Why are Swiss firms like UBS and CS seeming to have so much trouble?
I am astounded to read about the decline of these two firms. It seems that there is never any good news coming from these firms. CS with Archegos is now fending off rumors of being sold off and is planning on making layoffs. UBS has also been carrying out layoffs recently in their equity capital markets. Why do these Swiss firms seem to face more trouble than US firms and UK firms like Barclays.
Very little regulation. They're free to act as retarded as they want. That combined with greed is a very dangerous mix
Because the Swiss are twats. Seriously, meanest and most arrogant people in all of Europe.
Because the Swiss are shrouded in secrecy. They operate non-chalantly with disregard to potential consequences, because they are allowed to and have always been able to
Whoever shit hits the fan, they always manage to make it out of the rubble due to Swiss Banking Laws. That’s why everyone holds their money in Swiss Banks.
Feel like CS just fucked up and then subsequently got unlucky, not even the IB side just like the firm plus previous CEOs have been less than interested in that portion of the business despite how well it’s done. UBS was great a while back but senior talent either left or gets poached and it seems like every time it’s getting it’s feet back they get poached again.
I’m just an intern so like I’m probably talking out my ass, but outside looking in that’s what it looks like.
Holy shit, they're becoming self-aware...
You're in your first year in bro lmao
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