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Sergio Ermotti
Sergio Pietro Ermotti (born 11 May 1960) is a Swiss manager and former investment banker. In April 2021, Ermotti was elected Chairman of Swiss Re, one of the world's largest reinsurance companies, succeeding Walter Kielholz. He was the Group Chief Executive Officer (CEO) of UBS Group AG from November 2011 to October 2020. Prior to this, he was at UniCredit Group, serving as Head of the Markets & Investment Banking Division as of December 2005 and, from 2007 to 2010, as Group Deputy Chief Executive Officer responsible for Corporate and Investment Banking and Private Banking. Previously, from 1987 until 2003, he was with Merrill Lynch & Co. in several roles including Member of the Executive Management Committee for Global Markets & Investment Banking since 2001. Ermotti took over as Group CEO at UBS after the 2011 rogue trader scandal, implementing strict corporate policies governing community standards. He initiated a major restructuring of the bank, redefining strategy, putting ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Walter Kielholz
Walter Bruno Kielholz (born 25 February 1951 in Zurich) was chairman of the Board of Directors and former CEO of Swiss Re. Kielholz completed a degree in business administration at the University of St. Gallen, Switzerland, in 1976. From 1997 to 2002 he was CEO of Swiss Re. He was Swiss Re's Chairman from 2009 to 2021. He has been Honorary Chairman of Swiss Re since April 2021. Biography Kielholz studied business administration at the University of St. Gallen, and graduated in 1976 with a degree in business finance and accounting. He began his career at the General Reinsurance Corporation, Zurich in 1976. After working in the US, UK and Italy, he assumed responsibility for the company's European marketing. In 1983 he opened an art gallery and picture framing business with his wife, Daphne Kielholz-Pestalozzi. A second gallery was opened in 1986. He joined Credit Suisse in 1986, where he was responsible for client relations with large insurance groups in the multinational service ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equity Derivatives
In finance, an equity derivative is a class of derivatives whose value is at least partly ''derived'' from one or more underlying equity securities. Options and futures are by far the most common equity derivatives, however there are many other types of equity derivatives that are actively traded. Equity options Equity options are the most common type of equity derivative. They provide the right, but not the obligation, to buy (call) or sell (put) a quantity of stock (1 contract = 100 shares of stock), at a set price (strike price), within a certain period of time (prior to the expiration date). Warrants In finance, a warrant is a security that entitles the holder to buy stock of the company that issued it at a specified price, which is much lower than the stock price at time of issue. Warrants are frequently attached to bonds or preferred stock as a sweetener, allowing the issuer to pay lower interest rates or dividends. They can be used to enhance the yield of the bond, and m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Dollar
The United States dollar ( symbol: $; code: USD; also abbreviated US$ or U.S. Dollar, to distinguish it from other dollar-denominated currencies; referred to as the dollar, U.S. dollar, American dollar, or colloquially buck) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The monetary policy of the United States is conducted by the Federal Reserve System, which acts as the nation's central bank. The U.S. dollar was originally defined under a bimetallic standard of (0.7735 troy ounces) fine silver or, from 1837, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, it ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Swiss Market Index
The Swiss Market Index (SMI) is Switzerland's blue-chip stock market index, which makes it the most followed in the country. It is made up of 20 of the largest and most liquid Swiss Performance Index (SPI) stocks. As a price index, the SMI is not adjusted for dividends. The SMI was introduced on 30 June 1988 at a baseline value of 1,500 points. It closed above the symbolic level of 10,000 points for the first time on 2 July 2019. It reached the 12,000 point milestone on 17 June 2021. It is currently in a bear market, which it entered on 22 September 2022 after losing more than 20%. This ended the bull market that had reached an all-time record closing price short of 13,000 on 28 December 2021. Its composition is examined once a year. As of September 2022, it contains 18 large-caps and two mid-caps. Calculation takes place in real-time. As soon as a new transaction occurs in a security contained in the SMI, an updated index level is calculated and displayed. However, the index ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schweiz Am Sonntag
The Swiss ''Schweiz am Sonntag'' () was a German-language weekly newspaper, published on Sundays with the main circulation areas being the Swiss Plateau and southeastern Switzerland. History In the autumn of 2007, the newspaper was founded by AZ Medien under the name ''Sonntag''. On 26 September 2010, the newspaper changed its name to ''Der Sonntag''. On March 24, 2013, the newspaper was renamed to ''Schweiz am Sonntag'', as it was also the Sunday edition of Die Südostschweiz. The editorial consisted of approximately thirty-five people, with Patrik Müller as the editor-in-chief. On 26 February 2017, the last edition of ''Schweiz am Sonntag'' was published. Instead, since 4 March 2017, AZ Medien has published a fully-fledged Saturday edition of the ''Aargauer Zeitung'' titled ''Schweiz am Wochenende''. The reasoning given for the discontinuation of the newspaper was lower advertising revenue, alongside high costs for printing and distribution. Controversy Editor-in-chief Patr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mergers And Acquisitions
