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UBS Group AG agreed to buy Credit Suisse for CHF 3 billion in an all-stock deal brokered by the Swiss government and the Swiss Financial Market Supervisory Authority. The deal was initiated on 19 March 2023 and completed on 12 June 2023, amid a global financial turmoil triggered by the collapse of several U.S. banks.
Zoltan Pozsar is a Hungarian-American economist and shadow banking expert. He worked at Moody's, the Federal Reserve, the U.S. Treasury, and Credit Suisse, and launched his own advisory firm in 2023.
Credit Suisse is a global investment bank and financial services firm founded in 1856 and based in Switzerland. It was acquired by UBS in 2023 to avoid bankruptcy and faced multiple scandals and investigations for tax avoidance.
Credit Suisse stock dropped about 30%, to about 1.6 Swiss francs ($1.73), before clawing back to a 24% loss at 1.70 francs ($1.83) at the close of trading on the SIX stock exchange. At its lowest ...
"Since 2006, value stocks (IVE vs IVW) have underperformed 11 of the 13 calendar years and when they beat growth, it wasn't by much. Cumulatively, through this week, it has been a 122% ...
Five months later, the stock of UBS is at a 15-year high. The latest catalyst came Thursday as UBS reported a record $29 billion quarterly profit due to an accounting gain from the Credit Suisse ...
Worries over contagion across the sector ramped up, with stock markets tumbling in the UK, Europe and in the US as Credit Suisse's woes came shortly after the Silicon Valley Bank collapse in America.
Credit Suisse First Boston (CSFB) is the investment banking affiliate of Credit Suisse, created by the merger of First Boston Corporation and Credit Suisse Group in 1988. The brand was retired in 2006 and revived in 2022 as part of a major restructuring of Credit Suisse.