Final Days at Credit Suisse Were Marked by a $69 Billion Race for the Exits Clients hurried to withdraw money as the Swiss bank faced collapse last month. It was eventually forced to sell itself to a rival, UBS.
Credit Suisse Shareholders Feel Betrayed by UBS Deal Top executives at the bank’s final shareholder meeting apologized for the lender’s collapse and forced sale to UBS, while investors spoke of betrayal.
UBS Brings Back C.E.O. to Manage ‘New Challenges’ of Credit Suisse Takeover Sergio Ermotti, who stepped down from UBS in 2020, will rejoin the Swiss banking giant as it prepares to absorb its troubled rival, Credit Suisse.
As Banking Worries Swirl, Europe’s Policymakers Express Confidence, With Caution Officials say eurozone lenders are strictly supervised and continue to be strong. But at a recent conference, wariness about the future remained.
Will the Fed Raise Interest Rates During a Banking Crisis? The central bank’s decision on interest rates on Wednesday is shaping up to be the most consequential of the Jerome Powell era.