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Credit Suisse Chairman Axel Lehmann on UBS Takeover 1 год назад


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Credit Suisse Chairman Axel Lehmann on UBS Takeover

This video shows the Credit Suisse takeover press conference and the response by Credit Suisse chairman Axel that was given by Swiss government officials alongside the UBS chairman and Credit Suisse chairman after the unprecedented takeover of Credit Suisse by UBS earlier this month. Axel P. Lehmann is a Swiss citizen who is currently the Chairman of Credit Suisse Group AG since January 2022. He was born in 1959 and earned an MBA and a PhD from the University of St. Gallen. Lehmann worked for 20 years in insurance, briefly at Swiss Life before joining Zurich Insurance Group, where he was chief risk officer from 2009 and 2015. He was a non-executive director of UBS from 2009 to 2015 before joining the bank full-time, and in 2016 he appointed its chief operating officer. He was president of UBS Switzerland from 2018 and 2021. In October 2021, Lehmann became a board member of Credit Suisse as head of its risk committee. In this video we talk about the end of Credit Suisse. Credit Suisse was in business for 167 years and has suffered various scandals over the past few years. Wave after wave of Credit Suisse scandals were withstood but after several bank failures and the loss of support from its largest shareholder, the Swiss banking giant collapsed. Credit Suisse was taken over by its rival UBS after emergency meetings of Swiss regulators. RIP Credit Suisse. Our Previous video talking about the potential collapse of the Swiss bank. Credit Suisse is a Globally Systemic Important Bank, GSIB, and its failure would be far more serious than Silicon Valley Bank. Credit Suisse is 4 times larger than SVB at over 800 billion in total assets and other major banks have exposure to it. Credit Suisse has faced major stress over the past year but its most recent slide of 20% today to record lows came after the Saudi National Bank, its largest investor, said it would not provide more capital to the struggling bank. Its shares also slid last week after it delayed its annual report after a call from the SEC questioned certain revisions the bank made to its previous filings in 2019 and 2020. Credit Suisse is currently trying to raise more capital and has asked the Swiss National Bank for a show of support. Here is What Credit Suisse CEO Ulrich Korner had to say Wednesday. The failure of Silicon Valley Bank could spark a run on other regional and mid-sized banks across the country, as wealthy individuals rush to pull their money out of accounts too large for FDIC coverage and flee to larger, more stable institutions amid fears the risk could be systemic. Thanks for watching the video and we hope you enjoyed this episode! If you would like more content like this every day, make sure to subscribe to our channel and hit the bell icon to be notified of our newest releases. Our Top Videos ChatGPT Will Make New Millionaires FAST    • Chamath Reveals How to Build Wealth w...   Elon Musk Opinion of ChatGPT    • Elon Musk's Final ChatGPT WARNING   How to Invest as a BEGINNER: ULTIMATE GUIDE Peter Lynch    • Peter Lynch's Ultimate Guide to Inves...   Disclaimers Affiliate Disclaimer: We may or may not receive compensation from our affiliate sponsors in various forms including but not limited to cash and securities from viewers using our links. Although we vet and verify our affiliate partners, we take no responsibility for you, the viewer, using our affiliate links and by using our affiliate links you agree to release the owners, creators, employees, contractors, and all other related partners from any liability from using our affiliate links. Investment Disclaimer: This information should not be construed as investment advice or as a recommendation to buy, sell, trade or invest in a particular security or investment in any form. All investing carries risks and you should consult a financial professional before participating in financial markets. Investments can lose some or all of their value and derivative contracts can result in losses beyond your total capital. Past performance is not indicative of future results. Although we try our best to provide accurate and timely videos, we make no warranties to the accuracy or timeliness of the information contained in our videos. Legal Disclaimer: This information should not be construed as legal, financial, investment, tax, accounting, and or any other form of professional advice. Although we try our best to provide accurate and timely videos, we make no warranties to the accuracy or timeliness of the information contained in our videos. By watching our videos, you inherently agree to and fully understand these disclaimers.

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