{"id":1908406,"date":"2023-04-01T11:27:07","date_gmt":"2023-04-01T15:27:07","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-ubs-ceo-plays-down-concerns-over-size-of-swiss-bank-combination\/"},"modified":"2023-04-01T11:27:57","modified_gmt":"2023-04-01T15:27:57","slug":"new-ubs-ceo-plays-down-concerns-over-size-of-swiss-bank-combination","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/new-ubs-ceo-plays-down-concerns-over-size-of-swiss-bank-combination\/","title":{"rendered":"New UBS CEO plays down concerns over size of Swiss bank combination"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">24<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnew-ubs-ceo-plays-down-concerns-over-size-of-swiss-bank-combination%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1908406&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"entry-content\">\n<p>The incoming CEO of UBS, Sergio Ermotti, has attempted to alleviate concerns about the bank&#8217;s merger with Credit Suisse. The merger, which was orchestrated to promote global financial stability amidst instability, would create a new Swiss bank boasting over 120,000 employees and $1.6 trillion in assets. Critics have expressed doubts about the deal due to its scale.<\/p>\n<p>Ermotti, however, insists that the new bank&#8217;s size will not be excessive; it will not even be the largest international bank. Instead, he argues that the bank&#8217;s global reach will provide additional advantages. Ermotti also indicated that the bank will maintain its focus on wealth management and minimize the risks associated with investment banking. He will assume the position of CEO on April 5.<\/p>\n<p>Meanwhile, Switzerland&#8217;s government and public have expressed concerns about the level of state support provided to the banks, amounting to nearly 260 billion Swiss francs ($284 billion) in liquidity and guarantees from the government and Swiss National Bank. Ermotti, however, believes these guarantees are reasonable under the current framework for the merger.<\/p>\n<p>($1 = 0.9148 Swiss francs) <\/p>\n<p>(Writing by Keith Weir; Editing by Emelia Sithole-Matarise)<\/p>\n<\/div>\n<p><!-- The following content is unrelated to the article --><\/p>\n<div class=\"entry-content\">\n<p>The headlines this week have been significant in the U.S. and around the globe.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Although the 2022 midterm elections have recently ended, everyone is already thinking about the 2024 election cycle.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Representative Ralph Norman from South Carolina has stated that congressional investigative committees are likely to scrutinize Manhattan District Attorney Alvin Bragg and his indictment of the 45th President soon. <\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>OAN Newsroom UPDATED 4:20 PM &#8211; Friday, March 31, 2023. Is the America we once knew changing?<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>Apple Inc successfully challenged and had a $502 million verdict for them thrown out by a U.S. appeals court.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>OpenAI has taken ChatGPT offline in Italy after the government\u2019s Data Protection Authority demanded it.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>A bipartisan group of U.S. lawmakers reintroduced a bill that would allow news organizations to join together to negotiate ad prices.<\/p>\n<\/div>\n<div class=\"entry-content\">\n<p>China\u2019s cyberspace regulator is set to conduct a cybersecurity review of Micron Technology&#8217;s products sold in the country.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Incoming UBS Chief Executive Sergio Ermotti has sought to ease worries about the size of the new bank being created by its takeover of Credit Suisse. Critics have voiced concern about the forced deal, designed to help secure financial stability globally during a period of turmoil, which will create a new Swiss bank<\/p>\n","protected":false},"author":66,"featured_media":1908407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[5373,3850,7384,5241,5584,9589,14166,22089],"class_list":["post-1908406","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-bank","tag-ceo","tag-combination","tag-concerns","tag-plays","tag-size","tag-swiss","tag-ubs"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1908406"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1908406\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1908407"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1908406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1908406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1908406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}