In Kilchberg, near Zurich, the CS Investment Foundation initially planned a rental apartment project but sold the site to developer Aestate, shifting focus to luxury owner-occupied flats. Aestate is set to develop 30 units at Seestrasse, with sales prices aligned to market rates, though details remain undisclosed.
about UBS Sells Kilchberg Site Shifting Focus from Rental to Owner-Occupied FlatsCredit Suisse Group AG
0 in Finance and 0 in Crypto last weekUBS Faces Challenges After White Turf Incident in St Moritz
A recent incident at the prestigious White Turf event in St. Moritz saw a horse crash into a barrier, narrowly avoiding injury to spectators. This raises questions about the safety of the event, especially as UBS, which inherited the sponsorship from CS, navigates its involvement. Sabine Keller-Busse, head of UBS Switzerland and a horse enthusiast, faces scrutiny over the sponsorship’s future.
about UBS Faces Challenges After White Turf Incident in St MoritzLeadership Shakeup at ZKB: Women Rise as Daniel Previdoli Faces Downgrade
ZKB is transforming under the leadership of Susanne Thellung and Florence Schnydrig Moser, with a focus on promoting women in key roles. This shift has left Daniel Previdoli, once seen as a powerful figure, sidelined and overseeing a diminished department. The changes signal a new era for the bank, as traditional leadership gives way to a younger, more dynamic team.
about Leadership Shakeup at ZKB: Women Rise as Daniel Previdoli Faces DowngradeLombard Odier’s Zurich Expansion Faces Earnings Decline Amid Staff Changes
Lombard Odier’s ambitious expansion in Zurich is facing significant challenges, with a major attack on its operations leading to a potential crash. The private bank, which aimed to attract numerous high-paid employees from CS and UBS, is now grappling with declining earnings.
about Lombard Odier's Zurich Expansion Faces Earnings Decline Amid Staff ChangesCS Employees Granted Unique Sabbatical Benefits Amid UBS Merger Tensions
Bankers at Credit Suisse (CS) will enjoy a unique paid sabbatical of three months every five years, with full pay for the first month, 80% for the second, and 60% for the third. This arrangement has sparked discontent among former UBS employees, who lack similar benefits. Tensions are also rising over the potential dilution of UBS’s more robust pension fund in the merger, with management delaying any pension fund discussions until after the CS integration is completed in 2027.
about CS Employees Granted Unique Sabbatical Benefits Amid UBS Merger TensionsKunsthaus Zurich Faces Funding Challenges Despite High Visitor Numbers
The Zurich Kunsthaus reported 513,162 visitors in 2023, one of its highest figures in over a century, amid financial struggles and a pending subsidy increase request from the city. However, visitor growth of just 1.7% and a significant portion of free admissions raise concerns about sustainability. Despite a booming tourism sector in Zurich, the Kunsthaus faces challenges in attracting paying visitors and securing sponsorships.
about Kunsthaus Zurich Faces Funding Challenges Despite High Visitor NumbersConcerns Over Foreign Influence on Swiss Banking and Political Leadership
Switzerland’s political leadership is under threat as foreign influences, notably from Finma Director Stefan Walter and Swiss-American Chamber of Commerce CEO Rahul Sahgal, seek to reshape the country’s financial and trade policies. Walter’s stringent regulations on UBS risk undermining its global competitiveness, while Sahgal’s push for alignment with U.S. interests could jeopardize Switzerland’s autonomy and relations with the EU. The situation calls for decisive leadership to protect national interests amidst external pressures.
about Concerns Over Foreign Influence on Swiss Banking and Political LeadershipSwiss Asset Management Industry Confident in Growth and Private Markets Potential
The asset management industry in Switzerland is optimistic about its future, with assets under management reaching €3.4 trillion by the end of 2023, outpacing Germany. The Association of Asset Managers anticipates significant growth in private markets and sustainable finance, despite challenges from passive investments and shrinking fees. AMAS aims to catch up with France’s €4.8 trillion in assets, leveraging opportunities in private equity and infrastructure as traditional banking channels become insufficient.
about Swiss Asset Management Industry Confident in Growth and Private Markets PotentialTop Canteens for Zurich Bankers Featuring Bärengasse Restaurant Experience
Bärengasse, located in the heart of Zurich’s financial district, is a renowned Argentinian restaurant known for its exceptional steakhouse cuisine and attentive service. With a diverse menu catering to meat lovers, vegetarians, and fish enthusiasts alike, it offers a cozy atmosphere complemented by outdoor seating, even in winter. Reservations can be challenging, making spontaneous visits a common practice for patrons.
about Top Canteens for Zurich Bankers Featuring Bärengasse Restaurant ExperienceHousing Disparities in Zurich’s Altstetten Amidst Rising Costs
In Altstetten, a stark contrast in housing prices is evident, with a 2.5-room apartment at 41m² costing 3,895 francs, while a 4.5-room apartment at 95m² is available for just 1,920 francs. This disparity highlights the ongoing housing crisis under Zurich’s finance chief, Daniel Leupi, who has been criticized for catering to a privileged few while the city’s housing shortage worsens. Meanwhile, private developers are converting office spaces into apartments, indicating a shift in the market dynamics.
about Housing Disparities in Zurich's Altstetten Amidst Rising CostsSwiss Finance Minister Warns of Structural Deficit Despite Tax Revenue Surge
Switzerland’s finance minister, Karin Keller-Sutter, highlights a significant influx of tax revenue from Geneva’s commodities sector but warns of a looming structural deficit despite potential short-term gains. She emphasizes the need for fiscal prudence, advocating for increased taxes on the wealthy while maintaining a cautious stance on tax cuts, as Zurich’s finance minister, Ernst Stocker, remains unyielding in his approach.
about Swiss Finance Minister Warns of Structural Deficit Despite Tax Revenue SurgeChallenges Ahead for UBS in Integrating Swiss CS Customers
Hans Geiger highlights that while data processing errors have always plagued banks, the real challenge lies ahead for UBS as it prepares to integrate Swiss CS customers. This upcoming transition will serve as a significant test for the bank’s operational capabilities.
about Challenges Ahead for UBS in Integrating Swiss CS Customers