Tag: Suisse

UBS chairman brings in external consultants for potential merger with Credit Suisse

Logo of Swiss bank UBS is seen in Zurich

  • External consultants are helping UBS create a potential merger deal between the two largest Swiss banks, Credit Suisse and UBS.
  • It would be the biggest deal since UBS merged with Basler Bankverein in 1997.
  • UBS and Credit Suisse told Business Insider that they don’t comment on “market rumors and speculations.”
  • Visit Business Insider’s homepage for more stories.

UBS chairman Axel Weber has brought in external consultants to explore a potential merger with rival investment bank Credit Suisse, according to a Financial Times report.

A Swiss finance blog reported the potential merger – which would create Europe’s largest bank – on Monday. On Tuesday, the FT reported a deal was on the cards, but that no formal discussions have taken place between the two banks. 

It would be the biggest deal for UBS since 1997 when

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Investors don’t need to rotate out of tech yet, but ‘high flying’ stocks aren’t the best to buy, Credit Suisse strategy chief says

  • Jonathan Golub told Bloomberg on Friday that investors should stick with the “winning theme of growth” and don’t need to rotate out of all technology stocks yet. 
  • The Credit Suisse chief equity strategist said he’s not rotating out of technology because he believes there won’t be a coronavirus vaccine soon.
  • Golub said investors don’t necessarily need to buy “high-flying tech stocks” for growth. Instead they should look for companies with great sales growth, great earnings per share, low debt, high margins, and a focus on reinvesting in business.

It may be too early for a rotation out of technology stocks, but investors don’t have to necessarily buy soaring names like Tesla and Peloton for a winning strategy, according to Credit Suisse’s chief equity strategist.

Jonathan Golub told Bloomberg on Friday he is not rotating out of technology stocks yet because he believes it’s going to take longer

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