Investors will hear more on Silicon Valley Bank’s collapse in the second day of hearings, this as UBS hires a new CEO to help stabilize the bank with Credit Swisse under fire. Macy’s also names new CEO and former Starbucks CEO Howard Schultz will testify on labor issues at the coffee giant. Lululemon shares jump after results. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Swiss bank UBS has decided to bring back former CEO Sergio Ermotti to guide the takeover of Credit Suisse. He will take over for current chief executive Ralph Hamers.
Hamers took up the job in November 2020 and will remain at UBS during a transition period “to ensure a successful closure of the transaction and a smooth handover,” the bank said in a statement. “Whilst Ralph was capable of doing the job, we felt that Sergio was better suited to navigating these things,” Chairman Colm Kelleher said on a conference call, alluding to the UBS board decision. “I cannot reemphasizePosted by Associated PressThe overdose-reversal drug Narcan is displayed during training for employees of the Public Health Management Corporation , Dec. 4, 2018, in Philadelphia, Pa.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UBS names Sergio Ermotti as its new Group CEO, following acquisition deal of Credit Suisse
Read more »
'We did not buy Credit Suisse only to close it' - UBS CEOUBS's CEO Ralph Hamers on Monday said the Swiss bank sees its government-orchestrated takeover of Credit Suisse as a growth opportunity, in an internal memo seen by Reuters.
Read more »
UBS turns to ex-CEO Ermotti to steer Credit Suisse takeoverUBS Group AG named former boss Sergio Ermotti as its next chief executive officer on Wednesday, in a surprise move designed to help steer its massive takeover of neighbour Credit Suisse .
Read more »
UBS Brings Back Sergio Ermotti as CEOUBS said its former leader Sergio Ermotti will return as chief executive, as the Swiss banking giant moves into a new era with its takeover of Credit Suisse.
Read more »
UBS rehires Ermotti as CEO to steer Credit Suisse takeover By Reuters*UBS NAMES FORMER LONGTIME CEO SERGIO ERMOTTI AS NEW CEO FOLLOWING CREDIT SUISSE TAKEOVER, REPLACING RALPH HAMERS AFTER 2 YEARS IN THE ROLE $UBS $CS 🇨🇭🇨🇭
Read more »
Sergio Ermotti returns as UBS CEO after Credit Suisse dealUBS said its board made the decision as a result of the new challenges it confronts following its agreement to take over Credit Suisse reached earlier this...
Read more »