UBS Group AG Chairman Colm Kelleher said he will manage down Credit Suisse Group AG’s investment bank, curtailing a source of losses in recent years in a move that potentially spells the end for plans to carve out parts of the unit under the CS First Boston brand.
John Lewis Partnership Plc is considering selling a minority stake, diluting its employee-owned structure, as the cost-of-living crisis puts pressure on the UK retailer to seek new investment.
Holders of Credit Suisse Group AG bonds suffered a historic loss when a takeover by UBS Group AG wiped out about 16 billion Swiss francs ($17.3 billion) worth of risky notes.
With the fate of Credit Suisse Group AG finally decided, investors were getting ready for another gut-wrenching week of trading.
From as much as $96 billion to around $3 billion: Credit Suisse Group AG is poised to join the historic ranks of finance giants sold at fire-sale prices in the grip of a market crisis.
Morgan Stanley and JPMorgan Chase & Co. advised UBS Group AG on its historic takeover of battered crosstown rival Credit Suisse Group AG in a government-brokered deal aimed at containing a financial crisis.
UBS Group AG agreed to buy Credit Suisse Group AG in a historic, government-brokered deal aimed at containing a crisis of confidence that had started to spread across global financial markets.
UBS Group AG Chairman Colm Kelleher said that the Swiss lender is “determined” to keep hold of Credit Suisse Group AG’s local business after the takeover.
UBS Group AG Chairman Colm Kelleher said he will rein in Credit Suisse Group AG’s investment bank, a unit that has racked up losses in recent years.
UBS Group AG agreed to buy Credit Suisse Group AG in a government-brokered deal aimed at containing a crisis of confidence that threatened to spread across global financial markets.
