Sergio Ermotti faces the daunting task of integrating two globally systemic banks. The returning UBS boss’s first big decision, though, has a more domestic focus. The Swiss bank is under pressure to offload Credit Suisse’s local business to ease a political backlash in its home market. By avoiding immediate layoffs, and arguing that the division might not be viable on its own, he might be able to get away with keeping it.
Lebanon's deputy central bank governors could all resign if no successor is appointed when current chief Riad Salameh's term ends this month, one of the deputies said Thursday, raising the prospect of a leaderless central bank amid a financial crisis.
Details of how billionaire Italian tycoon Silvio Berlusconi divided up his assets have been made public on Thursday after the will of the former prime minister, who died on June 12, was unsealed.
Australia's corporate regulator on Wednesday asked the country's banks to disclose data on fees charged to Indigenous consumers after a review found they were not meeting targets for moving First Nations people into low-fee accounts.