The Business Times

Credit Suisse Group

Banking & Finance

UBS reshuffles leadership as Credit Suisse integration nears end

Withers is acting for investors across Asia, including in Hong Kong and Singapore, to recover losses from the write-down of Credit Suisse's Additional Tier 1 bonds.
Companies & Markets

Withers to take action against Switzerland on Credit Suisse AT1 losses in Asia

The complete writedown of AT1 bonds in March 2023 decree – under a government-brokered rescue of Credit Suisse by UBS Group – had caused a furor, given that typically shareholders absorb losses before bondholders.
Singapore

Drew & Napier to sue Switzerland over Asia losses on AT1s

UBS is taking a more disciplined approach amid tougher rules in some jurisdictions.
Banking & Finance

UBS tightens scrutiny of client funds mainly in Singapore and Hong Kong amid regulatory pressure: sources

The decision made by regulator Finma to wipe out Credit Suisse’s Additional Tier one (AT1) bonds during the bank’s emergency takeover by its old rival UBS in March 2023 triggered an investor backlash and legal challenges.
Banking & Finance

Swiss court says 16.5 billion Swiss francs bond write-off in Credit Suisse rescue was unlawful

UBS is working through a list of legacy legal issues inherited from Credit Suisse, which it bought in an emergency rescue in 2023.
Banking & Finance

UBS pays US$300 million to settle Credit Suisse mortgage case

The EU General Court threw out UBS’s appeal against the February 2021 penalty, and backed the European Commission’s findings that Credit Suisse.
Banking & Finance

UBS loses EU fight over Credit Suisse’s role in ‘Sterling Lads’, but fine cut sharply

MAS has penalised nine financial institutions in relation to the S$3 billion money laundering case from August 2023. This marks the conclusion of its enforcement against FIs with material nexus to the case.
Companies & Markets

Credit Suisse, UOB, UBS, Citi among 9 financial institutions penalised S$27.5 million for roles in S$3b money laundering case

The contentious and costly part for UBS is the demand that it should fully capitalise its foreign subsidiaries.
Banking & Finance

UBS’s US$26 billion capital hit isn’t quite as bad as it seems

The investors, around 300 of whom are Singaporeans, are claiming losses amounting to around US$250 million against Switzerland.
Companies & Markets

Over 500 investors, including 300 Singaporeans, kick off claim against Switzerland over Credit Suisse bond losses of over US$250 million

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