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Old 14.09.2020, 20:24
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UBS - Credit Suisse Merger

Apparently UBS and Credit Suisse are in talks to merge.

Here is The Telegraphs take on matters

https://www.telegraph.co.uk/business...credit-suisse/

Surely this would be a matter for the competition commission?
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Old 14.09.2020, 20:45
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Re: UBS - Credit Suisse Merger

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Apparently UBS and Credit Suisse are in talks to merge.

Here is The Telegraphs take on matters

https://www.telegraph.co.uk/business...credit-suisse/

Surely this would be a matter for the competition commission?
Shareholders have lost 2/3 of their capital since SBC merged with UBS in 1997. I doubt the next 20 years will be much better.
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Old 14.09.2020, 20:49
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Re: UBS - Credit Suisse Merger

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Shareholders have lost 2/3 of their capital since SBC merged with UBS in 1997. I doubt the next 20 years will be much better.
Banks make money for the bankers
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Old 14.09.2020, 21:36
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Re: UBS - Credit Suisse Merger

Consolidation is the name of the game with the sole aim of “improving efficiency” (i.e. cutting costs)

Sounds like a good idea in theory, in practice it will face a huge regulatory barrier to get approved by Finma and even if it does get the go ahead it’s no walk in the park.

Unlikely to go through in my opinion but crazier things have happened!
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Old 15.09.2020, 01:34
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Re: UBS - Credit Suisse Merger

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Banks make money for the bankers
Bankers are people who actually own a bank, in other words the shareholders, everyone on else is just an employee.

And if you have be around as long as I have (30 years) you’d have to conclude that the banks have not made us decent money in years.
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Old 15.09.2020, 11:51
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Re: UBS - Credit Suisse Merger

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Apparently UBS and Credit Suisse are in talks to merge.

Here is The Telegraphs take on matters

https://www.telegraph.co.uk/business...credit-suisse/

Surely this would be a matter for the competition commission?
How much market share will they get?

Anyhow the Swiss Government always feared a 2008 crisis or a Societè Generale scandal that could destroy one of the big banks. Merging CS and UBS in their minds I think would make the system more stable so maybe antitrust will close an eye.
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Old 15.09.2020, 13:00
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Re: UBS - Credit Suisse Merger

In reality, there's no such thing as a merger, one bank will take over the other one. I expect this not to be a pleasant time for the employees if it goes ahead.
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Old 15.09.2020, 13:08
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Re: UBS - Credit Suisse Merger

A merger would also move the combined bank up the food chain.

UBS (33rd position) and CS (41st position) would move up to 16th position to be close to Banco Santander.

Link: https://en.wikipedia.org/wiki/List_of_largest_banks

The house cleaning of employees at all levels will be massive.

The competition commission may consider that the cantonal banks offer enough of a counter-weight to the possible new entity.
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Old 15.09.2020, 13:37
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Re: UBS - Credit Suisse Merger

Considering the job losses and the fact that CS specializes in outsourcing to India/Poland I hope it doesn't happen as many well off employees will be thrown out the door and lots of jobs will disappear.

It's also horrible for the customers. Who stops the new bank from doubling their charges? Where will you go, to the post office? Lol.

Such a monopoly is usually very bad news for such a small country.
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Old 15.09.2020, 13:41
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Re: UBS - Credit Suisse Merger

Wouldn´t a merger be a huge "too big to fail" risk?
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Old 15.09.2020, 13:43
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Re: UBS - Credit Suisse Merger

I think both have near/offshoring agreements.

I also think that FINMA, the SBA, SNB and government would perhaps want to avoid a mega-Swiss-bank. Both banks are streamlining operational efficiencies anyway, share prices are stable/stagnant but they pass the stress testing.

I think it's click bait based on idle gossip and supposition with maybe an indirect aim to test reaction and pump some positive share pricing.
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Old 15.09.2020, 14:03
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Re: UBS - Credit Suisse Merger

Inside Paradeplatz also has a big story on this - Headquarters of the new bank could be moved to Frankfurt

Last edited by Dack Rambo; 15.09.2020 at 14:19.
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Old 15.09.2020, 14:15
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Re: UBS - Credit Suisse Merger

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Wouldn´t a merger be a huge "too big to fail" risk?
Both are already too big to fail, well at least they were in 2008!
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Old 15.09.2020, 14:30
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Re: UBS - Credit Suisse Merger

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Considering the job losses and the fact that CS specializes in outsourcing to India/Poland I hope it doesn't happen as many well off employees will be thrown out the door and lots of jobs will disappear.

