UBS potentially buying Credit Suisse

[VorZakone]

Would this even be a healthy situation for Switzerland? 1 powerful domestic bank?

March 19 (Reuters) - UBS (UBSG.S) is close to finalizing a deal to buy rival Swiss bank Credit Suisse (CSGN.S), a source familiar with the matter told Reuters.

The deal is valued at more than $2 billion, after UBS increased its offer, the Financial Times earlier reported. The Credit Suisse chair declined to comment when reached on his cell phone.

https://www.reuters.com/business/cr...-talks-ubs-seeks-swiss-assurances-2023-03-19/

 

[BD]

I'm just some normal dope who knows nothing about banking or investing, and have all my money in a UBS current account. Should I be concerned?

 

[Rooney24]

I'm just some normal dope who knows nothing about banking or investing, and have all my money in a UBS current account. Should I be concerned?

Your only concern would have been if it was at CS

 

[UweBein]

Done dealio

I have read somewhere that CS have paid something like 40 Billion on bonuses over the last 20 years. Makes you wonder what they were paying them for?

 

[prateik]

Done dealio

I have read somewhere that CS have paid something like 40 Billion on bonuses over the last 20 years. Makes you wonder what they were paying them for?

Glazernomics

 

[Kaush949]

Would this even be a healthy situation for Switzerland? 1 powerful domestic bank?


https://www.reuters.com/business/cr...-talks-ubs-seeks-swiss-assurances-2023-03-19/

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[Bert_]

I thought firewire was going to be the standard going forward. Damn you Apple and your lies!

 

[Revan]

It is crazy considering that just a few years ago they were similar size as UBS, and now are bought by them for peanuts.

Bad management can even make banks go bankrupt, as weird as it may sound.

 

[MTF]

It is crazy considering that just a few years ago they were similar size as UBS, and now are bought by them for peanuts.

Bad management can even make banks go bankrupt, as weird as it may sound.

I'd say they can especially make banks go bankrupt, as the business model with all it's leverage (and that is significantly down vs 2008 but still inherent to banking) means that banks are particularly unstable.

 

[UweBein]

This is no joke.
Credit Suisse will stay pay the annual bonuses on 24th March.

I am definitely working in the wrong industry.

 

[Superden]

This is no joke.
Credit Suisse will stay pay the annual bonuses on 24th March.

I am definitely working in the wrong industry.

Ubs are actually paying sweeteners on top to retain Cs staff.

 

[rimaldo]

Ubs are actually paying sweeteners on top to retain Cs staff.

the secrets must stay secret.

 

[Rooney24]

I think I read somewhere that senior management at CS won’t be getting bonuses. It will just be the “normal” (I can’t think of a better word) workers who are getting bonuses.

I’m not sure it’s that big a deal because 50% of CS employees are looking at being in the job center in the next few months.

but it makes a bad headline for sure

 

[11101]

I am surprised the Swiss have allowed it to happen. One big bank is no good for competition, but then they don't care about the average person and the service in Swiss banks is already shite.


I wonder if this is the first time we are seeing ESG working as intended. CS have been getting hammered in recent years, largely because its become accepted that they're dodgy as feck when it comes to money laundering. Investors and customers had become wary of them. DB are also going through it for the same reasons.

 

[Raoul]

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