Activist Investor Cevian Makes €1.2 Billion Investment in Swiss Bank UBS
Cevian's 1.3% stake in UBS positions them as a top investor, expressing optimism for value appreciation after the takeover of Credit Suisse.
Activist investor Cevian has made a significant move by acquiring a 1.3% stake, valued at €1.2 billion (CHF1.14 billion), in the Swiss bank UBS. This move has positioned the Swedish investment firm as one of the bank’s top ten largest investors. In a press release issued on Tuesday, Cevian expressed optimism about the potential for value appreciation at UBS following the takeover of Credit Suisse. Lars Förberg, co-founder of Cevian, commended the Board of Directors and the management team for their excellent job in integrating Credit Suisse. Since the takeover, UBS has emerged as the largest global asset manager with a unique market position and financial strength.
Förberg further highlighted the potential for UBS shares to increase in value, stating that if the valuation gap to the US bank Morgan Stanley is closed, UBS shares could be worth CHF50 ($57). This is a significant increase from the current share price, which closed at CHF25.35 on the stock exchange the previous evening. Notably, UBS shares have seen a remarkable 47% increase over the past year, reaching a multi-year high of CHF26.28 last Friday, a price point that has not been seen in over 15 years.
Cevian's acquisition of a stake in UBS and their positive outlook on the bank's potential for value appreciation following the Credit Suisse takeover reflect a strong show of confidence in UBS's future prospects.
Activist Investor Cevian Makes €1.2 Billion Investment in Swiss Bank UBS
ASR Divests Knab to Bawag Group for €590 Million
ASR's strategic sale of Knab to Bawag Group marks a €590 million deal, with €100 million allocated for share repurchase to boost shareholder value.
ASR\'s strategic sale of Knab to Bawag Group marks a €590 million deal, with €100 million allocated for share repurchase to boost shareholder value.
Read more
UBS’s Asset Management Launches First Tokenized Investment Fund
UBS Asset Management has launched its inaugural tokenized investment fund, highlighting a significant trend in the evolving financial landscape.
UBS Asset Management has launched its inaugural tokenized investment fund, highlighting a significant trend in the evolving financial landscape.
Read more
Swiss National Bank Reports CHF62.5 Billion Profit
The Swiss National Bank (SNB) has generated a remarkable CHF62.5 billion profit in the first nine months of this year, reflecting robust financial performance.
The Swiss National Bank (SNB) has generated a remarkable CHF62.5 billion profit in the first nine months of this year, reflecting robust financial performance.
Read more
Profits Rise at Standard Chartered’s Wealth Arm
Standard Chartered's wealth division reports an 11% profit increase in Q3, fueled by a $1.5 billion investment to enhance services and capabilities.
Standard Chartered\'s wealth division reports an 11% profit increase in Q3, fueled by a $1.5 billion investment to enhance services and capabilities.
Read more
NatWest’s Coutts Sees Profit Surge to £90 Million
NatWest Group's Coutts reports a significant profit increase to £90M in Q3 2024, highlighting strong income growth and strategic financial management.
NatWest Group\'s Coutts reports a significant profit increase to £90M in Q3 2024, highlighting strong income growth and strategic financial management.
Read more
UBS Achieves Billion-Franc Profit, Exceeds Expectations
Swiss bank UBS reports a billion-franc profit in Q3 2024, surpassing market expectations while advancing the Credit Suisse integration efforts.
Swiss bank UBS reports a billion-franc profit in Q3 2024, surpassing market expectations while advancing the Credit Suisse integration efforts.
Read more
Online Lending Market Declines in Switzerland
Explore the reasons behind the shrinking online lending market in Switzerland and its impact on borrowers and financial institutions.
Explore the reasons behind the shrinking online lending market in Switzerland and its impact on borrowers and financial institutions.
Read more
Santander Launches Digital Bank in the U.S.
Santander launches Openbank in the U.S. to enhance growth, focusing on deposit generation to support its auto lending strategy. Explore the details.
Santander launches Openbank in the U.S. to enhance growth, focusing on deposit generation to support its auto lending strategy. Explore the details.
Read more
Atlantic Union Bank Acquires Sandy Spring for $1.6B
Atlantic Union Bank's $1.6B deal expands its presence in the D.C. area, adding 53 branches and doubling its wealth management services.
Atlantic Union Bank\'s $1.6B deal expands its presence in the D.C. area, adding 53 branches and doubling its wealth management services.
Read more