Julius Baer said Friday that it is creating a new unit for direct private investments for its ultra-wealthy clients, with the new division’s head joining from Switzerland’s largest bank, UBS.
DBS’ Hong Kong business tapped Peter Tung, a veteran of Morgan Stanley and UBS, to head its private banking unit for greater China as financial firms compete for growth in a cooling market.
Australia’s banks will extend loan repayment deferrals for up to four months to help consumers struggling to pay off their debt through the coronavirus pandemic and to avoid a “cliff” come September, when the original relief program was set to expire, the country’s banking trade association said Wednesday.
UBS U.K. Pension and Life Assurance Scheme has covered £1.4 billion ($1.8 billion) of defined benefit pensioner liabilities through a longevity swap with Zurich Assurance.
UBS launched a predictive algorithm on Monday designed to quantify the likelihood of a firm being targeted by activist investors, a tool the bank says will protect public companies from such campaigns amid market uncertainty.
China’s securities regulator is planning to grant securities licenses to commercial banks as part of a wider effort to help domestic businesses compete with foreign rivals, Chinese business news site Caixin reported on Sunday.
Zurich-based UBS on Friday launched a new platform to link private clients with institutional mortgage financing and information for owner-occupied housing, calling it a “central part” of the bank’s digital strategy in Switzerland.
UBS said Wednesday that it is investing $440 million in a sustainable investment fund offered by Rockefeller Asset Management, expanding the socially conscious investment options it gives to clients.
U.K.-based Aviva is partnering with Fenergo to overhaul its client onboarding process and replace its current Know Your Customer, Anti-Money Laundering and customer due diligence systems and services, the companies said on Wednesday.
UBS said on Tuesday that it is adding accounts from several third-party asset managers, including Goldman Sachs, Invesco, PIMCO and Franklin Templeton, to its lineup for U.S. wealth-management clients.
UBS Group may become the next bank to adopt a permanent work-from-home policy for its employees, Chief Operating Officer Sabine Keller-Busse said Monday.
Dutch banking group ING said Friday that its current chief risk officer, Steven van Rijswijk, will succeed Ralph Hamers as CEO and chairman of the Executive Board, being tasked to lead the bank through a global pandemic and to continue the bank’s aggressive push into digital banking.
U.S. Bank has tapped veteran financial management executive Beth Lawlor, who most recently held a leadership post in UBS’ wealth management unit, to be the new president of its Private Wealth Management division, the bank said Thursday.
Piraeus Bank, Greece’s largest lender, has hired JPMorgan and UBS to sell two portfolios of bad loans worth around €7 billion ($7.8 billion) as part of the struggling bank’s plan to weather the coronavirus pandemic, Reuters reported Friday.
Vanguard Group, the world’s largest mutual fund manager, threw its shareholder voting power into supporting proposals for reduced emissions and measures to combat climate change at heavy greenhouse gas emitters, such as shipping companies UPS and J.B. Hunt and oil company Ovintiv.
Despite facing challenges with credit quality and wealth management, UBS and Credit Suisse are poised to handle the tough economic climate brought about by the COVID-19 pandemic, the Swiss National Bank said in a report released Thursday.
Australian bank Westpac said on Wednesday that it has offered to sell its remaining 9.5% stake in the Pendal Group after years of paring down its equity in the asset manager.
Komainu, a new custodian to vet and safeguard digital assets for financial institutions created by Nomura Holdings, CoinShares and Ledger, named four top executives on Wednesday, providing substantial traditional banking expertise to the venture as it prepares to begin doing business.
Switzerland-based UBS Asset Management has established another in a line of onshore fixed-income funds in the world’s second-biggest bond market.
Members Exchange is receiving an investment from Citigroup, making it the latest big financial institution to become a shareholder in the new stock exchange.