsuitZURICH (Reuters) - UBS and Inside Paradeplatz have settled a lawsuit initially brought against the popular Zurich based finance blog by Credit Suisse, ...
Källa: SaltWire Network - 🏆 45. / 63 Läs mer »