UBS promised retention packages to wealth-management staff in Asia at Credit Suisse , two people with knowledge of the matter said, as the bank tries to stem a talent exodus after the takeover of its former Swiss rival.
, two people with knowledge of the matter said, as the bank tries to stem a talent exodus after the takeover of its former Swiss rival.
In a town hall address in Hong Kong on Friday, Iqbal Khan, UBS's president for global wealth management, also focussed on stabilising the Credit Suisse Asia team and boosting confidence, one of the two sources said. In his address, Khan said the top performers at the Credit Suisse wealth business will get retention packages, the second source said. The details of the retention package were not immediately known.Spokespeople for Credit Suisse and UBS declined to comment.Khan, a former top Credit Suisse banker, held the town hall along with Francesco de Ferrari, Credit Suisse's CEO for wealth management, said the first source and a third person with knowledge of the matter.
UBS said on Sunday it would pay 3 billion Swiss francs for 167-year-old Credit Suisse and assume at least $5.4 billion in losses in a deal backed by a massive Swiss government guarantee and expected to close by the end of 2023. Reporting by Xie Yu in Hong Kong and Scott Murdoch in Sydney; Editing by Sumeet Chatterjee, Christian Schmollinger and Gerry Doyle
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
The Future of UBS Rests With Credit Suisse Customers in AsiaCan UBS make its acquisition of Credit Suisse work? A key factor is Asia, long seen as a main growth market—particularly for wealth management services to the ultrarich.
Baca lebih lajut »
UBS and Credit Suisse's wealth business merger will be awkwardUBS will become a Swiss wealth behemoth after buying Credit Suisse, but blending the two rivals could get awkward and messy
Baca lebih lajut »
UBS likely to shrink Credit Suisse's $10 bln shipping portfolio -WSJUBS Group AG will likely shrink Credit Suisse Group's $10 billion shipping portfolio that it inherited as part of its emergency takeover on Sunday, the Wall Street Journal reported on Wednesday.
Baca lebih lajut »
UBS races to seal Credit Suisse deal as soon as late April, sources sayThe Swiss authorities and UBS Group AG are racing to close the takeover of Credit Suisse Group AG within as little as a month, according to two sources with knowledge of the plans, to try to retain the lender's clients and employees.
Baca lebih lajut »
Credit Suisse hires Southeast Asia wealth vice chairmanCredit Suisse said on Thursday it has hired private banker Kwong Kin Mun as its new vice chairman for Southeast Asia wealth management.
Baca lebih lajut »
EUR/USD: Break above 1.0806 should see the rally gain more momentum – Credit SuisseEUR/USD extends the advance for the fifth consecutive session on Wednesday. A break above 1.0802/06 would clear the way toward the year-to-date high o
Baca lebih lajut »