Credit Suisse has axed thousands of jobs as part of spending cuts. Now, the Swiss bank is moving to cut a layer of management in Switzerland – a move which is a blueprint for its plans elsewhere.
EFG International shares fell as much as 5.9 percent on Tuesday after a Taiwanese court ordered the Swiss private bank to return more than $193.8 million related to a disputed loan.
UBS’ private banking arm was roiled last month by the exit of long-standing boss Juerg Zeltner. Now, the Swiss bank is making another major change at its flagship 2.6 trillion wealth management unit, finews.asia can report exclusively.
Former Julius Baer chief executive Boris Collardi said on Thursday the chance to go from employee to entrepreneur drove his decision to quit his job to become a partner at Geneva-based rival Pictet Group.
A former senior private banker for UK-listed Standard Chartered has been charged with bribery by authorities in Hong Kong, media reports said.
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