By Silas Brown and Nicolas Parasie (Bloomberg) — Pension manager Caisse de Dépôt et Placement du Québec financed its stake in a Dubai port with $900 million in private debt, tapping.
(Bloomberg) UBS Group AG wealth boss Iqbal Khan told Credit Suisse Group AG staff in Asia that he’s working on retention measures including compensation, according to people familiar with the matter, as the bank seeks to prevent an exodus of top talent. Khan, alongside Francesco De Ferrari, Credit Suisse’s wealth management chief, made the comments at a town-hall in Hong Kong to Asia Pacific staff on Friday, said the people, asking not be identified as the event is private. They were joined by UBS senior Asia executives including Amy Lo, co-head of Asia-Pacific wealth, and Asia-Pacific President Edmund Koh, said the people. Retention plans are likely to be aimed at top performers, one of the people said. When asked about compensation, Khan indicated it’s being worked on and more details could come as soon as next week, without being more specific, one of the people said. Khan’s comments are the latest sign that UBS is concerned rivals will take advantage of the turmoil surrou
(Bloomberg) UBS Group AG wants to cherry pick top dealmakers from Credit Suisse Group AG’s investment bank instead of supporting Michael Klein’s plan to build a new independent firm, according to people familiar with the discussions. UBS executives have told their Credit Suisse counterparts that they prefer selectively bolstering their own investment bank while dumping the riskier operations, the people said, asking for anonymity because the review has just begun and no final decisions have been made. In initial talks, the acquiring bank indicated little interest in continuing the planned effort for a CS First Boston carveout that would create a new competitor, the people said. All this means Klein’s dream of leading a new investment bank under the revived CS First Boston brand looks increasingly unlikely. Still, some Credit Suisse staff are holding out hope that Klein and banking chief David Miller can line up an alternative plan, the people said. Some executives have reached
Aramco seeks to follow ADNOCâs lead raising cash from asset sales By Nicolas Parasie, Archana Narayanan, Dinesh Nair and Matthew Martin on 12/11/2020
Ken Moelis
(Bloomberg) Saudi Arabia is looking to emulate neighboring Abu Dhabi by using its state energy firm to raise billions of dollars from investors, as the kingdom seeks cash to counter a severe recession.
Saudi Aramco, the worldâs biggest oil company, has hired Moelis & Co. to devise a strategy for selling stakes in some subsidiaries, according to people familiar with the matter. The plan includes raising around $10 billion from a stake sale in Aramcoâs pipelines, said the people, who asked not to be identified because the matter is private.