Myriam Balezou

London

Finance Reporter at Bloomberg News

Journalist, EMEA Deals at Bloomberg News. Retweets are not endorsements/ opinions are my own

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Articles

UBS behielt kaum jeden zweiten deutschen Credit-Suisse-Banker

Sep 30, 2024 | bloomberg.com | Arno Schuetze |Myriam Balezou

Die UBS hat in Deutschland dem Vernehmen nach weniger als die Hälfte der Banker der Credit Suisse übernommen. Bei der Notübernahme des kleineren Wettbewerbers habe die UBS auf einen Mix aus Entlassungen, Vorruhestand und Abfindungen zurückgegriffen, berichten darüber informierte Personen.
UBS Kept Less Than Half of Credit Suisse’s Bankers in Germany

Sep 30, 2024 | bloomberg.com | Arno Schuetze |Myriam Balezou

UBS Group AG has retained less than half of Credit Suisse’s bankers in Germany, giving a glimpse of the scale of job losses following last year’s merger of the two Swiss lenders. The redundancies in Germany are a mix of cuts, early retirement and voluntary departures, people familiar with the matter said, asking not to be identified because the matter is confidential.
UBS Kept Less Than Half of Credit Suisse’s Bankers in Germany

Sep 30, 2024 | bnnbloomberg.ca | Myriam Balezou

(Bloomberg) -- UBS Group AG has retained less than half of Credit Suisse’s bankers in Germany, giving a glimpse of the scale of job losses following last year’s merger of the two Swiss lenders. The redundancies in Germany are a mix of cuts, early retirement and voluntary departures, people familiar with the matter said, asking not to be identified because the matter is confidential. A representative for UBS declined to comment. The Zurich-based bank doesn’t disclose headcount by country.
Commerzbank Board Hires UBS for Potential UniCredit Deal Advice

Sep 25, 2024 | bloomberg.com | Nicholas Comfort |Myriam Balezou

Commerzbank AG’s supervisory board has mandated UBS Group AG to help it navigate a potential takeover bid from UniCredit SpA, according to a person familiar with the matter, who asked not to be named discussing private information. UniCredit earlier this month disclosed a 21% stake in Commerzbank. The Italian lender’s chief executive officer, Andrea Orcel, has said he’s considering a takeover.
SocGen (GLE FP) Would Proactively Manage Excess Capital, CEO Krupa Says

Sep 23, 2024 | bloomberg.com | Myriam Balezou

Societe Generale SA will seek ways to put excess cash to use or return it to shareholders, once the French lender reaches its target for capital strength, Chief Executive Officer Slawomir Krupa said. Capital remains the cornerstone of his strategy, with no room for compromise, Krupa said at a conference hosted by Bank of America Corp.
UBS CEO Says Asia Business Still Key Amid ‘Less Linear’ Growth

Sep 23, 2024 | bnnbloomberg.ca | Myriam Balezou

(Bloomberg) -- UBS Group AG is reiterating its commitment to the Asia-Pacific region and particularly to China, as the bank still sees it as a key driver for growth, according to Chief Executive Officer Sergio Ermotti. “The two engines of growth for us which are going to deliver superior prospects are still the US and Asia,” Ermotti said at the Bank of America CEO Conference in London on Tuesday.
UBS CEO Says Asia Business Still Key Amid ‘Less Linear’ Growth

Sep 23, 2024 | bloomberg.com | Myriam Balezou

UBS Group AG is reiterating its commitment to the Asia-Pacific region and particularly to China, as the bank still sees it as a key driver for growth, according to Chief Executive Officer Sergio Ermotti. “The two engines of growth for us which are going to deliver superior prospects are still the US and Asia,” Ermotti said at the Bank of America CEO Conference in London on Tuesday.
Pictet Assets Under Management Rise, Profit Falls in First Half

Aug 29, 2024 | bloomberg.com | Myriam Balezou

Banque Pictet & Cie SA grew assets under management during the first half of the year even though higher costs hit profitability. The Geneva-based private bank saw assets under management or custody rise 10% to 694 billion Swiss francs ($819 billion) in the six months through June, according to a statement Friday. Operating income dropped 3% year-on-year to 1.57 billion francs as operating expenses rose 3% during the period.
Genfs älteste Privatbank kritisiert Erbschaftssteuer-Vorschlag

Aug 29, 2024 | bloomberg.com | Myriam Balezou |Jan-Henrik Foerster

Einer der Top-Banker der Banque Lombard Odier & Cie hat sich gegen einen Vorschlag ausgesprochen, in der Schweiz künftig eine Erbschaftssteuer für Superreiche zu erheben. Bereits vor der Volksabstimmung über den Vorschlag könnte laut Frédéric Rochat wegen des Vorhabens ein Exodus vermögender Familien einsetzen. Die Initiative der Schweizer Jungsozialisten fordert eine 50%-ige Steuer auf Erbschaften in Höhe von mehr als 50 Millionen Franken (53,4 Millionen Euro).
Geneva’s Lombard Odier Criticizes Inheritance Tax Proposal on the Super-Rich

Aug 28, 2024 | bloomberg.com | Myriam Balezou |Jan-Henrik Foerster

One of Banque Lombard Odier & Cie SA’s top bankers criticized a controversial proposal for an inheritance tax on the super-rich, saying it could trigger an exodus of wealthy families even before it’s put to a vote. The initiative by the youth wing of the country’s Social Democratic Party calls for a 50% tax on inheritances worth more than 50 million francs ($59 million). Under Switzerland’s system of direct democracy, the proposal is expected go to a national vote in about two years.