It's also horrible for the customers. Who stops the new bank from doubling their charges? Where will you go, to the post office? Lol.

Such a monopoly is usually very bad news for such a small country.
I already have no idea why you'd use a personal finance product from either already (possible exception being a mortgage) They are incredibly poor value.
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Old 15.09.2020, 18:04
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Re: UBS - Credit Suisse Merger

Looks like this is serious indeed so I take back my statement about it not happening...

FINMA and Competition Commission can only slow this down... so if the board of directors of both are behind it (which seems to be the rumor at the moment), there is no stopping this from happening.
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Old 15.09.2020, 18:10
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Re: UBS - Credit Suisse Merger

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Banks make money for the bankers
Really! I thought it was to support their drug habits.
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Old 15.09.2020, 19:43
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Re: UBS - Credit Suisse Merger

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In reality, there's no such thing as a merger, one bank will take over the other one. I expect this not to be a pleasant time for the employees if it goes ahead.
I've heard UBS are not keen to let staff go who are over the age of 56 unless they have accrued time that lets them retire early, i.e. on gardening leave. I've also read most people think this merger won't go ahead as it'll make the company too big.

In the 80s I worked for the biggest Japanese Bank in the world, which was also known as the biggest bank in the world then. The Japanese Treasury were forever threatening to break it up. Don't know what happened, but I do know 6 months after I was made redundant in 1991 they had a massive scandal involving the Yakuza and insider dealing.
I joined another Japanese Bank, by which point someone who had been in the office of my former employers in London had written a bit of a damning book about his experience. I kept getting asked if any of what the book said was true about the treatment of some professional staff and unfortunately the answer was yes, but I think it was stuff that was also going on in most of the American banks (who were actually often worse to work for tbh).

I went for a job in one of the American banks after being made redundant and just knowing I couldn't work there. Something about sitting in the reception of the department where I was going for an interview and a guy coming out of an office shouting at me "get me 4 coffees NOW!" I just laughed and said I'm only here about a job, perhaps you should ask your secretary.

I also fell over at an interview with the European Bank for Reconstruction and Development but that's another story. Just as well I didn't get it because the IRA blew up the building they were in.
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Old 15.09.2020, 21:14
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Re: UBS - Credit Suisse Merger

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I've heard UBS are not keen to let staff go who are over the age of 56 unless they have accrued time that lets them retire early, i.e. on gardening leave. I've also read most people think this merger won't go ahead as it'll make the company too big.

In the 80s I worked for the biggest Japanese Bank in the world, which was also known as the biggest bank in the world then. The Japanese Treasury were forever threatening to break it up. Don't know what happened, but I do know 6 months after I was made redundant in 1991 they had a massive scandal involving the Yakuza and insider dealing.
I joined another Japanese Bank, by which point someone who had been in the office of my former employers in London had written a bit of a damning book about his experience. I kept getting asked if any of what the book said was true about the treatment of some professional staff and unfortunately the answer was yes, but I think it was stuff that was also going on in most of the American banks (who were actually often worse to work for tbh).

I went for a job in one of the American banks after being made redundant and just knowing I couldn't work there. Something about sitting in the reception of the department where I was going for an interview and a guy coming out of an office shouting at me "get me 4 coffees NOW!" I just laughed and said I'm only here about a job, perhaps you should ask your secretary.

I also fell over at an interview with the European Bank for Reconstruction and Development but that's another story. Just as well I didn't get it because the IRA blew up the building they were in.
I don’t know what you’re on pal but I sure as hell want some!
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Old 15.09.2020, 21:18
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Re: UBS - Credit Suisse Merger

Just, if you assets in these 2 banks combined is over 100k chf its best to shift some to a new bank... over 100k in a single bank is not insured if the bank goes under. I was once called by UBS why I moved out money... told them about the 100k limit, then they asked me do I really think a big Swiss bank can fail.. then I told them about 2008... after some uncomfortable uh ah eh they agreed with me and hung up.
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Old 15.09.2020, 22:00
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Re: UBS - Credit Suisse Merger

Expect the Competition Commission would require divestments in the Swiss market to maintain competitiveness.
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