Mergers and acquisitions (M&A) are business transactions in which the ownership of companies, other business organizations, or their operating units are transferred to or consolidated with another company or business organization. As an aspect of strategic management, M&A can allow enterprises to grow or downsize, and change the nature of their business or competitive position. Technically, a is a legal consolidation of two business entities into one, whereas an occurs when one entity takes ownership of another entity's share capital, equity interests or assets. A deal may be euphemistically called a ''merger of equals'' if both CEOs agree that joining together is in the best interest of both of their companies. From a legal and financial point of view, both mergers and acquisitions generally result in the consolidation of assets and liabilities under one entity, and the distinction between the two is not always clear. In most countries, mergers and acquisitions must co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Restructuring
Restructuring is the corporate management term for the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable, or better organized for its present needs. Other reasons for restructuring include a change of ownership or ownership structure, demerger, or a response to a crisis or major change in the business such as bankruptcy, repositioning, or buyout In finance, a buyout is an investment transaction by which the ownership equity of a company, or a majority share of the stock of the company is acquired. The acquiror thereby "buys out" the present equity holders of the target company. A buyout .... Restructuring may also be described as corporate restructuring, debt restructuring and financial restructuring. Executives involved in restructuring often hire financial and legal advisors to assist in the transaction details and negotiation. It may also be done by a new CEO hired specifically to make the d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Andrea Orcel
Andrea Orcel (; born May 14, 1963) is Group CEO of UniCredit. He previously served as the president of UBS Investment Bank from November 2014 to September 2018. He was poised to take on the role of Chief Executive of Banco Santander from September 2018 to January 2019; however, the job offer was later withdrawn which resulted in him taking legal action against Santander. In December 2021 a judge awarded him €68m in compensation, including 10m for moral damages. Since early 2020, Orcel has been linked to taking over as CEO at a variety of financial institutions including starting his own boutique investment bank, before taking the role of Group CEO at Unicredit. Born in Rome, Italy, Orcel attended the University of Rome, Sapienza, graduating with a degree in economics and commerce. He attended the INSEAD business school in Paris before working at Goldman Sachs and Boston Consulting Group during the late 1980s. In 1992, he was hired by Merrill Lynch & Co. where he spent the suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
London Stock Exchange Group Plc
London Stock Exchange Group plc (LSEG) is a United Kingdom-based stock exchange and financial information company headquartered in the City of London, England. It owns the London Stock Exchange (on which it is also listed), Refinitiv, LSEG Technology, FTSE Russell, and majority stakes in LCH and Tradeweb. History The London Stock Exchange was founded in Sweeting's Alley in London in 1801. It moved to Capel Court the following year. In 1972, the Exchange moved to a new purpose-built building and trading floor in Threadneedle Street. Deregulation, sometimes known as " big bang", came in 1986 and external ownership of member firms was allowed for the first time. In 1995, the Alternative Investment Market was launched and in 2004 the Exchange moved again, this time to Paternoster Square. Between April and May 2006, having been rebuffed in an informal approach, Nasdaq built up a 23% stake in the Exchange. The stake grew to 29% as a result of the London exchange's share consol ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Darwin Airline
Darwin Airline SA was a Swiss regional airline with its head office in Bioggio, Lugano flying under the brand name Adria Airways Switzerland. It operated scheduled domestic and international services in some western European countries. It used the brand name Etihad Regional from January 2014 to July 2017, when Etihad Airways sold its 33% stake to the owner of Adria Airways. It previously also operated flights on behalf of Alitalia. Its bases were Geneva Airport and Lugano Airport. In November 2017, the Swiss authorities suspended the airline's license for scheduled flights due to financial difficulties but allowed the wetlease operations to be continued. On 12 December 2017, the airline was declared bankrupt and ceased all remaining operations after its license was voided, while some of their fleet was transferred to its owner Adria Airways; the Saab 2000 aircraft still operate scheduled services from Ljubljana Airport in the name of Adria Airways, with the aircraft still carryi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Board
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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